Shares of Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report) have received a consensus rating of "Hold" from the nine brokerages that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $22.4286.
Several brokerages recently issued reports on METC. Robert W. Baird reissued a "neutral" rating and set a $13.00 price objective on shares of Ramaco Resources in a report on Tuesday, August 18th. Wall Street Zen cut Ramaco Resources from a "sell" rating to a "strong sell" rating in a research report on Saturday. B. Riley Financial reiterated a "buy" rating on shares of Ramaco Resources in a report on Tuesday, August 18th. Morgan Stanley reduced their price target on Ramaco Resources from $13.00 to $11.00 and set an "equal weight" rating for the company in a research report on Tuesday, August 18th. Finally, Weiss Ratings cut Ramaco Resources from a "sell (d)" rating to a "sell (d-)" rating in a research note on Thursday, August 6th.
Check Out Our Latest Report on Ramaco Resources
Insider Buying and Selling
In other Ramaco Resources news, major shareholder Discovery Capital Management, sold 500,000 shares of the stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $9.57, for a total transaction of $4,785,000.00. Following the completion of the sale, the insider directly owned 4,811,360 shares of the company's stock, valued at approximately $46,044,715.20. This represents a 9.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 46.07% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of METC. Allworth Financial LP lifted its position in Ramaco Resources by 3,603.6% during the third quarter. Allworth Financial LP now owns 1,037 shares of the energy company's stock valued at $34,000 after acquiring an additional 1,009 shares during the last quarter. Advisory Services Network LLC acquired a new position in Ramaco Resources during the 3rd quarter valued at about $38,000. Quarry LP acquired a new stake in Ramaco Resources in the fourth quarter worth about $27,000. Caitong International Asset Management Co. Ltd grew its stake in shares of Ramaco Resources by 14,250.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,722 shares of the energy company's stock worth $31,000 after acquiring an additional 1,710 shares during the last quarter. Finally, Sunbelt Securities Inc. increased its holdings in shares of Ramaco Resources by 400.0% during the third quarter. Sunbelt Securities Inc. now owns 2,500 shares of the energy company's stock valued at $83,000 after acquiring an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 74.49% of the company's stock.
Ramaco Resources Price Performance
Shares of Ramaco Resources stock opened at $11.90 on Monday. The company has a debt-to-equity ratio of 1.23, a current ratio of 4.23 and a quick ratio of 3.31. The stock has a market cap of $754.32 million, a price-to-earnings ratio of -11.12 and a beta of 1.37. The firm's 50-day moving average is $11.80 and its two-hundred day moving average is $14.04. Ramaco Resources has a 1 year low of $8.56 and a 1 year high of $57.80.
Ramaco Resources (NASDAQ:METC - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The energy company reported ($0.26) EPS for the quarter, meeting the consensus estimate of ($0.26). Ramaco Resources had a negative net margin of 11.98% and a negative return on equity of 13.54%. The business had revenue of $122.32 million during the quarter, compared to analyst estimates of $133.11 million. As a group, research analysts expect that Ramaco Resources will post -1.02 earnings per share for the current fiscal year.
About Ramaco Resources
(
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.
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