Morgan Stanley Cuts Ramaco Resources (NASDAQ:METC) Price Target to $17.00

Ramaco Resources (NASDAQ:METC) had its price objective decreased by Morgan Stanley from $17.50 to $17.00 in a research report released on Thursday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the energy company’s stock.

Other equities analysts have also issued reports about the stock. The Goldman Sachs Group cut their price objective on shares of Ramaco Resources from $16.00 to $14.00 and set a “sell” rating for the company in a research report on Monday, March 2nd. Zacks Research lowered shares of Ramaco Resources from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 3rd. Jefferies Financial Group upgraded shares of Ramaco Resources from a “hold” rating to a “buy” rating and cut their price objective for the company from $33.00 to $30.00 in a research report on Tuesday, January 20th. Robert W. Baird cut their price objective on shares of Ramaco Resources from $40.00 to $30.00 and set an “outperform” rating for the company in a research report on Friday, February 27th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Ramaco Resources in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $31.86.

Ramaco Resources Stock Performance

NASDAQ METC opened at $13.55 on Thursday. Ramaco Resources has a 52-week low of $7.70 and a 52-week high of $57.80. The company has a 50-day simple moving average of $15.67 and a 200 day simple moving average of $21.91. The company has a debt-to-equity ratio of 0.95, a quick ratio of 4.66 and a current ratio of 5.46. The company has a market capitalization of $909.48 million, a PE ratio of -13.69 and a beta of 1.43.

Ramaco Resources (NASDAQ:METC) last posted its quarterly earnings data on Wednesday, February 25th. The energy company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.02. The business had revenue of $108.72 million during the quarter, compared to the consensus estimate of $143.48 million. Ramaco Resources had a negative net margin of 9.59% and a negative return on equity of 12.01%. The firm’s quarterly revenue was down 25.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.02 earnings per share. On average, research analysts predict that Ramaco Resources will post 0.05 EPS for the current year.

Ramaco Resources declared that its board has approved a stock repurchase program on Tuesday, December 23rd that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the energy company to purchase up to 9.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in METC. Quarry LP purchased a new position in shares of Ramaco Resources during the fourth quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd raised its stake in shares of Ramaco Resources by 14,250.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,722 shares of the energy company’s stock worth $31,000 after acquiring an additional 1,710 shares in the last quarter. Archer Investment Corp purchased a new position in shares of Ramaco Resources during the third quarter worth approximately $33,000. Allworth Financial LP raised its stake in shares of Ramaco Resources by 3,603.6% during the third quarter. Allworth Financial LP now owns 1,037 shares of the energy company’s stock worth $34,000 after acquiring an additional 1,009 shares in the last quarter. Finally, MCF Advisors LLC purchased a new position in shares of Ramaco Resources during the third quarter worth approximately $35,000. 74.49% of the stock is owned by hedge funds and other institutional investors.

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.