The Goldman Sachs Group Begins Coverage on Ramaco Resources (NASDAQ:METC)

Research analysts at The Goldman Sachs Group assumed coverage on shares of Ramaco Resources (NASDAQ:METC) in a report released on Wednesday, MarketBeat reports. The firm set a “sell” rating and a $16.00 price target on the energy company’s stock. The Goldman Sachs Group’s target price suggests a potential downside of 0.60% from the stock’s current price.

METC has been the subject of a number of other reports. Robert W. Baird set a $43.00 price objective on Ramaco Resources in a research report on Wednesday, October 29th. Zacks Research downgraded shares of Ramaco Resources from a “hold” rating to a “strong sell” rating in a research report on Monday, October 13th. 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 $45.00 to $33.00 in a report on Tuesday, October 28th. Baird R W raised Ramaco Resources to a “strong-buy” rating in a report on Thursday, October 16th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Ramaco Resources in a report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.33.

Ramaco Resources Price Performance

Ramaco Resources stock opened at $16.10 on Wednesday. The company has a quick ratio of 2.24, a current ratio of 2.97 and a debt-to-equity ratio of 0.24. Ramaco Resources has a 52-week low of $6.30 and a 52-week high of $57.80. The firm has a market cap of $1.06 billion, a PE ratio of -24.03 and a beta of 1.28. The company’s 50 day moving average is $32.62 and its two-hundred day moving average is $22.07.

Ramaco Resources (NASDAQ:METC) last released its earnings results on Monday, October 27th. The energy company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.05. Ramaco Resources had a negative return on equity of 8.26% and a negative net margin of 5.67%.The firm had revenue of $104.87 million during the quarter, compared to analyst estimates of $137.63 million. During the same period last year, the business posted ($0.03) earnings per share. Ramaco Resources’s revenue was down 27.7% compared to the same quarter last year. On average, research analysts expect that Ramaco Resources will post 0.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Ramaco Resources

Several institutional investors have recently added to or reduced their stakes in METC. Sunbelt Securities Inc. lifted its position in Ramaco Resources by 400.0% during the 3rd quarter. Sunbelt Securities Inc. now owns 2,500 shares of the energy company’s stock worth $83,000 after acquiring an additional 2,000 shares during the period. Advisory Services Network LLC purchased a new stake in shares of Ramaco Resources during the third quarter worth approximately $38,000. Keystone Financial Group acquired a new stake in shares of Ramaco Resources during the third quarter worth $88,000. Scientech Research LLC acquired a new stake in shares of Ramaco Resources during the third quarter worth $582,000. Finally, Potrero Capital Research LLC purchased a new position in Ramaco Resources in the 3rd quarter valued at $11,575,000. Institutional investors and hedge funds own 74.49% of the company’s stock.

About Ramaco Resources

Ramaco Resources, Inc engages in the development, operation, and sale of metallurgical coal. Its development portfolio includes the Elk Creek project that covers an area of approximately 20,200 acres located in southern West Virginia; the Berwind property covering an area of approximately 62,500 acres situated on the border of West Virginia and Virginia; the Knox Creek property, which covers an area of approximately 64,050 acres is located in Virginia; the Maben property covering an area of approximately 28,000 acres situated in southwestern Pennsylvania southern West Virginia; and the Brook Mine property that covers an area of approximately 16,000 acres located in northeastern Wyoming.