Ramaco Resources (NASDAQ:METC) Shares Gap Up After Analyst Upgrade

Ramaco Resources, Inc. (NASDAQ:METC)’s share price gapped up before the market opened on Tuesday after The Goldman Sachs Group upgraded the stock from a sell rating to a hold rating. The stock had previously closed at $14.07, but opened at $14.73. Ramaco Resources shares last traded at $14.9010, with a volume of 350,209 shares.

Several other research firms have also commented on METC. Morgan Stanley dropped their price target on shares of 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. Jefferies Financial Group upgraded shares of Ramaco Resources from a “hold” rating to a “buy” rating and dropped their price target for the company from $33.00 to $30.00 in a research report on Tuesday, January 20th. Zacks Research upgraded shares of Ramaco Resources from a “strong sell” rating to a “hold” rating in a research report on Friday, April 10th. Robert W. Baird dropped their price target on shares of Ramaco Resources from $40.00 to $30.00 and set an “outperform” rating on the stock in a research report on Friday, February 27th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Ramaco Resources in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Ramaco Resources presently has an average rating of “Moderate Buy” and an average price target of $32.00.

Institutional Trading of Ramaco Resources

Several institutional investors have recently modified their holdings of the stock. 1492 Capital Management LLC grew its position in shares of Ramaco Resources by 32.7% in the first quarter. 1492 Capital Management LLC now owns 15,686 shares of the energy company’s stock valued at $243,000 after purchasing an additional 3,869 shares during the period. Krilogy Financial LLC purchased a new position in shares of Ramaco Resources in the first quarter worth about $155,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of Ramaco Resources by 78,508.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 9,433 shares of the energy company’s stock worth $170,000 after buying an additional 9,421 shares in the last quarter. MidFirst Bank purchased a new position in shares of Ramaco Resources in the fourth quarter worth about $54,000. Finally, XTX Topco Ltd purchased a new position in shares of Ramaco Resources in the fourth quarter worth about $682,000. Institutional investors and hedge funds own 74.49% of the company’s stock.

Ramaco Resources Trading Down 0.1%

The company’s 50 day moving average price is $15.00 and its two-hundred day moving average price is $20.81. The company has a debt-to-equity ratio of 0.95, a current ratio of 5.46 and a quick ratio of 4.66. The stock has a market capitalization of $1.00 billion, a PE ratio of -15.07 and a beta of 1.43.

Ramaco Resources (NASDAQ:METC) last posted its quarterly earnings results on Wednesday, February 25th. The energy company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.02. The firm had revenue of $108.72 million for the quarter, compared to the consensus estimate of $143.48 million. Ramaco Resources had a negative net margin of 9.59% and a negative return on equity of 12.01%. The company’s revenue for the quarter was down 25.1% on a year-over-year basis. During the same period last year, the firm posted $0.02 earnings per share. As a group, analysts expect that Ramaco Resources, Inc. will post -0.04 earnings per share 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.