Ramaco Resources (NASDAQ:METC) Downgraded to "Strong Sell" Rating by Zacks Research

Key Points

• Ramaco Resources has been downgraded from a "hold" rating to a "strong sell" rating by Zacks Research, indicating a negative outlook for the stock.
• Despite the downgrade, other analysts like B. Riley and Northland Securities have given the company a "buy" rating with a price target of $50.00, showing mixed opinions on its potential.
• Ramaco Resources reported a quarterly revenue of $152.96 million, surpassing expectations, but posted a lower EPS of ($0.29), missing the consensus estimate.

Ramaco Resources (NASDAQ:METC - Get Free Report) was downgraded by Zacks Research from a "hold" rating to a "strong sell" rating in a report released on Monday,Zacks.com reports.

METC has been the topic of a number of other reports. B. Riley upped their price target on shares of Ramaco Resources from $14.00 to $50.00 and gave the company a "buy" rating in a research note on Wednesday, October 8th. Northland Securities assumed coverage on shares of Ramaco Resources in a research note on Thursday, October 9th. They set an "outperform" rating and a $50.00 price target on the stock. Northland Capmk upgraded shares of Ramaco Resources to a "strong-buy" rating in a research note on Wednesday, October 8th. Weiss Ratings restated a "hold (c-)" rating on shares of Ramaco Resources in a research note on Wednesday, October 8th. Finally, Benchmark restated a "buy" rating and set a $24.00 price target (up from $14.00) on shares of Ramaco Resources in a research note on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $42.25.

Ramaco Resources Stock Performance

Shares of METC opened at $54.55 on Monday. The firm has a market cap of $3.01 billion, a PE ratio of -121.22 and a beta of 1.37. The stock's fifty day moving average price is $29.46 and its two-hundred day moving average price is $18.08. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.36 and a quick ratio of 0.84. Ramaco Resources has a 1 year low of $6.30 and a 1 year high of $55.05.

Ramaco Resources (NASDAQ:METC - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The energy company reported ($0.29) EPS for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.07). The business had revenue of $152.96 million for the quarter, compared to analysts' expectations of $131.55 million. Ramaco Resources had a negative net margin of 3.17% and a negative return on equity of 5.55%. The business's quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 earnings per share. On average, equities research analysts forecast that Ramaco Resources will post 0.05 EPS for the current year.

Insider Activity at Ramaco Resources

In other news, Director Peter A. Leidel sold 1,600,000 shares of the stock in a transaction on Friday, August 8th. The shares were sold at an average price of $18.75, for a total value of $30,000,000.00. Following the transaction, the director owned 2,502,930 shares of the company's stock, valued at $46,929,937.50. This represents a 39.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 36.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Ramaco Resources

Institutional investors and hedge funds have recently made changes to their positions in the business. Brooklyn Investment Group bought a new position in shares of Ramaco Resources during the 1st quarter valued at $25,000. Ameritas Investment Partners Inc. grew its holdings in shares of Ramaco Resources by 63.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,632 shares of the energy company's stock valued at $48,000 after purchasing an additional 1,416 shares during the last quarter. State of Wyoming bought a new position in shares of Ramaco Resources during the 1st quarter valued at $50,000. AlphaQuest LLC grew its holdings in shares of Ramaco Resources by 30.6% during the 1st quarter. AlphaQuest LLC now owns 6,332 shares of the energy company's stock valued at $52,000 after purchasing an additional 1,482 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in shares of Ramaco Resources by 384.0% during the 2nd quarter. Farther Finance Advisors LLC now owns 3,920 shares of the energy company's stock valued at $52,000 after purchasing an additional 3,110 shares during the last quarter. Institutional investors own 74.49% of the company's stock.

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.

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