The Goldman Sachs Group Has Lowered Expectations for Ramaco Resources (NASDAQ:METC) Stock Price

Ramaco Resources (NASDAQ:METC) had its target price dropped by research analysts at The Goldman Sachs Group from $8.00 to $7.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the energy company’s stock. The Goldman Sachs Group‘s price objective suggests a potential upside of 9.46% from the company’s current price.

A number of other equities analysts have also recently issued reports on the stock. Wall Street Zen cut shares of Ramaco Resources from a “sell” rating to a “strong sell” rating in a research report on Sunday, October 4th. Robert W. Baird cut Ramaco Resources from an “outperform” rating to a “neutral” rating and set a $13.00 price target on the stock. in a research report on Tuesday, August 18th. B. Riley Financial reduced their price objective on shares of Ramaco Resources from $24.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday. Zacks Research raised Ramaco Resources from a “strong sell” rating to a “hold” rating in a report on Friday, October 16th. Finally, Morgan Stanley cut their price objective on Ramaco Resources from $13.00 to $11.00 and set an “equal weight” rating for the company in a report on Tuesday, August 18th. Three analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $17.33.

Ramaco Resources Price Performance

NASDAQ:METC traded down $0.34 during midday trading on Wednesday, hitting $6.39. The company had a trading volume of 2,638,549 shares, compared to its average volume of 2,082,093. The stock’s fifty day moving average price is $9.53 and its 200-day moving average price is $13.39. The company has a market capitalization of $405.38 million, a PE ratio of -5.98 and a beta of 1.46. Ramaco Resources has a 52-week low of $5.73 and a 52-week high of $28.67. The company has a quick ratio of 3.31, a current ratio of 4.23 and a debt-to-equity ratio of 1.23.

Ramaco Resources (NASDAQ:METC) last issued its earnings results on Tuesday, November 3rd. The energy company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.08). Ramaco Resources had a negative return on equity of 13.54% and a negative net margin of 11.98%. The firm had revenue of $150.09 million during the quarter, compared to analysts’ expectations of $140.23 million. As a group, research analysts expect that Ramaco Resources will post -0.97 earnings per share for the current year.

Insider Buying and Selling

In other Ramaco Resources news, major shareholder Discovery Capital Management, sold 500,000 shares of the stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $9.57, for a total transaction of $4,785,000.00. Following the completion of the transaction, the insider owned 4,811,360 shares of the company’s stock, valued at $46,044,715.20. This represents a 9.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 46.07% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ramaco Resources

A number of hedge funds have recently bought and sold shares of METC. Assenagon Asset Management S.A. purchased a new position in Ramaco Resources during the third quarter worth $3,986,000. Dimensional Fund Advisors LP raised its stake in shares of Ramaco Resources by 38.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,435,059 shares of the energy company’s stock valued at $22,179,000 after acquiring an additional 398,626 shares during the period. State Street Corp lifted its holdings in shares of Ramaco Resources by 6.7% in the 2nd quarter. State Street Corp now owns 3,059,847 shares of the energy company’s stock worth $40,482,000 after acquiring an additional 192,663 shares during the last quarter. Gratia Capital LLC bought a new position in Ramaco Resources during the 2nd quarter valued at about $1,826,000. Finally, Bank of New York Mellon Corp bought a new position in Ramaco Resources during the 2nd quarter valued at about $1,486,000. Hedge funds and other institutional investors own 74.49% of the company’s stock.

More Ramaco Resources News

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

• Positive Sentiment: Third-quarter revenue was $150.1 million, ahead of analysts’ $140.2 million estimate. Zacks Q3 earnings report
• Neutral Sentiment: B. Riley cut its price target from $24 to $17 but kept its Buy rating. The lower target is a cautionary adjustment, though it still implies substantial upside from the quoted $6.02 share price. B. Riley rating information
• Neutral Sentiment: Chairman and CEO Randall W. Atkins was elected chairman of the International Energy Agency’s Coal Industry Advisory Board, a leadership role that may raise his industry profile but does not directly change the company’s financial outlook. Announcement of Atkins’ election
• Negative Sentiment: METC reported a third-quarter loss of $0.32 per share, wider than analysts’ expected loss of $0.24 and the $0.25 loss a year earlier. Negative net margin and return on equity underscore the earnings pressure, which may outweigh the revenue beat for investors. Ramaco third-quarter results

Ramaco Resources Company Profile

Ramaco Resources, Inc is a coal producer focused primarily on the development and operation of metallurgical coal mines. Its metallurgical coal is used by steelmakers in the production of coke, a key input in traditional steel manufacturing. The company also produces and sells thermal coal and related coal products where commercially appropriate.

Ramaco Resources operates mining assets in the Central Appalachian region of the United States, including properties in southern West Virginia and Virginia, and owns the Brook Mine development in Sheridan, Wyoming.