Ramaco Resources, Inc. (NASDAQ:METC) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Ramaco Resources, Inc. (NASDAQ:METC) has been given a consensus rating of “Moderate Buy” by the ten analysts that are presently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $37.3333.

A number of research analysts have weighed in on the stock. Robert W. Baird set a $43.00 price objective on shares of Ramaco Resources in a research report on Wednesday, October 29th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Ramaco Resources in a report on Wednesday. Zacks Research downgraded shares of Ramaco Resources from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th. Northland Capmk raised Ramaco Resources to a “strong-buy” rating in a research note on Wednesday, October 8th. Finally, Northland Securities set a $44.00 price target on Ramaco Resources in a research note on Wednesday, October 29th.

Ramaco Resources Trading Down 2.9%

METC opened at $16.15 on Friday. The stock has a 50-day moving average of $32.46 and a 200 day moving average of $22.12. The company has a current ratio of 2.97, a quick ratio of 2.24 and a debt-to-equity ratio of 0.24. Ramaco Resources has a 12 month low of $6.30 and a 12 month high of $57.80. The firm has a market cap of $1.07 billion, a P/E ratio of -24.10 and a beta of 1.28.

Ramaco Resources (NASDAQ:METC) last announced its earnings results on Monday, October 27th. The energy company reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.05. Ramaco Resources had a negative return on equity of 8.26% and a negative net margin of 5.67%.The firm had revenue of $104.87 million during the quarter, compared to analysts’ expectations of $137.63 million. During the same quarter in the previous year, the business earned ($0.03) EPS. The company’s quarterly revenue was down 27.7% on a year-over-year basis. As a group, research analysts forecast that Ramaco Resources will post 0.05 EPS for the current year.

Institutional Investors Weigh In On Ramaco Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sunbelt Securities Inc. boosted its position in Ramaco Resources by 400.0% in the 3rd quarter. Sunbelt Securities Inc. now owns 2,500 shares of the energy company’s stock valued at $83,000 after buying an additional 2,000 shares during the period. Advisory Services Network LLC bought a new stake in shares of Ramaco Resources during the third quarter valued at approximately $38,000. Keystone Financial Group purchased a new stake in shares of Ramaco Resources in the third quarter valued at approximately $88,000. Scientech Research LLC purchased a new stake in shares of Ramaco Resources in the third quarter valued at approximately $582,000. Finally, Potrero Capital Research LLC bought a new position in Ramaco Resources in the third quarter worth approximately $11,575,000. Institutional investors own 74.49% of the company’s stock.

About Ramaco Resources

Ramaco Resources, Inc engages in the development, operation, and sale of metallurgical coal. Its development portfolio includes the Elk Creek project that covers an area of approximately 20,200 acres located in southern West Virginia; the Berwind property covering an area of approximately 62,500 acres situated on the border of West Virginia and Virginia; the Knox Creek property, which covers an area of approximately 64,050 acres is located in Virginia; the Maben property covering an area of approximately 28,000 acres situated in southwestern Pennsylvania southern West Virginia; and the Brook Mine property that covers an area of approximately 16,000 acres located in northeastern Wyoming.