Ramaco Resources (NASDAQ:METC) Upgraded by Zacks Investment Research to “Strong-Buy”

Ramaco Resources (NASDAQ:METCGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Thursday, Zacks.com reports. The brokerage presently has a $17.00 target price on the energy company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 5.33% from the company’s current price.

According to Zacks, “Ramaco Resources Inc. is an operator and developer of metallurgical coal primarily in southern West Virginia, southwestern Virginia and southwestern Pennsylvania. It operates principally in Charleston, West Virginia. Ramaco Resources Inc. is based in Lexington, Kentucky. “

Other equities analysts have also issued reports about the stock. B. Riley upped their target price on shares of Ramaco Resources from $20.00 to $22.00 in a research note on Thursday, February 3rd. Jefferies Financial Group upped their target price on shares of Ramaco Resources from $16.00 to $19.00 and gave the stock a “hold” rating in a research note on Wednesday, March 9th. Two investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $19.00.

METC opened at $16.14 on Thursday. The company has a quick ratio of 1.52, a current ratio of 1.86 and a debt-to-equity ratio of 0.19. Ramaco Resources has a 12 month low of $3.93 and a 12 month high of $21.73. The company has a fifty day simple moving average of $16.61 and a 200 day simple moving average of $14.55. The stock has a market cap of $714.57 million, a P/E ratio of 17.74 and a beta of 1.10.

Ramaco Resources (NASDAQ:METCGet Rating) last released its quarterly earnings data on Thursday, February 24th. The energy company reported $0.42 EPS for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.05. Ramaco Resources had a net margin of 14.03% and a return on equity of 20.80%. The business had revenue of $87.51 million during the quarter, compared to analysts’ expectations of $88.47 million. During the same quarter in the prior year, the company earned ($0.11) EPS. On average, equities research analysts expect that Ramaco Resources will post 6.38 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the company. Truist Financial Corp acquired a new stake in Ramaco Resources in the 1st quarter valued at about $948,000. Ellsworth Advisors LLC bought a new position in Ramaco Resources in the 1st quarter valued at about $379,000. Foundry Partners LLC raised its holdings in Ramaco Resources by 5.1% in the 1st quarter. Foundry Partners LLC now owns 163,105 shares of the energy company’s stock valued at $2,577,000 after acquiring an additional 7,850 shares during the period. Wedge Capital Management L L P NC bought a new position in Ramaco Resources in the 1st quarter valued at about $429,000. Finally, BlackRock Inc. raised its holdings in Ramaco Resources by 265.9% in the 4th quarter. BlackRock Inc. now owns 167,620 shares of the energy company’s stock valued at $2,280,000 after acquiring an additional 121,814 shares during the period. Institutional investors own 63.77% of the company’s stock.

Ramaco Resources Company Profile (Get Rating)

Ramaco Resources, Inc produces and sells metallurgical coal. The company's development portfolio includes the Elk Creek project consisting of approximately 20,200 acres of controlled mineral and 16 seams located in southern West Virginia; the Berwind property comprising approximately 41,300 acres of controlled mineral and an area of Squire Jim seam coal deposits, which is situated on the border of West Virginia and Virginia; the Knox Creek property consisting of approximately 62,100 acres of controlled mineral that is located in Virginia; and the RAM Mine property comprising approximately 1,570 acres of controlled mineral, which is situated in southwestern Pennsylvania.

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