Analysts Set Ramaco Resources, Inc. (NASDAQ:METC) PT at $27.29

Shares of Ramaco Resources, Inc. (NASDAQ:METC) have been given a consensus recommendation of “Moderate Buy” by the nine analysts that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $27.2857.

A number of equities research analysts have weighed in on METC shares. Jefferies Financial Group upgraded Ramaco Resources from a “hold” rating to a “buy” rating and lowered their price objective for the company from $33.00 to $30.00 in a research note on Tuesday, January 20th. Robert W. Baird lowered their price objective on Ramaco Resources from $30.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Morgan Stanley lowered their price objective on Ramaco Resources from $17.50 to $17.00 and set an “equal weight” rating for the company in a research note on Thursday, April 9th. The Goldman Sachs Group upgraded Ramaco Resources from a “sell” rating to a “neutral” rating and raised their price objective for the company from $14.00 to $15.00 in a research note on Tuesday, April 21st. Finally, B. Riley Financial lowered their price objective on Ramaco Resources from $24.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th.

Ramaco Resources Stock Performance

Shares of NASDAQ:METC opened at $13.83 on Friday. The firm has a market capitalization of $928.27 million, a PE ratio of -12.57 and a beta of 1.31. The company has a debt-to-equity ratio of 1.06, a current ratio of 4.88 and a quick ratio of 3.93. The business has a 50-day moving average of $14.55 and a two-hundred day moving average of $17.50. Ramaco Resources has a 12 month low of $8.51 and a 12 month high of $57.80.

Ramaco Resources (NASDAQ:METC) last posted its earnings results on Monday, May 11th. The energy company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.08). Ramaco Resources had a negative net margin of 11.52% and a negative return on equity of 13.44%. The company had revenue of $101.41 million during the quarter, compared to analyst estimates of $129.72 million. During the same quarter last year, the business posted ($0.20) EPS. Ramaco Resources’s quarterly revenue was down 9.7% compared to the same quarter last year. As a group, research analysts forecast that Ramaco Resources will post -0.27 earnings per share for the current year.

Insider Buying and Selling

In other Ramaco Resources news, major shareholder Discovery Capital Management, sold 200,000 shares of the 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 transaction, the insider owned 5,311,360 shares of the company’s stock, valued at $78,555,014.40. This trade represents a 3.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 36.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Ramaco Resources

Several hedge funds have recently made changes to their positions in the stock. State Street Corp lifted its holdings in shares of Ramaco Resources by 10.2% in the 4th quarter. State Street Corp now owns 2,489,797 shares of the energy company’s stock worth $44,816,000 after purchasing an additional 230,197 shares during the last quarter. Vanguard Group Inc. raised its stake in Ramaco Resources by 40.0% during the 3rd quarter. Vanguard Group Inc. now owns 2,335,257 shares of the energy company’s stock valued at $77,507,000 after acquiring an additional 667,199 shares in the last quarter. Renaissance Technologies LLC raised its stake in Ramaco Resources by 0.7% during the 4th quarter. Renaissance Technologies LLC now owns 1,526,164 shares of the energy company’s stock valued at $27,471,000 after acquiring an additional 9,860 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Ramaco Resources by 38.5% during the 1st 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 in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in Ramaco Resources by 74.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,160,898 shares of the energy company’s stock valued at $20,896,000 after acquiring an additional 496,150 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.