Ramaco Resources (NASDAQ:METC) Price Target Lowered to $20.00 at Benchmark

Ramaco Resources (NASDAQ:METC - Get Free Report) had its target price reduced by investment analysts at Benchmark from $24.00 to $20.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a "buy" rating on the energy company's stock. Benchmark's price target points to a potential upside of 54.44% from the stock's previous close.

Several other equities analysts have also weighed in on the company. B. Riley cut their price target on Ramaco Resources from $24.00 to $22.00 and set a "buy" rating for the company in a research note on Friday. UBS Group initiated coverage on Ramaco Resources in a report on Tuesday, January 16th. They issued a "neutral" rating and a $21.00 price objective on the stock. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $17.50.

Ramaco Resources Price Performance

Shares of Ramaco Resources stock traded down $0.35 on Friday, hitting $12.95. The company's stock had a trading volume of 1,010,675 shares, compared to its average volume of 506,801. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.90 and a current ratio of 1.12. Ramaco Resources has a 1 year low of $7.26 and a 1 year high of $22.70. The firm has a fifty day moving average price of $16.53 and a 200-day moving average price of $16.87. The company has a market capitalization of $573.17 million, a price-to-earnings ratio of 7.44 and a beta of 1.15.

Ramaco Resources (NASDAQ:METC - Get Free Report) last announced its quarterly earnings results on Thursday, March 7th. The energy company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.07). Ramaco Resources had a net margin of 11.87% and a return on equity of 24.28%. The business had revenue of $202.73 million during the quarter, compared to analysts' expectations of $182.60 million. As a group, sell-side analysts anticipate that Ramaco Resources will post 1.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ramaco Resources

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Ramaco Resources by 8.9% during the 1st quarter. Vanguard Group Inc. now owns 1,591,146 shares of the energy company's stock worth $26,795,000 after purchasing an additional 130,593 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of Ramaco Resources by 12.9% during the 1st quarter. SG Americas Securities LLC now owns 21,545 shares of the energy company's stock worth $363,000 after purchasing an additional 2,460 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of Ramaco Resources by 8.2% during the 1st quarter. Empowered Funds LLC now owns 101,515 shares of the energy company's stock worth $1,710,000 after purchasing an additional 7,667 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Ramaco Resources during the 1st quarter worth approximately $93,000. Finally, Principal Financial Group Inc. boosted its holdings in shares of Ramaco Resources by 111.1% during the 1st quarter. Principal Financial Group Inc. now owns 54,732 shares of the energy company's stock worth $922,000 after purchasing an additional 28,806 shares during the last quarter. 74.49% of the stock is currently 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.