Ramaco Resources, Inc. (NASDAQ:METC) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Ramaco Resources, Inc. (NASDAQ:METC) have received an average recommendation of “Moderate Buy” from the eleven research firms that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $34.50.

Several research firms recently commented on METC. Jefferies Financial Group downgraded Ramaco Resources from a “buy” rating to a “hold” rating and cut their target price for the stock from $45.00 to $33.00 in a research report on Tuesday, October 28th. The Goldman Sachs Group began coverage on Ramaco Resources in a research note on Wednesday, November 19th. They set a “sell” rating and a $16.00 price objective for the company. Robert W. Baird set a $43.00 price objective on Ramaco Resources in a report on Wednesday, October 29th. Northland Securities set a $44.00 target price on shares of Ramaco Resources in a report on Wednesday, October 29th. Finally, B. Riley increased their target price on shares of Ramaco Resources from $14.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th.

Ramaco Resources Price Performance

Shares of Ramaco Resources stock opened at $20.38 on Friday. The firm has a market cap of $1.35 billion, a P/E ratio of -30.42 and a beta of 1.44. The firm’s 50-day simple moving average is $18.58 and its 200-day simple moving average is $23.96. Ramaco Resources has a twelve month low of $6.30 and a twelve month 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.

Ramaco Resources (NASDAQ:METC) last posted its quarterly earnings results on Monday, October 27th. The energy company reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.05. The firm had revenue of $104.87 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.03) earnings per share. As a group, research analysts expect that Ramaco Resources will post 0.05 EPS for the current fiscal year.

Ramaco Resources announced that its board has authorized a stock buyback program on Tuesday, December 23rd that permits the company to buyback $100.00 million in shares. This buyback authorization permits the energy company to reacquire up to 9.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Ramaco Resources

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Ramaco Resources by 40.0% during the 3rd quarter. Vanguard Group Inc. now owns 2,335,257 shares of the energy company’s stock valued at $77,507,000 after purchasing an additional 667,199 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Ramaco Resources by 8.4% during the second quarter. American Century Companies Inc. now owns 1,028,186 shares of the energy company’s stock worth $13,510,000 after purchasing an additional 79,858 shares during the last quarter. Millennium Management LLC acquired a new stake in shares of Ramaco Resources in the third quarter valued at $23,451,000. Geode Capital Management LLC raised its holdings in shares of Ramaco Resources by 25.0% in the second quarter. Geode Capital Management LLC now owns 687,343 shares of the energy company’s stock valued at $9,033,000 after buying an additional 137,635 shares during the last quarter. Finally, Bamco Inc. NY bought a new position in shares of Ramaco Resources in the third quarter valued at about $20,679,000. 74.49% of the stock is currently owned by 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.