Ramaco Resources (NASDAQ:METC) Stock Rating Upgraded by The Goldman Sachs Group

Ramaco Resources (NASDAQ:METC) was upgraded by investment analysts at The Goldman Sachs Group from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday, MarketBeat.com reports.

METC has been the topic of a number of other reports. Jefferies Financial Group upgraded Ramaco Resources from a “hold” rating to a “buy” rating and cut their price target for the company from $33.00 to $30.00 in a report on Tuesday, January 20th. Weiss Ratings restated a “sell (d+)” rating on shares of Ramaco Resources in a report on Monday, December 29th. Robert W. Baird cut their price target on Ramaco Resources from $40.00 to $30.00 and set an “outperform” rating on the stock in a report on Friday, February 27th. Zacks Research upgraded Ramaco Resources from a “strong sell” rating to a “hold” rating in a report on Friday, April 10th. Finally, Morgan Stanley cut their price target on Ramaco Resources from $17.50 to $17.00 and set an “equal weight” rating on the stock in a report on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $32.00.

Ramaco Resources Stock Down 3.2%

Shares of Ramaco Resources stock traded down $0.48 during trading on Monday, reaching $14.45. The stock had a trading volume of 972,754 shares, compared to its average volume of 2,438,904. The company has a market capitalization of $970.15 million, a price-to-earnings ratio of -14.60 and a beta of 1.43. The stock has a fifty day moving average price of $15.05 and a two-hundred day moving average price of $20.85. Ramaco Resources has a 52 week low of $8.21 and a 52 week high of $57.80. The company has a current ratio of 5.46, a quick ratio of 4.66 and a debt-to-equity ratio of 0.95.

Ramaco Resources (NASDAQ:METC) last issued its quarterly earnings results on Wednesday, February 25th. The energy company reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.02. The company had revenue of $108.72 million for the quarter, compared to analyst estimates of $143.48 million. Ramaco Resources had a negative return on equity of 12.01% and a negative net margin of 9.59%.The company’s quarterly revenue was down 25.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.02 earnings per share. Sell-side analysts predict that Ramaco Resources will post -0.04 EPS for the current fiscal year.

Ramaco Resources announced that its board has initiated a stock repurchase program on Tuesday, December 23rd that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the energy company to buy up to 9.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Institutional Trading of Ramaco Resources

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Krilogy Financial LLC bought a new stake in Ramaco Resources during the first quarter worth about $155,000. Caitong International Asset Management Co. Ltd raised its holdings in Ramaco Resources by 78,508.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 9,433 shares of the energy company’s stock worth $170,000 after acquiring an additional 9,421 shares in the last quarter. MidFirst Bank bought a new stake in Ramaco Resources during the fourth quarter worth about $54,000. XTX Topco Ltd bought a new stake in Ramaco Resources during the fourth quarter worth about $682,000. Finally, VARCOV Co. bought a new stake in Ramaco Resources during the fourth quarter worth about $1,048,000. Institutional investors own 74.49% of the company’s stock.

About Ramaco Resources

Ramaco Resources, Inc (NASDAQ:METC) is a U.S.-based producer of premium metallurgical coal and industrial minerals, focused on supplying the steel and allied industries. The company’s operations are centered in the Appalachian region of West Virginia, where it develops, mines and processes high-carbon coal products designed to meet the quality requirements of blast‐furnace and electric‐arc furnace steelmakers.

The firm’s flagship asset is the Elk Creek underground mine in Wyoming County, West Virginia, which began commercial production in 2019 and delivers a range of high‐grade metallurgical and anthracite coals.