Ramaco Resources, Inc. (NASDAQ:METC) Receives Average Recommendation of “Hold” from Analysts

Ramaco Resources, Inc. (NASDAQ:METC) has been assigned a consensus recommendation of “Hold” from the nine brokerages that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, two have given a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $26.4286.

METC has been the topic of several research reports. The Goldman Sachs Group cut their target price on Ramaco Resources from $16.00 to $13.00 and set a “neutral” rating on the stock in a research report on Thursday, July 9th. Morgan Stanley lowered their price target on Ramaco Resources from $17.00 to $13.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 8th. B. Riley Financial dropped their price target on Ramaco Resources from $24.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. Zacks Research downgraded Ramaco Resources from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ramaco Resources in a research note on Thursday, June 18th.

Insider Buying and Selling

In related news, major shareholder Discovery Capital Management, sold 200,000 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $14.79, for a total value of $2,958,000.00. Following the transaction, the insider owned 5,311,360 shares in the company, valued at approximately $78,555,014.40. This trade represents a 3.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 46.07% of the company’s stock.

Institutional Investors Weigh In On Ramaco Resources

Several large investors have recently made changes to their positions in the business. Quarry LP purchased a new position in shares of Ramaco Resources in the 4th quarter valued at $27,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Ramaco Resources by 14,250.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,722 shares of the energy company’s stock valued at $31,000 after acquiring an additional 1,710 shares in the last quarter. Allworth Financial LP boosted its position in Ramaco Resources by 3,603.6% during the 3rd quarter. Allworth Financial LP now owns 1,037 shares of the energy company’s stock worth $34,000 after purchasing an additional 1,009 shares during the period. Spirit of America Management Corp NY purchased a new stake in Ramaco Resources during the 4th quarter worth $38,000. Finally, Advisory Services Network LLC acquired a new stake in Ramaco Resources in the 3rd quarter valued at $38,000. Institutional investors and hedge funds own 74.49% of the company’s stock.

Ramaco Resources Stock Performance

Shares of METC stock opened at $9.63 on Thursday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 3.93 and a current ratio of 4.88. The firm has a market capitalization of $627.68 million, a price-to-earnings ratio of -8.75 and a beta of 1.35. Ramaco Resources has a one year low of $9.18 and a one year high of $57.80. The company has a 50 day moving average price of $13.46 and a 200 day moving average price of $15.40.

Ramaco Resources (NASDAQ:METC) last announced its quarterly earnings results on Monday, May 11th. The energy company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $129.72 million. During the same quarter last year, the business earned ($0.20) EPS. The firm’s revenue for the quarter was down 9.7% compared to the same quarter last year. Sell-side analysts anticipate that Ramaco Resources will post -0.58 EPS for the current year.

Ramaco Resources Company Profile

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.