Ramaco Resources Inc (NASDAQ:METC) has earned an average rating of “Hold” from the eight brokerages that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $7.67.
METC has been the subject of a number of analyst reports. ValuEngine lowered shares of Ramaco Resources from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 18th. TheStreet lowered shares of Ramaco Resources from a “c” rating to a “d” rating in a research note on Monday, August 5th. Jefferies Financial Group lowered shares of Ramaco Resources from a “buy” rating to a “hold” rating and reduced their price objective for the company from $8.50 to $5.00 in a research note on Tuesday, August 6th. Zacks Investment Research lowered shares of Ramaco Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Finally, Credit Suisse Group reduced their price objective on shares of Ramaco Resources from $9.00 to $7.00 and set an “outperform” rating for the company in a research note on Thursday, August 15th.
NASDAQ METC traded down $0.08 during trading hours on Friday, reaching $4.05. 35,879 shares of the company’s stock traded hands, compared to its average volume of 121,004. Ramaco Resources has a 52-week low of $3.01 and a 52-week high of $8.94. The firm has a market cap of $154.35 million, a PE ratio of 6.53 and a beta of 1.09. The firm has a 50-day simple moving average of $4.60 and a 200 day simple moving average of $5.53. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.60 and a quick ratio of 1.06.
In other Ramaco Resources news, Director Patrick C. Graney III purchased 46,000 shares of Ramaco Resources stock in a transaction that occurred on Friday, August 16th. The shares were bought at an average price of $3.57 per share, for a total transaction of $164,220.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael Dale Bauersachs acquired 31,377 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were purchased at an average price of $3.96 per share, for a total transaction of $124,252.92. The disclosure for this purchase can be found here. Insiders have acquired 87,377 shares of company stock worth $327,173 in the last ninety days. Insiders own 80.14% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Foundry Partners LLC lifted its stake in Ramaco Resources by 41.3% in the second quarter. Foundry Partners LLC now owns 470,466 shares of the energy company’s stock worth $2,503,000 after acquiring an additional 137,512 shares during the period. BlackRock Inc. lifted its position in shares of Ramaco Resources by 40.5% during the second quarter. BlackRock Inc. now owns 419,879 shares of the energy company’s stock valued at $2,234,000 after buying an additional 121,007 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Ramaco Resources by 19.9% during the second quarter. Vanguard Group Inc. now owns 469,548 shares of the energy company’s stock valued at $2,498,000 after buying an additional 77,931 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Ramaco Resources by 492.6% during the fourth quarter. Bank of New York Mellon Corp now owns 73,093 shares of the energy company’s stock valued at $362,000 after buying an additional 60,758 shares during the last quarter. Finally, Dimensional Fund Advisors LP purchased a new stake in shares of Ramaco Resources during the fourth quarter valued at about $160,000. Hedge funds and other institutional investors own 76.37% of the company’s stock.
About Ramaco Resources
Ramaco Resources, Inc produces and sells metallurgical coal in the United States. The company's development portfolio includes the Elk Creek project consisting of approximately 20,552 acres of controlled mineral and 24 seams located in southern West Virginia; and the Berwind coal property comprising approximately 31,200 acres of controlled mineral and an area of Squire Jim seam coal deposits, which is situated on the border of West Virginia and Virginia.
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