Ramaco Resources Inc (NASDAQ:METC) – Equities researchers at B. Riley reduced their Q2 2020 EPS estimates for Ramaco Resources in a research report issued on Monday, June 29th. B. Riley analyst L. Pipes now forecasts that the energy company will earn ($0.08) per share for the quarter, down from their previous forecast of ($0.07). B. Riley has a “Buy” rating and a $9.00 price target on the stock. B. Riley also issued estimates for Ramaco Resources’ FY2020 earnings at ($0.05) EPS and FY2021 earnings at $0.95 EPS.
Other equities analysts have also recently issued research reports about the company. Zacks Investment Research cut Ramaco Resources from a “hold” rating to a “sell” rating in a report on Wednesday, June 10th. ValuEngine cut Ramaco Resources from a “hold” rating to a “sell” rating in a report on Wednesday, June 17th. Finally, Benchmark cut their price objective on Ramaco Resources from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Thursday, May 14th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $6.20.
Ramaco Resources (NASDAQ:METC) last issued its quarterly earnings data on Tuesday, May 12th. The energy company reported $0.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.01. The business had revenue of $41.94 million during the quarter, compared to analysts’ expectations of $40.89 million. Ramaco Resources had a return on equity of 11.93% and a net margin of 9.32%.
Large investors have recently bought and sold shares of the business. Barclays PLC increased its stake in Ramaco Resources by 102.0% during the 4th quarter. Barclays PLC now owns 8,382 shares of the energy company’s stock worth $30,000 after buying an additional 4,232 shares in the last quarter. Goldman Sachs Group Inc. purchased a new stake in shares of Ramaco Resources in the fourth quarter valued at approximately $36,000. UBS Group AG grew its position in shares of Ramaco Resources by 78.3% in the fourth quarter. UBS Group AG now owns 12,164 shares of the energy company’s stock valued at $44,000 after purchasing an additional 5,340 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Ramaco Resources in the fourth quarter valued at approximately $44,000. Finally, Doliver Advisors LP purchased a new stake in shares of Ramaco Resources in the first quarter valued at approximately $63,000. Institutional investors own 70.10% 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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