Ramaco Resources (NASDAQ:METC) Stock Price Expected to Rise, Benchmark Analyst Says

Ramaco Resources (NASDAQ:METC) had its price objective upped by equities researchers at Benchmark from $24.00 to $38.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the energy company’s stock. Benchmark’s price target indicates a potential upside of 28.16% from the company’s previous close.

METC has been the subject of several other reports. Jefferies Financial Group cut Ramaco Resources from a “buy” rating to a “hold” rating and reduced their price target for the company from $45.00 to $33.00 in a report on Tuesday. Zacks Research cut Ramaco Resources from a “hold” rating to a “strong sell” rating in a report on Monday, October 13th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Ramaco Resources in a report on Wednesday, October 8th. Northland Capmk raised Ramaco Resources to a “strong-buy” rating in a report on Wednesday, October 8th. Finally, Northland Securities set a $44.00 price objective on Ramaco Resources in a report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $41.60.

Ramaco Resources Stock Up 2.3%

METC opened at $29.65 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.97 and a quick ratio of 0.84. The business has a 50 day simple moving average of $33.23 and a 200-day simple moving average of $20.66. The stock has a market capitalization of $1.64 billion, a P/E ratio of -44.25 and a beta of 1.37. Ramaco Resources has a 12 month low of $6.30 and a 12 month high of $57.80.

Ramaco Resources (NASDAQ:METC) last posted its quarterly earnings results on Monday, October 27th. The energy company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.05. The business had revenue of $121.00 million during the quarter, compared to analysts’ expectations of $137.63 million. Ramaco Resources had a negative return on equity of 8.26% and a negative net margin of 5.67%.The company’s quarterly revenue was down 27.7% compared to the same quarter last year. During the same period last year, the firm earned ($0.03) EPS. On average, equities analysts anticipate that Ramaco Resources will post 0.05 earnings per share for the current fiscal year.

Insider Buying and Selling at Ramaco Resources

In other news, Director Peter A. Leidel sold 1,600,000 shares of the business’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $18.75, for a total value of $30,000,000.00. Following the completion of the transaction, the director directly owned 2,502,930 shares of the company’s stock, valued at $46,929,937.50. The trade was a 39.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 36.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ramaco Resources

Institutional investors have recently made changes to their positions in the stock. Brooklyn Investment Group acquired a new position in shares of Ramaco Resources in the first quarter worth $25,000. Ameritas Investment Partners Inc. raised its holdings in shares of Ramaco Resources by 63.9% in the second quarter. Ameritas Investment Partners Inc. now owns 3,632 shares of the energy company’s stock worth $48,000 after acquiring an additional 1,416 shares during the last quarter. State of Wyoming acquired a new position in shares of Ramaco Resources in the first quarter worth $50,000. AlphaQuest LLC raised its holdings in shares of Ramaco Resources by 30.6% in the first quarter. AlphaQuest LLC now owns 6,332 shares of the energy company’s stock worth $52,000 after acquiring an additional 1,482 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in shares of Ramaco Resources by 384.0% in the second quarter. Farther Finance Advisors LLC now owns 3,920 shares of the energy company’s stock worth $52,000 after acquiring an additional 3,110 shares during the last quarter. 74.49% of the stock is owned by institutional investors and hedge funds.

About Ramaco Resources

Ramaco Resources, Inc engages in the development, operation, and sale of metallurgical coal. Its development portfolio includes the Elk Creek project that covers an area of approximately 20,200 acres located in southern West Virginia; the Berwind property covering an area of approximately 62,500 acres situated on the border of West Virginia and Virginia; the Knox Creek property, which covers an area of approximately 64,050 acres is located in Virginia; the Maben property covering an area of approximately 28,000 acres situated in southwestern Pennsylvania southern West Virginia; and the Brook Mine property that covers an area of approximately 16,000 acres located in northeastern Wyoming.