Ramaco Resources (NASDAQ:METC) Upgraded at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Ramaco Resources (NASDAQ:METC) from a sell rating to a hold rating in a research report released on Monday morning, MarketBeat.com reports.

METC has been the subject of a number of other research reports. Jefferies Financial Group upgraded Ramaco Resources from a “hold” rating to a “buy” rating and decreased their price target for the company from $33.00 to $30.00 in a research report on Tuesday, January 20th. Morgan Stanley decreased their price target on Ramaco Resources from $17.50 to $17.00 and set an “equal weight” rating for the company in a research report on Thursday, April 9th. Zacks Research upgraded Ramaco Resources from a “strong sell” rating to a “hold” rating in a research report on Friday, April 10th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Ramaco Resources in a research report on Monday, December 29th. Finally, Robert W. Baird decreased their price target on Ramaco Resources from $40.00 to $30.00 and set an “outperform” rating for the company in a research report on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $32.00.

Ramaco Resources Trading Down 0.1%

Shares of Ramaco Resources stock opened at $14.92 on Monday. Ramaco Resources has a fifty-two week low of $8.21 and a fifty-two week high of $57.80. The firm has a market cap of $1.00 billion, a price-to-earnings ratio of -15.07 and a beta of 1.43. The company has a quick ratio of 4.66, a current ratio of 5.46 and a debt-to-equity ratio of 0.95. The business has a fifty day simple moving average of $15.00 and a 200-day simple moving average of $20.81.

Ramaco Resources (NASDAQ:METC) last released its quarterly earnings results on Wednesday, February 25th. The energy company reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.02. Ramaco Resources had a negative return on equity of 12.01% and a negative net margin of 9.59%.The business had revenue of $108.72 million during the quarter, compared to analyst estimates of $143.48 million. During the same quarter last year, the company posted $0.02 EPS. Ramaco Resources’s revenue for the quarter was down 25.1% on a year-over-year basis. On average, equities analysts forecast that Ramaco Resources will post -0.04 EPS for the current fiscal year.

Institutional Investors Weigh In On Ramaco Resources

Hedge funds have recently bought and sold shares of the business. Quarry LP purchased a new stake in Ramaco Resources in the 4th quarter worth about $27,000. Caitong International Asset Management Co. Ltd lifted its stake in Ramaco Resources by 14,250.0% in the 4th 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 stake in Ramaco Resources in the 3rd quarter worth about $33,000. Allworth Financial LP lifted its stake in Ramaco Resources by 3,603.6% in the 3rd 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 stake in Ramaco Resources in the 3rd quarter worth about $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.