Ramaco Resources, Inc. (NASDAQ:METC) Short Interest Down 31.1% in April

Ramaco Resources, Inc. (NASDAQ:METCGet Rating) was the target of a large drop in short interest in April. As of April 15th, there was short interest totalling 676,800 shares, a drop of 31.1% from the March 31st total of 982,000 shares. Approximately 3.1% of the company’s stock are sold short. Based on an average trading volume of 891,800 shares, the short-interest ratio is currently 0.8 days.

Several equities analysts have weighed in on METC shares. B. Riley raised their price objective on Ramaco Resources from $20.00 to $22.00 in a research note on Thursday, February 3rd. Jefferies Financial Group raised their price objective on Ramaco Resources from $16.00 to $19.00 and gave the company a “hold” rating in a research note on Wednesday, March 9th. Finally, Zacks Investment Research upgraded Ramaco Resources from a “hold” rating to a “strong-buy” rating and set a $17.00 price objective on the stock in a research note on Thursday. 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 company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $19.00.

Several institutional investors have recently made changes to their positions in the company. Morgan Stanley increased its holdings in Ramaco Resources by 9.2% in the 2nd quarter. Morgan Stanley now owns 52,688 shares of the energy company’s stock worth $288,000 after acquiring an additional 4,441 shares during the last quarter. Advisor Group Holdings Inc. purchased a new stake in Ramaco Resources in the 3rd quarter worth about $41,000. BlackRock Inc. increased its holdings in Ramaco Resources by 4.1% in the 3rd quarter. BlackRock Inc. now owns 45,806 shares of the energy company’s stock worth $564,000 after acquiring an additional 1,806 shares during the last quarter. O Shaughnessy Asset Management LLC increased its holdings in Ramaco Resources by 10,349.0% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 20,062 shares of the energy company’s stock worth $247,000 after acquiring an additional 19,870 shares during the last quarter. Finally, Goldman Sachs Group Inc. purchased a new stake in Ramaco Resources in the 3rd quarter worth about $161,000. 63.77% of the stock is owned by hedge funds and other institutional investors.

Shares of Ramaco Resources stock opened at $15.89 on Friday. Ramaco Resources has a 1 year low of $3.93 and a 1 year high of $21.73. The firm has a market cap of $703.45 million, a PE ratio of 17.46 and a beta of 1.10. The stock has a fifty day moving average price of $16.61 and a 200-day moving average price of $14.58. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.86 and a quick ratio of 1.52.

Ramaco Resources (NASDAQ:METCGet Rating) last announced its earnings results on Thursday, February 24th. The energy company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.05. Ramaco Resources had a return on equity of 20.80% and a net margin of 14.03%. The firm had revenue of $87.51 million during the quarter, compared to analyst estimates of $88.47 million. During the same period last year, the firm posted ($0.11) EPS. As a group, equities analysts anticipate that Ramaco Resources will post 6.38 EPS for the current fiscal year.

About Ramaco Resources (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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