Analysts Set Ramaco Resources, Inc. (NASDAQ:METC) Price Target at $32.21

Shares of Ramaco Resources, Inc. (NASDAQ:METCGet Free Report) have earned a consensus rating of “Hold” from the nine ratings firms that are currently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $31.9286.

Several research firms recently issued reports on METC. Weiss Ratings reissued a “sell (d+)” rating on shares of Ramaco Resources in a research note on Monday, December 29th. Morgan Stanley assumed coverage on shares of Ramaco Resources in a research note on Friday, December 5th. They issued an “equal weight” rating and a $17.50 price target for the company. Zacks Research cut shares of Ramaco Resources from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 3rd. The Goldman Sachs Group dropped their price objective on shares of Ramaco Resources from $16.00 to $14.00 and set a “sell” rating for the company in a report on Monday. Finally, Jefferies Financial Group upgraded shares of Ramaco Resources from a “hold” rating to a “buy” rating and cut their target price for the stock from $33.00 to $30.00 in a research report on Tuesday, January 20th.

View Our Latest Analysis on Ramaco Resources

Ramaco Resources Trading Up 2.4%

Shares of Ramaco Resources stock opened at $15.84 on Monday. The company’s 50-day moving average price is $19.04 and its 200-day moving average price is $24.00. The company has a current ratio of 5.46, a quick ratio of 4.66 and a debt-to-equity ratio of 0.95. Ramaco Resources has a 12-month low of $6.30 and a 12-month high of $57.80. The company has a market cap of $886.41 million, a price-to-earnings ratio of -16.00 and a beta of 1.41.

Ramaco Resources (NASDAQ:METCGet Free Report) last posted its earnings results on Wednesday, February 25th. The energy company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.02. The business had revenue of $108.72 million for the quarter, compared to analyst estimates of $143.48 million. Ramaco Resources had a negative net margin of 9.59% and a negative return on equity of 12.01%. Ramaco Resources’s revenue was down 25.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.02 EPS. On average, equities analysts expect that Ramaco Resources will post 0.05 earnings per share for the current fiscal year.

Ramaco Resources declared that its Board of Directors has approved a stock repurchase plan on Tuesday, December 23rd that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the energy company to repurchase up to 9.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its shares are undervalued.

Institutional Trading of Ramaco Resources

Hedge funds have recently bought and sold shares of the company. American Century Companies Inc. boosted its stake in shares of 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 valued at $13,510,000 after purchasing an additional 79,858 shares in the last quarter. Geode Capital Management LLC lifted its stake in Ramaco Resources by 25.0% in the second 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. Benjamin Edwards Inc. purchased a new stake in Ramaco Resources during the third quarter valued at about $899,000. Bosun Asset Management LLC purchased a new stake in Ramaco Resources during the second quarter valued at about $819,000. Finally, Shikiar Asset Management Inc. bought a new position in shares of Ramaco Resources during the third quarter valued at about $1,162,000. Institutional investors own 74.49% of the company’s stock.

Key Headlines Impacting Ramaco Resources

Here are the key news stories impacting Ramaco Resources this week:

Ramaco Resources Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Ramaco Resources (NASDAQ:METC)

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