Brokerages Set Ramaco Resources, Inc. (NASDAQ:METC) Target Price at $27.29

Shares of Ramaco Resources, Inc. (NASDAQ:METC) have been given a consensus recommendation of “Moderate Buy” by the nine analysts that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $27.2857.

A number of equities research analysts have recently issued reports on METC shares. The Goldman Sachs Group upgraded Ramaco Resources from a “sell” rating to a “neutral” rating and upped their price target for the company from $14.00 to $15.00 in a research report on Tuesday, April 21st. Morgan Stanley dropped their price target on Ramaco Resources from $17.50 to $17.00 and set an “equal weight” rating for the company in a research report on Thursday, April 9th. Zacks Research upgraded 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 Ramaco Resources from $30.00 to $25.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. Finally, 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 report on Wednesday, May 13th.

Insider Buying and Selling

In related news, major shareholder Discovery Capital Management, sold 200,000 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $14.79, for a total value of $2,958,000.00. Following the transaction, the insider directly owned 5,311,360 shares in the company, valued at approximately $78,555,014.40. This represents a 3.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 36.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in METC. Goldman Sachs Group Inc. lifted its holdings in Ramaco Resources by 27.0% in the first quarter. Goldman Sachs Group Inc. now owns 274,545 shares of the energy company’s stock valued at $2,260,000 after acquiring an additional 58,304 shares during the last quarter. Empowered Funds LLC lifted its holdings in Ramaco Resources by 1.8% in the first quarter. Empowered Funds LLC now owns 123,110 shares of the energy company’s stock valued at $1,013,000 after acquiring an additional 2,223 shares during the last quarter. Rhumbline Advisers lifted its stake in Ramaco Resources by 40.1% during the second quarter. Rhumbline Advisers now owns 49,605 shares of the energy company’s stock worth $652,000 after purchasing an additional 14,199 shares in the last quarter. Hsbc Holdings PLC lifted its stake in Ramaco Resources by 91.4% during the second quarter. Hsbc Holdings PLC now owns 27,338 shares of the energy company’s stock worth $358,000 after purchasing an additional 13,053 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its stake in Ramaco Resources by 144.8% during the second quarter. New York State Common Retirement Fund now owns 32,039 shares of the energy company’s stock worth $421,000 after purchasing an additional 18,951 shares in the last quarter. 74.49% of the stock is currently owned by institutional investors and hedge funds.

Ramaco Resources Price Performance

NASDAQ:METC opened at $13.92 on Friday. Ramaco Resources has a 12 month low of $8.51 and a 12 month high of $57.80. The stock has a 50 day moving average of $14.47 and a two-hundred day moving average of $17.14. The company has a current ratio of 4.88, a quick ratio of 3.93 and a debt-to-equity ratio of 1.06. The firm has a market cap of $934.31 million, a P/E ratio of -12.65 and a beta of 1.31.

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