Ramaco Resources’ (METC) Neutral Rating Reiterated at Robert W. Baird

Robert W. Baird restated their neutral rating on shares of Ramaco Resources (NASDAQ:METC) in a report issued on Tuesday morning, Marketbeat Ratings reports. The firm currently has a $13.00 target price on the energy company’s stock.

A number of other analysts have also issued reports on METC. B. Riley Financial lowered their target price on shares of Ramaco Resources from $24.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. The Goldman Sachs Group reduced their price target on shares of Ramaco Resources from $13.00 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday, August 6th. Wall Street Zen upgraded shares of Ramaco Resources from a “strong sell” rating to a “sell” rating in a report on Saturday, August 8th. Weiss Ratings cut shares of Ramaco Resources from a “sell (d)” rating to a “sell (d-)” rating in a research report on Thursday, August 6th. Finally, Morgan Stanley dropped their target price on shares of Ramaco Resources from $17.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $22.43.

Ramaco Resources Price Performance

METC opened at $11.15 on Tuesday. The business has a fifty day moving average of $11.87 and a 200 day moving average of $14.09. Ramaco Resources has a 52-week low of $8.56 and a 52-week high of $57.80. The company has a quick ratio of 3.31, a current ratio of 4.23 and a debt-to-equity ratio of 1.23. The stock has a market cap of $706.78 million, a P/E ratio of -10.42 and a beta of 1.37.

Ramaco Resources (NASDAQ:METC) last announced its quarterly earnings data on Tuesday, August 4th. The energy company reported ($0.26) EPS for the quarter, meeting the consensus estimate of ($0.26). Ramaco Resources had a negative return on equity of 13.54% and a negative net margin of 11.98%.The company had revenue of $122.32 million for the quarter, compared to the consensus estimate of $133.11 million. As a group, sell-side analysts anticipate that Ramaco Resources will post -1.02 EPS for the current year.

Insider Buying and Selling at Ramaco Resources

In other Ramaco Resources news, major shareholder Discovery Capital Management, sold 500,000 shares of the company’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $9.57, for a total value of $4,785,000.00. Following the completion of the sale, the insider directly owned 4,811,360 shares in the company, valued at approximately $46,044,715.20. This represents a 9.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 46.07% of the company’s stock.

Hedge Funds Weigh In On Ramaco Resources

Several institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. lifted its stake 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 worth $2,260,000 after acquiring an additional 58,304 shares during the period. Empowered Funds LLC grew its holdings in Ramaco Resources by 1.8% during the 1st quarter. Empowered Funds LLC now owns 123,110 shares of the energy company’s stock worth $1,013,000 after acquiring an additional 2,223 shares in the last quarter. Rhumbline Advisers increased its position in Ramaco Resources by 40.1% during the 2nd quarter. Rhumbline Advisers now owns 49,605 shares of the energy company’s stock valued at $652,000 after purchasing an additional 14,199 shares during the period. Hsbc Holdings PLC increased its position in Ramaco Resources by 91.4% during the 2nd quarter. Hsbc Holdings PLC now owns 27,338 shares of the energy company’s stock valued at $358,000 after purchasing an additional 13,053 shares during the period. Finally, New York State Common Retirement Fund raised its holdings in shares of Ramaco Resources by 144.8% in the 2nd quarter. New York State Common Retirement Fund now owns 32,039 shares of the energy company’s stock valued at $421,000 after purchasing an additional 18,951 shares in the last quarter. Hedge funds and other institutional investors own 74.49% of the company’s stock.

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.