Ramaco Resources (NASDAQ:METC) Receives Buy Rating from Benchmark

Key Points

• Benchmark has upgraded the price target for Ramaco Resources (NASDAQ:METC) from $14.00 to $24.00, indicating a potential upside of 10.57% based on the current stock price.
• While Benchmark maintains a "buy" rating, Wall Street Zen has downgraded METC shares from "hold" to "sell," illustrating mixed views among analysts.
• In its latest earnings report, Ramaco Resources reported a loss of $0.29 per share, missing analyst expectations, while revenues were down 1.5% year-over-year at $152.96 million.

Benchmark reiterated their buy rating on shares of Ramaco Resources (NASDAQ:METC - Free Report) in a report issued on Tuesday, Marketbeat reports. The firm currently has a $24.00 price objective on the energy company's stock, up from their previous price objective of $14.00.

Several other brokerages also recently issued reports on METC. Wall Street Zen downgraded shares of Ramaco Resources from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Jefferies Financial Group restated a "buy" rating and issued a $27.00 target price (up from $15.00) on shares of Ramaco Resources in a report on Wednesday, July 16th. Finally, B. Riley lowered their price target on Ramaco Resources from $18.00 to $14.00 and set a "buy" rating for the company in a research report on Friday, April 11th.

Ramaco Resources Stock Performance

Shares of Ramaco Resources stock traded down $0.35 during trading on Tuesday, hitting $20.17. 2,413,468 shares of the company's stock were exchanged, compared to its average volume of 1,352,515. Ramaco Resources has a 52-week low of $6.30 and a 52-week high of $24.75. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.87 and a current ratio of 1.36. The stock has a market capitalization of $897.89 million, a price-to-earnings ratio of -44.51 and a beta of 1.35. The business has a 50-day simple moving average of $14.91 and a 200-day simple moving average of $11.21.

Ramaco Resources (NASDAQ:METC - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The energy company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.07). The company had revenue of $152.96 million for the quarter, compared to analysts' expectations of $131.55 million. Ramaco Resources had a negative return on equity of 5.55% and a negative net margin of 3.17%. The firm's revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.08 EPS. On average, research analysts forecast that Ramaco Resources will post 0.05 EPS for the current year.

Ramaco Resources Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were given a $0.0688 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Friday, May 30th. Ramaco Resources's dividend payout ratio (DPR) is currently -60.00%.

Institutional Trading of Ramaco Resources

A number of hedge funds have recently made changes to their positions in METC. Brooklyn Investment Group acquired a new stake in shares of Ramaco Resources during the first quarter worth $25,000. State of Wyoming purchased a new stake in shares of Ramaco Resources during the 1st quarter worth approximately $50,000. AlphaQuest LLC grew its stake in Ramaco Resources by 30.6% in the 1st quarter. AlphaQuest LLC now owns 6,332 shares of the energy company's stock valued at $52,000 after buying an additional 1,482 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Ramaco Resources by 384.0% during the second quarter. Farther Finance Advisors LLC now owns 3,920 shares of the energy company's stock valued at $52,000 after buying an additional 3,110 shares during the period. Finally, Quantbot Technologies LP bought a new stake in Ramaco Resources during the first quarter valued at $73,000. 74.49% of the stock is owned by institutional investors and hedge funds.

Ramaco Resources Company Profile

Ramaco Resources, Inc engages in the development, operation, and sale of metallurgical coal. Its development portfolio includes the Elk Creek project that covers an area of approximately 20,200 acres located in southern West Virginia; the Berwind property covering an area of approximately 62,500 acres situated on the border of West Virginia and Virginia; the Knox Creek property, which covers an area of approximately 64,050 acres is located in Virginia; the Maben property covering an area of approximately 28,000 acres situated in southwestern Pennsylvania southern West Virginia; and the Brook Mine property that covers an area of approximately 16,000 acres located in northeastern Wyoming.