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

Shares of Ramaco Resources, Inc. (NASDAQ:METC) have been assigned an average recommendation of “Hold” from the nine ratings firms that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $22.4286.

Several research analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Ramaco Resources from a “sell” rating to a “strong sell” rating in a report on Saturday, August 22nd. Zacks Research downgraded Ramaco Resources from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th. Benchmark lowered their target price on Ramaco Resources from $38.00 to $26.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Weiss Ratings cut Ramaco Resources from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, August 6th. Finally, The Goldman Sachs Group dropped their target price on Ramaco Resources from $13.00 to $11.00 and set a “neutral” rating for the company in a research report on Thursday, August 6th.

Insider Activity

In related news, major shareholder Discovery Capital Management, sold 500,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $9.57, for a total value of $4,785,000.00. Following the completion of the transaction, the insider owned 4,811,360 shares in the company, valued at $46,044,715.20. This trade represents a 9.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 46.07% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ramaco Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bridgeway Capital Management LLC boosted its holdings in Ramaco Resources by 0.4% in the third quarter. Bridgeway Capital Management LLC now owns 122,998 shares of the energy company’s stock valued at $4,082,000 after acquiring an additional 536 shares during the last quarter. Allworth Financial LP raised its holdings 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 last quarter. Advisory Services Network LLC bought a new position in Ramaco Resources during the 3rd quarter worth approximately $38,000. Police & Firemen s Retirement System of New Jersey lifted its position in shares of Ramaco Resources by 16.0% in the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 9,549 shares of the energy company’s stock worth $172,000 after purchasing an additional 1,317 shares during the period. Finally, Russell Investments Group Ltd. lifted its position in shares of Ramaco Resources by 51.4% in the 4th quarter. Russell Investments Group Ltd. now owns 3,917 shares of the energy company’s stock worth $71,000 after purchasing an additional 1,330 shares during the period. 74.49% of the stock is currently owned by institutional investors and hedge funds.

Ramaco Resources Stock Performance

METC opened at $13.30 on Monday. The company’s 50 day moving average is $11.68 and its 200-day moving average is $13.84. Ramaco Resources has a 1-year low of $8.56 and a 1-year high of $57.80. The company has a current ratio of 4.23, a quick ratio of 3.31 and a debt-to-equity ratio of 1.23. The company has a market cap of $843.09 million, a P/E ratio of -12.43 and a beta of 1.37.

Ramaco Resources (NASDAQ:METC) last released its quarterly earnings data on Tuesday, August 4th. The energy company reported ($0.26) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.26). The business had revenue of $122.32 million during the quarter, compared to analysts’ expectations of $133.11 million. Ramaco Resources had a negative net margin of 11.98% and a negative return on equity of 13.54%. Equities research analysts predict that Ramaco Resources will post -1.02 earnings per share for the current fiscal year.

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.