Ramaco Resources, Inc. (NASDAQ:METC) Receives $34.50 Average Target Price from Analysts

Shares of Ramaco Resources, Inc. (NASDAQ:METC) have been given a consensus rating of “Hold” by the eleven ratings firms that are presently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation, four have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $34.50.

A number of brokerages recently weighed in on METC. Benchmark raised their price objective on Ramaco Resources from $24.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Weiss Ratings restated a “sell (d+)” rating on shares of Ramaco Resources in a report on Monday. The Goldman Sachs Group assumed coverage on shares of Ramaco Resources in a research note on Wednesday, November 19th. They set a “sell” rating and a $16.00 price objective for the company. Northland Capmk raised shares of Ramaco Resources to a “strong-buy” rating in a research report on Wednesday, October 8th. Finally, Morgan Stanley began coverage on shares of Ramaco Resources in a research note on Friday, December 5th. They issued an “equal weight” rating and a $17.50 target price for the company.

Ramaco Resources Stock Performance

Shares of METC stock opened at $14.57 on Wednesday. The firm has a market cap of $961.62 million, a price-to-earnings ratio of -21.75 and a beta of 1.41. Ramaco Resources has a 52-week low of $6.30 and a 52-week high of $57.80. The company has a quick ratio of 2.24, a current ratio of 2.97 and a debt-to-equity ratio of 0.24. The company’s 50 day moving average is $25.06 and its 200 day moving average is $23.04.

Ramaco Resources (NASDAQ:METC) last announced its earnings results on Monday, October 27th. The energy company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.05. Ramaco Resources had a negative return on equity of 8.26% and a negative net margin of 5.67%.The business had revenue of $104.87 million for the quarter, compared to analysts’ expectations of $137.63 million. During the same quarter last year, the firm earned ($0.03) EPS. The business’s revenue for the quarter was down 27.7% on a year-over-year basis. On average, sell-side analysts anticipate that Ramaco Resources will post 0.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Ramaco Resources by 40.0% in the third quarter. Vanguard Group Inc. now owns 2,335,257 shares of the energy company’s stock valued at $77,507,000 after buying an additional 667,199 shares during the last quarter. Encompass Capital Advisors LLC purchased a new position in shares of Ramaco Resources in the 1st quarter valued at approximately $13,248,000. American Century Companies Inc. boosted its stake in Ramaco Resources by 8.4% in the 2nd quarter. American Century Companies Inc. now owns 1,028,186 shares of the energy company’s stock worth $13,510,000 after purchasing an additional 79,858 shares in the last quarter. Millennium Management LLC acquired a new stake in Ramaco Resources in the 3rd quarter worth approximately $23,451,000. Finally, Geode Capital Management LLC grew its position in Ramaco Resources by 25.0% during the 2nd quarter. Geode Capital Management LLC now owns 687,343 shares of the energy company’s stock worth $9,033,000 after purchasing an additional 137,635 shares during the last quarter. 74.49% of the stock is owned by institutional investors and hedge funds.

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.