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

Ramaco Resources, Inc. (NASDAQ:METC)’s stock price gapped up prior to trading 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 changing hands.

Several other equities analysts have also weighed in on the stock. Zacks Research raised shares of Ramaco Resources from a “strong sell” rating to a “hold” rating in a report on Friday, April 10th. Robert W. Baird cut their price target on Ramaco Resources from $40.00 to $30.00 and set an “outperform” rating for the company in a research note on Friday, February 27th. Morgan Stanley dropped their price objective on Ramaco Resources from $17.50 to $17.00 and set an “equal weight” rating on the stock in a report on Thursday, April 9th. Jefferies Financial Group upgraded Ramaco Resources from a “hold” rating to a “buy” rating and decreased their target price for the company from $33.00 to $30.00 in a research report on Tuesday, January 20th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Ramaco Resources in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Ramaco Resources currently has an average rating of “Moderate Buy” and a consensus price target of $32.00.

Hedge Funds Weigh In On Ramaco Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in METC. Lunt Capital Management Inc. increased its stake in Ramaco Resources by 801.3% during the fourth quarter. Lunt Capital Management Inc. now owns 557,899 shares of the energy company’s stock worth $10,042,000 after acquiring an additional 495,999 shares during the last quarter. Vanguard Group Inc. raised its holdings in 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 buying an additional 667,199 shares during the period. Ghisallo Capital Management LLC purchased a new stake in Ramaco Resources in the 3rd quarter valued at about $9,957,000. Benjamin Edwards Inc. purchased a new position in Ramaco Resources during the third quarter worth about $899,000. Finally, Cinctive Capital Management LP acquired a new stake in shares of Ramaco Resources during the third quarter valued at about $2,707,000. Institutional investors and hedge funds own 74.49% of the company’s stock.

Ramaco Resources Price Performance

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

Ramaco Resources (NASDAQ:METC) last issued its quarterly earnings data on Wednesday, February 25th. The energy company reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.02. Ramaco Resources had a negative return on equity of 12.01% and a negative net margin of 9.59%.The business had revenue of $108.72 million during the quarter, compared to analysts’ expectations of $143.48 million. During the same period in the previous year, the firm posted $0.02 earnings per share. The company’s revenue was down 25.1% on a year-over-year basis. On average, equities analysts predict 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.