Ramaco Resources (NASDAQ:METC) Given New $25.00 Price Target at Robert W. Baird

Ramaco Resources (NASDAQ:METC) had its price target dropped by stock analysts at Robert W. Baird from $30.00 to $25.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the energy company’s stock. Robert W. Baird’s target price suggests a potential upside of 51.42% from the stock’s current price.

Several other equities analysts also recently commented on METC. Zacks Research upgraded Ramaco Resources from a “strong sell” rating to a “hold” rating in a research report on Friday, April 10th. Morgan Stanley cut their target price on Ramaco Resources from $17.50 to $17.00 and set an “equal weight” rating for the company in a research report on Thursday, April 9th. Jefferies Financial Group upgraded Ramaco Resources from a “hold” rating to a “buy” rating and cut their target price for the stock from $33.00 to $30.00 in a research report on Tuesday, January 20th. Finally, The Goldman Sachs Group upgraded Ramaco Resources from a “sell” rating to a “neutral” rating and raised their target price for the stock from $14.00 to $15.00 in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $31.29.

Ramaco Resources Price Performance

Shares of METC stock opened at $16.51 on Wednesday. The stock has a 50 day moving average of $14.61 and a two-hundred day moving average of $18.03. The company has a current ratio of 5.46, a quick ratio of 4.66 and a debt-to-equity ratio of 0.95. Ramaco Resources has a 12 month low of $8.51 and a 12 month high of $57.80. The company has a market capitalization of $1.11 billion, a P/E ratio of -15.01 and a beta of 1.31.

Ramaco Resources (NASDAQ:METC) last announced its quarterly earnings data on Monday, May 11th. The energy company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.08). Ramaco Resources had a negative return on equity of 13.32% and a negative net margin of 11.52%.The firm had revenue of $101.41 million during the quarter, compared to the consensus estimate of $129.72 million. During the same quarter in the prior year, the business posted ($0.20) EPS. Ramaco Resources’s revenue was down 9.7% compared to the same quarter last year. As a group, equities analysts expect that Ramaco Resources will post -0.04 EPS for the current year.

Insider Transactions at Ramaco Resources

In other Ramaco Resources news, major shareholder Discovery Capital Management, sold 200,000 shares of Ramaco Resources stock in a transaction on Friday, May 1st. The stock was sold at an average price of $14.79, for a total value of $2,958,000.00. Following the completion of the transaction, the insider owned 5,311,360 shares in the company, valued at approximately $78,555,014.40. The trade was a 3.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 36.20% of the company’s stock.

Hedge Funds Weigh In On Ramaco Resources

Several institutional investors have recently bought and sold shares of METC. Quarry LP bought a new position in Ramaco Resources in the 4th quarter valued at $27,000. Caitong International Asset Management Co. Ltd raised its position in Ramaco Resources by 14,250.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,722 shares of the energy company’s stock valued at $31,000 after purchasing an additional 1,710 shares during the last quarter. Archer Investment Corp bought a new position in Ramaco Resources in the 3rd quarter valued at $33,000. Allworth Financial LP raised its position in Ramaco Resources by 3,603.6% in the 3rd 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 during the last quarter. Finally, MCF Advisors LLC bought a new position in Ramaco Resources in the 3rd quarter valued at $35,000. Institutional investors own 74.49% of the company’s stock.

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.