Ramaco Resources, Inc. (NASDAQ:METC) Given Consensus Rating of “Hold” by Brokerages

Ramaco Resources, Inc. (NASDAQ:METC) has been assigned an average rating of “Hold” from the nine ratings firms that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $22.4286.

METC has been the topic of a number of recent research reports. Zacks Research lowered Ramaco Resources from a “hold” rating to a “strong sell” rating in a research report on Friday, July 17th. Benchmark decreased their price objective on shares of Ramaco Resources from $38.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Robert W. Baird reiterated a “neutral” rating and issued a $13.00 price objective on shares of Ramaco Resources in a research note on Tuesday, August 18th. The Goldman Sachs Group reduced their target price on shares of Ramaco Resources from $13.00 to $11.00 and set a “neutral” rating for the company in a report on Thursday, August 6th. Finally, B. Riley Financial restated a “buy” rating on shares of Ramaco Resources in a research report on Tuesday, August 18th.

Ramaco Resources Price Performance

NASDAQ METC opened at $11.90 on Monday. The company has a market cap of $754.32 million, a price-to-earnings ratio of -11.12 and a beta of 1.37. The company has a debt-to-equity ratio of 1.23, a current ratio of 4.23 and a quick ratio of 3.31. The stock’s fifty day moving average price is $11.80 and its 200 day moving average price is $14.04. Ramaco Resources has a 1 year low of $8.56 and a 1 year high of $57.80.

Ramaco Resources (NASDAQ:METC) last issued its quarterly earnings results on Tuesday, August 4th. The energy company reported ($0.26) EPS for the quarter, hitting analysts’ consensus estimates of ($0.26). The company had revenue of $122.32 million during the quarter, compared to analysts’ expectations of $133.11 million. Ramaco Resources had a negative return on equity of 13.54% and a negative net margin of 11.98%. As a group, equities research analysts forecast that Ramaco Resources will post -1.02 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Discovery Capital Management, sold 500,000 shares of the firm’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $9.57, for a total transaction of $4,785,000.00. Following the sale, the insider directly owned 4,811,360 shares of the company’s stock, valued at $46,044,715.20. This trade represents a 9.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 46.07% of the stock is currently owned by company insiders.

Institutional Trading of Ramaco Resources

A number of hedge funds have recently added to or reduced their stakes in METC. Bridgeway Capital Management LLC increased its position in shares of Ramaco Resources by 0.4% during the third quarter. Bridgeway Capital Management LLC now owns 122,998 shares of the energy company’s stock worth $4,082,000 after purchasing an additional 536 shares in the last quarter. Allworth Financial LP raised its position in shares of Ramaco Resources by 3,603.6% in the third quarter. Allworth Financial LP now owns 1,037 shares of the energy company’s stock valued at $34,000 after buying an additional 1,009 shares during the last quarter. Advisory Services Network LLC purchased a new position in shares of Ramaco Resources in the third quarter worth about $38,000. Police & Firemen s Retirement System of New Jersey lifted its stake in shares of Ramaco Resources by 16.0% in the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 9,549 shares of the energy company’s stock worth $172,000 after buying an additional 1,317 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in Ramaco Resources by 51.4% in the 4th quarter. Russell Investments Group Ltd. now owns 3,917 shares of the energy company’s stock valued at $71,000 after acquiring an additional 1,330 shares during the last quarter. 74.49% of the stock is owned by hedge funds and other institutional investors.

Ramaco Resources Company Profile

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.