B. Riley Financial Cuts Ramaco Resources (NASDAQ:METC) Price Target to $22.00

Ramaco Resources (NASDAQ:METC) had its price target decreased by B. Riley Financial from $24.00 to $22.00 in a research report released on Wednesday,Benzinga reports. B. Riley Financial currently has a buy rating on the energy company’s stock.

Several other research analysts have also commented on METC. Jefferies Financial Group raised Ramaco Resources from a “hold” rating to a “buy” rating and cut their price objective for the company from $33.00 to $30.00 in a research report on Tuesday, January 20th. Morgan Stanley cut their price objective on Ramaco Resources from $17.50 to $17.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 9th. Zacks Research raised Ramaco Resources from a “strong sell” rating to a “hold” rating in a research report on Friday, April 10th. Robert W. Baird dropped their target price on Ramaco Resources from $30.00 to $25.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, The Goldman Sachs Group raised Ramaco Resources from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $14.00 to $15.00 in a research report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $27.29.

Ramaco Resources Trading Down 4.5%

NASDAQ:METC opened at $14.51 on Wednesday. The business’s 50-day moving average is $14.57 and its two-hundred day moving average is $17.72. The company has a debt-to-equity ratio of 1.06, a current ratio of 4.88 and a quick ratio of 4.66. Ramaco Resources has a 12 month low of $8.51 and a 12 month high of $57.80. The firm has a market capitalization of $973.91 million, a PE ratio of -13.19 and a beta of 1.31.

Ramaco Resources (NASDAQ:METC) last released its quarterly earnings data on Monday, May 11th. The energy company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.08). Ramaco Resources had a negative net margin of 11.52% and a negative return on equity of 13.44%. The company had revenue of $101.41 million during the quarter, compared to analysts’ expectations of $129.72 million. During the same period last year, the business earned ($0.20) earnings per share. The company’s revenue for the quarter was down 9.7% compared to the same quarter last year. Research analysts predict that Ramaco Resources will post -0.27 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Discovery Capital Management, sold 200,000 shares of Ramaco Resources stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $14.79, for a total transaction of $2,958,000.00. Following the sale, the insider directly owned 5,311,360 shares of the company’s stock, valued at approximately $78,555,014.40. The trade was a 3.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 36.20% of the company’s stock.

Institutional Trading of Ramaco Resources

Several hedge funds and other institutional investors have recently bought and sold shares of METC. Lunt Capital Management Inc. boosted its stake in Ramaco Resources by 801.3% in the fourth quarter. Lunt Capital Management Inc. now owns 557,899 shares of the energy company’s stock valued at $10,042,000 after acquiring an additional 495,999 shares during the period. Vanguard Group Inc. boosted its stake in Ramaco Resources by 40.0% in the third quarter. Vanguard Group Inc. now owns 2,335,257 shares of the energy company’s stock valued at $77,507,000 after acquiring an additional 667,199 shares during the period. Ghisallo Capital Management LLC acquired a new position in Ramaco Resources in the third quarter valued at approximately $9,957,000. Benjamin Edwards Inc. acquired a new position in Ramaco Resources in the third quarter valued at approximately $899,000. Finally, Cinctive Capital Management LP acquired a new position in Ramaco Resources in the third quarter valued at approximately $2,707,000. 74.49% of the stock is owned by institutional investors.

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.