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

Shares of Ramaco Resources, Inc. (NASDAQ:METC) have received a consensus rating of “Moderate Buy” from the nine research firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $27.2857.

Several brokerages have recently issued reports on METC. Weiss Ratings reissued a “sell (d)” rating on shares of Ramaco Resources in a report on Thursday, June 18th. Morgan Stanley dropped their price objective on shares of Ramaco Resources from $17.50 to $17.00 and set an “equal weight” rating on the stock in a report on Thursday, April 9th. B. Riley Financial cut their price objective on shares of Ramaco Resources from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, May 13th. The Goldman Sachs Group raised shares of Ramaco Resources from a “sell” rating to a “neutral” rating and boosted their target price for the company from $14.00 to $15.00 in a research note on Tuesday, April 21st. Finally, Robert W. Baird decreased their target price on shares of Ramaco Resources from $30.00 to $25.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th.

Ramaco Resources Stock Performance

Shares of NASDAQ METC opened at $12.95 on Friday. The company has a market cap of $844.08 million, a price-to-earnings ratio of -11.77 and a beta of 1.35. Ramaco Resources has a 12-month low of $11.45 and a 12-month high of $57.80. The company has a current ratio of 4.88, a quick ratio of 3.93 and a debt-to-equity ratio of 1.06. The stock’s 50 day simple moving average is $14.52 and its 200 day simple moving average is $16.13.

Ramaco Resources (NASDAQ:METC) last issued 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). The company had revenue of $101.41 million for the quarter, compared to the consensus estimate of $129.72 million. Ramaco Resources had a negative return on equity of 13.44% and a negative net margin of 11.52%.Ramaco Resources’s quarterly revenue was down 9.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.20) earnings per share. Equities research analysts expect that Ramaco Resources will post -0.27 EPS for the current year.

Insider Buying and Selling at Ramaco Resources

In other news, major shareholder Discovery Capital Management, sold 200,000 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $14.79, for a total transaction of $2,958,000.00. Following the completion of the transaction, the insider directly owned 5,311,360 shares in the company, valued at approximately $78,555,014.40. The trade was a 3.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 46.07% of the company’s stock.

Institutional Trading of Ramaco Resources

Several hedge funds have recently added to or reduced their stakes in METC. Bridgeway Capital Management LLC boosted its position in Ramaco Resources by 0.4% during the 3rd quarter. Bridgeway Capital Management LLC now owns 122,998 shares of the energy company’s stock worth $4,082,000 after acquiring an additional 536 shares during the period. Allworth Financial LP grew its stake 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 worth $34,000 after purchasing an additional 1,009 shares in the last quarter. Advisory Services Network LLC acquired a new position in shares of Ramaco Resources during the third quarter valued at $38,000. Police & Firemen s Retirement System of New Jersey increased its holdings in shares of Ramaco Resources by 16.0% during the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 9,549 shares of the energy company’s stock valued at $172,000 after purchasing an additional 1,317 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in shares of Ramaco Resources by 51.4% during the fourth quarter. Russell Investments Group Ltd. now owns 3,917 shares of the energy company’s stock valued at $71,000 after purchasing an additional 1,330 shares in the last quarter. 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.