Brokerages Set Ramaco Resources, Inc. (NASDAQ:METC) Target Price at $34.50

Shares of Ramaco Resources, Inc. (NASDAQ:METC) have been given a consensus recommendation of “Hold” by the eleven research firms that are currently covering the company, Marketbeat reports. Three analysts have rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and two have given a strong buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $34.50.

A number of research firms have commented on METC. Robert W. Baird set a $43.00 price target on shares of Ramaco Resources in a report on Wednesday, October 29th. Jefferies Financial Group downgraded Ramaco Resources from a “buy” rating to a “hold” rating and reduced their target price for the company from $45.00 to $33.00 in a research note on Tuesday, October 28th. Zacks Research downgraded Ramaco Resources from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th. Weiss Ratings reissued a “sell (d+)” rating on shares of Ramaco Resources in a research note on Monday. Finally, Baird R W upgraded Ramaco Resources to a “strong-buy” rating in a report on Thursday, October 16th.

Key Ramaco Resources News

Here are the key news stories impacting Ramaco Resources this week:

• Positive Sentiment: Board authorizes $100 million buyback (up to ~9.7% of shares) — large repurchases typically support the share price, reduce float, and signal management believes the stock is undervalued. Ramaco Resources stock rises after announcing $100 million buyback
• Positive Sentiment: Non?binding MOU with Mulberry Industries to strengthen domestic rare?earth and permanent?magnet supply chain — could expand Ramaco’s addressable markets and provide long?term strategic upside if commercialized. Mulberry Industries, Ramaco Resources Announce MOU
• Neutral Sentiment: Broader market sentiment weak on Christmas Eve as futures slipped — may weigh on short?term momentum but is not company?specific. Stock Market Today: Futures Drop—Ramaco in Focus
• Negative Sentiment: Portnoy Law Firm launches an investigation into possible securities fraud and may pursue a class action — introduces legal risk, potential litigation costs, and an overhang on the stock until resolved. Ramaco Resources Investigated by the Portnoy Law Firm

Institutional Investors Weigh In On Ramaco Resources

Hedge funds and other institutional investors have recently made changes to their positions in the business. Brooklyn Investment Group bought a new position in Ramaco Resources in the 1st quarter valued at about $25,000. Archer Investment Corp bought a new position in shares of Ramaco Resources in the third quarter valued at approximately $33,000. Allworth Financial LP lifted its holdings in shares of Ramaco Resources by 3,603.6% in the third quarter. Allworth Financial LP now owns 1,037 shares of the energy company’s stock valued at $34,000 after purchasing an additional 1,009 shares in the last quarter. MCF Advisors LLC purchased a new position in shares of Ramaco Resources during the third quarter valued at approximately $35,000. Finally, Advisory Services Network LLC bought a new stake in Ramaco Resources during the third quarter worth $38,000. 74.49% of the stock is owned by institutional investors.

Ramaco Resources Trading Up 8.5%

Shares of METC stock opened at $16.89 on Wednesday. Ramaco Resources has a fifty-two week low of $6.30 and a fifty-two week high of $57.80. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.24 and a current ratio of 2.97. The stock has a 50 day simple moving average of $23.57 and a two-hundred day simple moving average of $23.32. The company has a market cap of $1.11 billion, a P/E ratio of -25.21 and a beta of 1.41.

Ramaco Resources (NASDAQ:METC) last announced its quarterly earnings data on Monday, October 27th. The energy company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.05. The company had revenue of $104.87 million during the quarter, compared to the consensus estimate of $137.63 million. Ramaco Resources had a negative net margin of 5.67% and a negative return on equity of 8.26%. The company’s quarterly revenue was down 27.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.03) EPS. Research analysts forecast that Ramaco Resources will post 0.05 earnings per share for the current year.

Ramaco Resources declared that its board has authorized a share repurchase plan on Tuesday, December 23rd that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the energy company to repurchase up to 9.7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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.