Ramaco Resources (NASDAQ:METC) Upgraded by The Goldman Sachs Group to “Hold” Rating

Ramaco Resources (NASDAQ:METC) was upgraded by equities researchers at The Goldman Sachs Group from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other equities research analysts also recently commented on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of Ramaco Resources in a research report on Monday, December 29th. Robert W. Baird dropped their price objective on shares of Ramaco Resources from $40.00 to $30.00 and set an “outperform” rating on the stock in a research report on Friday, February 27th. Jefferies Financial Group raised shares of Ramaco Resources from a “hold” rating to a “buy” rating and dropped their price objective for the company from $33.00 to $30.00 in a research report on Tuesday, January 20th. Morgan Stanley dropped their price objective on shares of Ramaco Resources from $17.50 to $17.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 9th. Finally, Zacks Research upgraded shares of Ramaco Resources from a “strong sell” rating to a “hold” rating in a report on Friday, April 10th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $32.00.

Ramaco Resources Trading Up 6.1%

Shares of NASDAQ:METC opened at $14.93 on Monday. Ramaco Resources has a 52 week low of $8.21 and a 52 week high of $57.80. The company’s 50 day moving average is $15.05 and its two-hundred day moving average is $20.85. The company has a current ratio of 5.46, a quick ratio of 4.66 and a debt-to-equity ratio of 0.95. The company has a market cap of $1.00 billion, a PE ratio of -15.08 and a beta of 1.43.

Ramaco Resources (NASDAQ:METC) last announced its quarterly earnings data on Wednesday, February 25th. The energy company reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.02. Ramaco Resources had a negative net margin of 9.59% and a negative return on equity of 12.01%. The company had revenue of $108.72 million for the quarter, compared to the consensus estimate of $143.48 million. During the same period in the prior year, the firm posted $0.02 EPS. The company’s quarterly revenue was down 25.1% compared to the same quarter last year. Equities analysts predict that Ramaco Resources will post -0.04 earnings per share for the current fiscal year.

Ramaco Resources declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, December 23rd that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the energy company to buy up to 9.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of METC. Quarry LP acquired a new position in shares of Ramaco Resources in the 4th quarter valued at $27,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Ramaco Resources by 14,250.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,722 shares of the energy company’s stock valued at $31,000 after buying an additional 1,710 shares in the last quarter. Archer Investment Corp acquired a new position in shares of Ramaco Resources in the 3rd quarter valued at $33,000. Allworth Financial LP boosted its holdings in shares of Ramaco Resources by 3,603.6% in the 3rd 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 in the last quarter. Finally, MCF Advisors LLC acquired a new position in shares of Ramaco Resources in the 3rd quarter valued at $35,000. Institutional investors and hedge funds 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.