Ramaco Resources, Inc. (NASDAQ:METC) Receives $32.00 Consensus PT from Analysts

Ramaco Resources, Inc. (NASDAQ:METC) has been given a consensus recommendation of “Moderate Buy” by the nine analysts that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $32.00.

Several brokerages have recently weighed in on METC. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Ramaco Resources in a research report on Monday, December 29th. Morgan Stanley decreased their target price 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. Robert W. Baird decreased their target price 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. Zacks Research raised Ramaco Resources from a “strong sell” rating to a “hold” rating in a research report on Friday, April 10th. Finally, The Goldman Sachs Group raised Ramaco Resources from a “sell” rating to a “neutral” rating and upped their target price for the stock from $14.00 to $15.00 in a research report on Tuesday.

Ramaco Resources Trading Down 6.3%

NASDAQ METC opened at $13.98 on Tuesday. Ramaco Resources has a one year low of $8.21 and a one year high of $57.80. The company’s 50 day moving average price is $14.96 and its 200 day moving average price is $20.76. 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 firm has a market capitalization of $938.34 million, a price-to-earnings ratio of -14.12 and a beta of 1.43.

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

Institutional Investors Weigh In On Ramaco Resources

Several institutional investors and hedge funds have recently modified their holdings of the stock. State Street Corp boosted its position in shares of Ramaco Resources by 10.2% in the fourth quarter. State Street Corp now owns 2,489,797 shares of the energy company’s stock worth $44,816,000 after buying an additional 230,197 shares during the period. Vanguard Group Inc. boosted its position in shares of Ramaco Resources by 40.0% in the third quarter. Vanguard Group Inc. now owns 2,335,257 shares of the energy company’s stock worth $77,507,000 after buying an additional 667,199 shares during the period. Renaissance Technologies LLC boosted its position in shares of Ramaco Resources by 0.7% in the fourth quarter. Renaissance Technologies LLC now owns 1,526,164 shares of the energy company’s stock worth $27,471,000 after buying an additional 9,860 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Ramaco Resources by 74.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,160,898 shares of the energy company’s stock valued at $20,896,000 after purchasing an additional 496,150 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Ramaco Resources by 9.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,036,433 shares of the energy company’s stock valued at $18,652,000 after purchasing an additional 92,649 shares during the last quarter. Hedge funds and other institutional investors own 74.49% of the company’s stock.

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.