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

Shares of Ramaco Resources, Inc. (NASDAQ:METC) have received an average recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $27.2857.

A number of brokerages have commented on METC. B. Riley Financial decreased their price objective on shares of Ramaco Resources from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Wednesday, May 13th. The Goldman Sachs Group raised shares of Ramaco Resources from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $14.00 to $15.00 in a report on Tuesday, April 21st. Robert W. Baird decreased their price objective on shares of Ramaco Resources from $30.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Zacks Research raised shares of Ramaco Resources from a “strong sell” rating to a “hold” rating in a research note on Friday, April 10th. Finally, Morgan Stanley reduced their target price on shares of Ramaco Resources from $17.50 to $17.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 9th.

Insider Activity

In other news, major shareholder Discovery Capital Management, sold 200,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $78,555,014.40. This trade represents a 3.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 46.07% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Lunt Capital Management Inc. boosted its stake in shares of Ramaco Resources by 801.3% in the 4th quarter. Lunt Capital Management Inc. now owns 557,899 shares of the energy company’s stock valued at $10,042,000 after purchasing an additional 495,999 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Ramaco Resources by 40.0% in the 3rd quarter. Vanguard Group Inc. now owns 2,335,257 shares of the energy company’s stock valued at $77,507,000 after purchasing an additional 667,199 shares during the last quarter. Ghisallo Capital Management LLC bought a new position in shares of Ramaco Resources in the 3rd quarter valued at about $9,957,000. Cinctive Capital Management LP bought a new position in shares of Ramaco Resources in the 3rd quarter valued at about $2,707,000. Finally, Bamco Inc. NY bought a new position in shares of Ramaco Resources in the 3rd quarter valued at about $20,679,000. Institutional investors own 74.49% of the company’s stock.

Ramaco Resources Stock Down 3.0%

Shares of NASDAQ:METC opened at $14.80 on Wednesday. Ramaco Resources has a 12 month low of $9.69 and a 12 month high of $57.80. The company’s 50-day moving average price is $14.85 and its two-hundred day moving average price is $16.47. The company has a quick ratio of 3.93, a current ratio of 4.88 and a debt-to-equity ratio of 1.06. The firm has a market cap of $964.66 million, a P/E ratio of -13.45 and a beta of 1.31.

Ramaco Resources (NASDAQ:METC) last issued its quarterly earnings data on Monday, May 11th. The energy company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.08). Ramaco Resources had a negative return on equity of 13.44% and a negative net margin of 11.52%.The company had revenue of $101.41 million for the quarter, compared to the consensus estimate of $129.72 million. During the same period in the prior year, the company earned ($0.20) EPS. The firm’s revenue was down 9.7% compared to the same quarter last year. As a group, research analysts forecast that Ramaco Resources will post -0.23 EPS 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.