Ramaco Resources (NASDAQ:METC) Given New $26.00 Price Target at Benchmark

Ramaco Resources (NASDAQ:METC) had its price objective lowered by investment analysts at Benchmark from $38.00 to $26.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the energy company’s stock. Benchmark’s price objective suggests a potential upside of 157.81% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. The Goldman Sachs Group lowered their price objective on Ramaco Resources from $13.00 to $11.00 and set a “neutral” rating for the company in a research note on Thursday. Zacks Research lowered Ramaco Resources from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th. Morgan Stanley reduced their target price on shares of Ramaco Resources from $17.00 to $13.00 and set an “equal weight” rating for the company in a report on Wednesday, July 8th. Robert W. Baird dropped their price target on shares of Ramaco Resources from $30.00 to $25.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Ramaco Resources in a research note on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $24.43.

Ramaco Resources Stock Performance

METC traded up $0.84 on Thursday, hitting $10.09. The company’s stock had a trading volume of 790,698 shares, compared to its average volume of 2,044,257. The company has a quick ratio of 3.93, a current ratio of 4.88 and a debt-to-equity ratio of 1.06. Ramaco Resources has a 12 month low of $8.56 and a 12 month high of $57.80. The firm has a market cap of $657.34 million, a P/E ratio of -9.50 and a beta of 1.37. The company’s 50 day simple moving average is $12.95 and its 200-day simple moving average is $14.98.

Ramaco Resources (NASDAQ:METC) last issued its earnings results on Wednesday, August 5th. The energy company reported ($0.26) EPS for the quarter, hitting the consensus estimate of ($0.26). Ramaco Resources had a negative return on equity of 12.80% and a negative net margin of 11.98%.The business had revenue of $122.32 million during the quarter, compared to the consensus estimate of $133.11 million. Analysts forecast that Ramaco Resources will post -0.58 EPS for the current year.

Institutional Investors Weigh In On Ramaco Resources

Hedge funds have recently made changes to their positions in the stock. Millennium Management LLC acquired a new stake in Ramaco Resources during the 3rd quarter valued at approximately $23,451,000. Merewether Investment Management LP acquired a new position in shares of Ramaco Resources in the 3rd quarter valued at $18,633,000. Goldman Sachs Group Inc. boosted its holdings in Ramaco Resources by 74.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,160,898 shares of the energy company’s stock worth $20,896,000 after buying an additional 496,150 shares in the last quarter. Lunt Capital Management Inc. grew its position 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 valued at $10,042,000 after buying an additional 495,999 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Ramaco Resources by 38.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,435,059 shares of the energy company’s stock worth $22,179,000 after acquiring an additional 398,626 shares during the period. 74.49% of the stock is currently owned by hedge funds and other institutional investors.

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.