Ramaco Resources, Inc. (NASDAQ:METC) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Analysts give Ramaco Resources a consensus rating of "Moderate Buy" across nine firms, with a 12-month average price target of $32.00 and the breakdown of 1 sell, 3 hold, 4 buy and 1 strong buy.
• Shares opened at $14.07 (1‑year range $8.21–$57.80) and the company reported Q4 EPS of ($0.22), beating estimates by $0.02, while revenue fell 25.1% year‑over‑year and missed expectations; market cap is about $944.38 million.
• Ramaco's board approved a $100.00 million share buyback (up to 9.7% of shares outstanding), and institutional investors hold roughly 74.49% of the stock.

Shares of Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the nine research firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $32.00.

A number of brokerages have weighed in on METC. Jefferies Financial Group upgraded shares of Ramaco Resources from a "hold" rating to a "buy" rating and decreased their price target for the company from $33.00 to $30.00 in a report on Tuesday, January 20th. Morgan Stanley cut their target price on Ramaco Resources from $17.50 to $17.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 9th. Robert W. Baird cut their target price on Ramaco Resources from $40.00 to $30.00 and set an "outperform" rating on the stock in a research report on Friday, February 27th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Ramaco Resources in a research report on Monday, December 29th. Finally, Zacks Research upgraded Ramaco Resources from a "strong sell" rating to a "hold" rating in a research note on Friday, April 10th.

Institutional Investors Weigh In On Ramaco Resources

Institutional investors have recently bought and sold shares of the business. Bridgeway Capital Management LLC raised its stake in shares of Ramaco Resources by 0.4% in the 3rd quarter. Bridgeway Capital Management LLC now owns 122,998 shares of the energy company's stock valued at $4,082,000 after acquiring an additional 536 shares during the period. AlphaQuest LLC raised its stake in shares of Ramaco Resources by 12.6% in the 3rd quarter. AlphaQuest LLC now owns 5,460 shares of the energy company's stock valued at $181,000 after acquiring an additional 610 shares during the period. Archer Investment Corp purchased a new position in shares of Ramaco Resources in the 3rd quarter valued at $33,000. Allworth Financial LP raised its stake in shares of Ramaco Resources by 3,603.6% in the 3rd 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 period. Finally, MCF Advisors LLC purchased a new position in shares of Ramaco Resources in the 3rd quarter valued at $35,000. 74.49% of the stock is currently owned by hedge funds and other institutional investors.

Ramaco Resources Stock Up 3.2%

Shares of NASDAQ METC opened at $14.07 on Tuesday. Ramaco Resources has a 1 year low of $8.21 and a 1 year high of $57.80. The firm's 50 day moving average price is $15.08 and its 200 day moving average price is $21.01. The firm has a market cap of $944.38 million, a P/E ratio of -14.21 and a beta of 1.43. The company has a debt-to-equity ratio of 0.95, a quick ratio of 4.66 and a current ratio of 5.46.

Ramaco Resources (NASDAQ:METC - Get Free Report) last announced its earnings results on Wednesday, February 25th. The energy company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.24) by $0.02. Ramaco Resources had a negative net margin of 9.59% and a negative return on equity of 12.01%. The firm had revenue of $108.72 million for the quarter, compared to analyst estimates of $143.48 million. During the same quarter last year, the business earned $0.02 earnings per share. Ramaco Resources's revenue was down 25.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Ramaco Resources will post -0.04 earnings per share for the current year.

Ramaco Resources announced that its Board of Directors has approved a stock buyback program on Tuesday, December 23rd that permits the company to buyback $100.00 million in shares. This buyback authorization permits the energy company to repurchase up to 9.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

Ramaco Resources Company Profile

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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