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

Key Points

• Analysts collectively rate Ramaco Resources “Hold.” Of nine analysts, four recommend buying, two recommend holding, two recommend selling, and one gives a strong-buy rating; the average 12-month price target is $26.43.
• Several firms recently cut their price targets, including Goldman Sachs and Morgan Stanley to $13, while Zacks Research downgraded the stock to “strong sell.” METC opened at $9.63, near its one-year low of $9.18.
• Quarterly results were weaker than expected: Ramaco reported a $0.30 adjusted loss per share versus the anticipated $0.22 loss, while revenue fell 9.7% year over year to $101.41 million and missed estimates.

Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report) has been assigned a consensus rating of "Hold" from the nine research firms that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $26.4286.

A number of research firms recently commented on METC. The Goldman Sachs Group dropped their price objective on Ramaco Resources from $16.00 to $13.00 and set a "neutral" rating for the company in a research report on Thursday, July 9th. Weiss Ratings restated a "sell (d)" rating on shares of Ramaco Resources in a report on Thursday, June 18th. Morgan Stanley decreased their price target on shares of Ramaco Resources from $17.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 8th. Robert W. Baird lowered their price target on shares of Ramaco Resources from $30.00 to $25.00 and set an "outperform" rating for the company in a report on Wednesday, May 13th. Finally, Zacks Research lowered shares of Ramaco Resources from a "hold" rating to a "strong sell" rating in a research report on Friday, July 17th.

Ramaco Resources Price Performance

Shares of NASDAQ:METC opened at $9.63 on Thursday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 3.93 and a current ratio of 4.88. The business's fifty day moving average price is $13.46 and its two-hundred day moving average price is $15.40. The stock has a market cap of $627.68 million, a PE ratio of -8.75 and a beta of 1.35. Ramaco Resources has a one year low of $9.18 and a one year high of $57.80.

Ramaco Resources (NASDAQ:METC - Get Free Report) last released its quarterly earnings results on Monday, May 11th. The energy company reported ($0.30) earnings per share for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.08). Ramaco Resources had a negative return on equity of 13.44% and a negative net margin of 11.52%.The company had revenue of $101.41 million during the quarter, compared to analyst estimates of $129.72 million. During the same period last year, the firm earned ($0.20) earnings per share. The business's revenue was down 9.7% compared to the same quarter last year. On average, analysts forecast that Ramaco Resources will post -0.58 EPS for the current fiscal year.

Insider Transactions at Ramaco Resources

In related news, major shareholder Discovery Capital Management, sold 200,000 shares of the firm's stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $14.79, for a total transaction of $2,958,000.00. Following the sale, the insider owned 5,311,360 shares in the company, valued at approximately $78,555,014.40. This trade represents a 3.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 46.07% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Quarry LP acquired a new stake in shares of Ramaco Resources during the fourth quarter worth $27,000. Caitong International Asset Management Co. Ltd increased its stake in Ramaco Resources by 14,250.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,722 shares of the energy company's stock valued at $31,000 after purchasing an additional 1,710 shares during the last quarter. 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 worth $34,000 after buying an additional 1,009 shares during the period. Spirit of America Management Corp NY acquired a new stake in Ramaco Resources in the 4th quarter worth about $38,000. Finally, Advisory Services Network LLC acquired a new stake in Ramaco Resources in the 3rd quarter worth about $38,000. Hedge funds and other institutional investors own 74.49% of the company's stock.

About Ramaco Resources

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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