B. Riley Lowers Ramaco Resources (NASDAQ:METC) Price Target to $22.00

Ramaco Resources (NASDAQ:METC) had its target price reduced by B. Riley from $24.00 to $22.00 in a report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the energy company’s stock. B. Riley’s target price suggests a potential upside of 70.15% from the stock’s current price.

Separately, UBS Group assumed coverage on shares of Ramaco Resources in a report on Tuesday, January 16th. They issued a “neutral” rating and a $21.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Ramaco Resources presently has a consensus rating of “Moderate Buy” and an average target price of $17.50.

Ramaco Resources Stock Performance

Shares of METC traded down $0.37 during mid-day trading on Friday, reaching $12.93. 598,177 shares of the company’s stock traded hands, compared to its average volume of 894,519. Ramaco Resources has a 12 month low of $7.26 and a 12 month high of $22.70. The stock has a market capitalization of $572.32 million, a P/E ratio of 7.38 and a beta of 1.15. The business’s 50-day moving average price is $16.53 and its 200-day moving average price is $16.87. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.90 and a current ratio of 1.12.

Ramaco Resources (NASDAQ:METC) last issued its earnings results on Thursday, March 7th. The energy company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.07). Ramaco Resources had a net margin of 11.87% and a return on equity of 24.28%. The firm had revenue of $202.73 million during the quarter, compared to analysts’ expectations of $182.60 million. Equities analysts predict that Ramaco Resources will post 1.59 earnings per share for the current year.

Institutional Trading of Ramaco Resources

Several large investors have recently bought and sold shares of the company. Archer Investment Corp purchased a new stake in Ramaco Resources during the 4th quarter valued at $26,000. Global Retirement Partners LLC acquired a new stake in Ramaco Resources during the 4th quarter worth about $36,000. AJOVista LLC acquired a new position in shares of Ramaco Resources in the 4th quarter valued at $69,000. Tower Research Capital LLC TRC raised its stake in shares of Ramaco Resources by 48,333.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,359 shares of the energy company’s stock worth $75,000 after buying an additional 4,350 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Ramaco Resources by 79.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 7,432 shares of the energy company’s stock worth $82,000 after purchasing an additional 3,284 shares in the last quarter. 74.49% of the stock is owned by institutional investors.

About Ramaco Resources

Ramaco Resources, Inc engages in the development, operation, and sale of metallurgical coal. Its development portfolio includes the Elk Creek project that covers an area of approximately 20,200 acres located in southern West Virginia; the Berwind property covering an area of approximately 62,500 acres situated on the border of West Virginia and Virginia; the Knox Creek property, which covers an area of approximately 64,050 acres is located in Virginia; the Maben property covering an area of approximately 28,000 acres situated in southwestern Pennsylvania southern West Virginia; and the Brook Mine property that covers an area of approximately 16,000 acres located in northeastern Wyoming.