Ramaco Resources (NASDAQ:METC) Price Target Cut to $17.00 by Analysts at B. Riley Financial

Key Points

• B. Riley cut its price target on Ramaco Resources from $24 to $17 but maintained a Buy rating, citing potential upside of 187% from the then-current share price. Analysts overall held an average Hold rating with an average target of $17.50.
• Shares fell 12.2% to $5.92 in Wednesday trading, near the stock’s 52-week low of $5.73.
• The company reported a quarterly loss of $0.32 per share, missing the $0.24 loss analysts expected, while revenue of $150.09 million topped estimates of $140.23 million.

Ramaco Resources (NASDAQ:METC - Get Free Report) had its target price decreased by stock analysts at B. Riley Financial from $24.00 to $17.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a "buy" rating on the energy company's stock. B. Riley Financial's price target would indicate a potential upside of 187.31% from the stock's current price.

A number of other research firms have also commented on METC. Wall Street Zen lowered shares of Ramaco Resources from a "sell" rating to a "strong sell" rating in a research note on Sunday, October 4th. The Goldman Sachs Group cut their target price on shares of Ramaco Resources from $11.00 to $8.00 and set a "neutral" rating on the stock in a research note on Friday, October 23rd. Morgan Stanley reduced their target price on Ramaco Resources from $13.00 to $11.00 and set an "equal weight" rating for the company in a report on Tuesday, August 18th. Weiss Ratings lowered Ramaco Resources from a "sell (d)" rating to a "sell (d-)" rating in a report on Thursday, August 6th. Finally, Robert W. Baird cut Ramaco Resources from an "outperform" rating to a "neutral" rating and set a $13.00 target price for the company. in a research report on Tuesday, August 18th. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $17.50.

Ramaco Resources Trading Down 12.2%

METC stock traded down $0.82 during mid-day trading on Wednesday, reaching $5.92. 1,404,685 shares of the stock traded hands, compared to its average volume of 2,074,623. Ramaco Resources has a 52-week low of $5.73 and a 52-week high of $28.67. The stock's fifty day moving average is $9.53 and its 200-day moving average is $13.39. The company has a market cap of $375.08 million, a P/E ratio of -5.53 and a beta of 1.46. The company has a current ratio of 4.23, a quick ratio of 3.31 and a debt-to-equity ratio of 1.23.

Ramaco Resources (NASDAQ:METC - Get Free Report) last released its earnings results on Tuesday, November 3rd. The energy company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.08). Ramaco Resources had a negative return on equity of 13.54% and a negative net margin of 11.98%. The firm had revenue of $150.09 million during the quarter, compared to analysts' expectations of $140.23 million. As a group, sell-side analysts expect that Ramaco Resources will post -0.97 earnings per share for the current year.

Insider Buying and Selling at Ramaco Resources

In other news, major shareholder Discovery Capital Management, sold 500,000 shares of the company's stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $9.57, for a total value of $4,785,000.00. Following the transaction, the insider owned 4,811,360 shares in the company, valued at $46,044,715.20. This represents a 9.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 46.07% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp purchased a new stake in Ramaco Resources in the 2nd quarter worth approximately $102,000. Fifth Third Bancorp grew its holdings in shares of Ramaco Resources by 1,274.6% during the 1st quarter. Fifth Third Bancorp now owns 6,873 shares of the energy company's stock valued at $106,000 after acquiring an additional 6,373 shares in the last quarter. BankChampaign National Association purchased a new position in shares of Ramaco Resources during the 1st quarter valued at $187,000. Jupiter Topco LLC purchased a new position in shares of Ramaco Resources during the 2nd quarter valued at $195,000. Finally, Elevation Point Wealth Partners LLC acquired a new position in shares of Ramaco Resources in the first quarter worth $197,000. 74.49% of the stock is owned by hedge funds and other institutional investors.

Ramaco Resources Company Profile

Ramaco Resources, Inc is a coal producer focused primarily on the development and operation of metallurgical coal mines. Its metallurgical coal is used by steelmakers in the production of coke, a key input in traditional steel manufacturing. The company also produces and sells thermal coal and related coal products where commercially appropriate.

Ramaco Resources operates mining assets in the Central Appalachian region of the United States, including properties in southern West Virginia and Virginia, and owns the Brook Mine development in Sheridan, Wyoming.

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