Ramaco Resources, Inc. (NASDAQ:METC) Receives Average Recommendation of "Hold" from Brokerages

Key Points

• Analysts collectively rate Ramaco Resources “Hold.” Coverage includes two sell ratings, three holds, three buys and one strong buy, with an average 12-month price target of $22.43.
• Recent analyst actions were mixed: Goldman Sachs cut its target to $11 and maintained a neutral rating, while B. Riley reiterated a buy; other firms issued sell or strong-sell views.
• Ramaco’s stock opened at $9.81, well below its 52-week high of $57.80. The company’s latest quarterly revenue of $122.32 million fell short of the $133.11 million analyst estimate, although EPS matched expectations at a loss of $0.26.

Shares of Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report) have been given a consensus recommendation of "Hold" by the nine research firms that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $22.4286.

METC has been the topic of several recent analyst reports. Weiss Ratings downgraded Ramaco Resources from a "sell (d)" rating to a "sell (d-)" rating in a report on Thursday, August 6th. B. Riley Financial reiterated a "buy" rating on shares of Ramaco Resources in a report on Tuesday, August 18th. The Goldman Sachs Group dropped their target price on shares of Ramaco Resources from $13.00 to $11.00 and set a "neutral" rating on the stock in a research report on Thursday, August 6th. Wall Street Zen lowered shares of Ramaco Resources from a "sell" rating to a "strong sell" rating in a report on Saturday, August 22nd. Finally, Robert W. Baird restated a "neutral" rating and issued a $13.00 price target on shares of Ramaco Resources in a research report on Tuesday, August 18th.

Insider Transactions at Ramaco Resources

In other news, major shareholder Discovery Capital Management, sold 500,000 shares of the stock in a transaction on 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 completion of the sale, the insider owned 4,811,360 shares in the company, valued at $46,044,715.20. This represents a 9.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 46.07% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its stake in shares of Ramaco Resources by 38.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,435,059 shares of the energy company's stock worth $22,179,000 after buying an additional 398,626 shares during the last quarter. Gratia Capital LLC acquired a new position in Ramaco Resources in the 2nd quarter valued at $1,826,000. Mizuho Markets Americas LLC bought a new position in Ramaco Resources in the 4th quarter worth $2,309,000. Bank of New York Mellon Corp bought a new position in Ramaco Resources in the 2nd quarter worth $1,486,000. Finally, Texas Yale Capital Corp. raised its holdings in Ramaco Resources by 331.9% in the 4th quarter. Texas Yale Capital Corp. now owns 142,488 shares of the energy company's stock worth $2,565,000 after acquiring an additional 109,500 shares during the period. Hedge funds and other institutional investors own 74.49% of the company's stock.

Ramaco Resources Stock Performance

METC opened at $9.81 on Friday. The company has a quick ratio of 3.31, a current ratio of 4.23 and a debt-to-equity ratio of 1.23. The firm has a market cap of $621.86 million, a PE ratio of -9.17 and a beta of 1.39. The business has a fifty day simple moving average of $11.50 and a 200-day simple moving average of $13.40. Ramaco Resources has a fifty-two week low of $8.56 and a fifty-two week high of $57.80.

Ramaco Resources (NASDAQ:METC - Get Free Report) last announced its earnings results on Tuesday, August 4th. The energy company reported ($0.26) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.26). Ramaco Resources had a negative return on equity of 13.54% and a negative net margin of 11.98%.The company had revenue of $122.32 million for the quarter, compared to analyst estimates of $133.11 million. As a group, equities analysts predict that Ramaco Resources will post -1.02 EPS for the current fiscal year.

Ramaco Resources Company Profile

Ramaco Resources, Inc is a metallurgical coal producer headquartered in Lexington, Kentucky. The company develops, operates and sells metallurgical coal used primarily in the production of steel. Its products include various grades of high-quality metallurgical coal, including high-volatility and low-volatility products, as well as coal suitable for pulverized coal injection applications.

Ramaco operates mining complexes in Central Appalachia, including properties in West Virginia and Virginia.

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