Ramaco Resources (NASDAQ:METC) had its price target decreased by Credit Suisse Group from $9.00 to $7.00 in a research note issued to investors on Thursday morning, BenzingaRatingsTable reports. Credit Suisse Group currently has an outperform rating on the energy company’s stock.
Several other research firms have also recently commented on METC. ValuEngine cut shares of Ramaco Resources from a sell rating to a strong sell rating in a research note on Thursday, July 18th. Zacks Investment Research cut shares of Ramaco Resources from a buy rating to a hold rating in a research note on Wednesday, August 7th. Jefferies Financial Group cut shares of Ramaco Resources from a buy rating to a hold rating and reduced their price objective for the company from $8.50 to $5.00 in a research note on Tuesday, August 6th. Finally, TheStreet cut shares of Ramaco Resources from a c rating to a d rating in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $7.25.
METC stock opened at $3.87 on Thursday. Ramaco Resources has a one year low of $3.01 and a one year high of $8.94. The stock has a market capitalization of $130.61 million, a PE ratio of 6.24 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.05 and a current ratio of 1.60. The company has a fifty day moving average of $4.77 and a 200-day moving average of $5.59.
Ramaco Resources (NASDAQ:METC) last released its earnings results on Tuesday, August 13th. The energy company reported $0.26 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.26. Ramaco Resources had a net margin of 11.81% and a return on equity of 18.45%. The company had revenue of $65.76 million during the quarter, compared to analysts’ expectations of $62.03 million. Equities analysts forecast that Ramaco Resources will post 1.22 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in METC. Northwestern Mutual Investment Management Company LLC acquired a new stake in shares of Ramaco Resources in the first quarter valued at about $46,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of Ramaco Resources in the second quarter valued at about $60,000. Dimensional Fund Advisors LP purchased a new position in Ramaco Resources during the 4th quarter valued at about $160,000. AlpInvest Partners B.V. purchased a new position in Ramaco Resources during the 1st quarter valued at about $175,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in Ramaco Resources by 24.6% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 34,809 shares of the energy company’s stock valued at $186,000 after acquiring an additional 6,870 shares in the last quarter. Hedge funds and other institutional investors own 76.38% of the company’s stock.
Ramaco Resources Company Profile
Ramaco Resources, Inc produces and sells metallurgical coal in the United States. The company's development portfolio includes the Elk Creek project consisting of approximately 20,552 acres of controlled mineral and 24 seams located in southern West Virginia; and the Berwind coal property comprising approximately 31,200 acres of controlled mineral and an area of Squire Jim seam coal deposits, which is situated on the border of West Virginia and Virginia.
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