Ramaco Resources (NASDAQ:METC) Earns "Neutral" Rating from Robert W. Baird

Key Points

• Robert W. Baird reaffirmed a “Neutral” rating on Ramaco Resources, with a $13 price target implying 6.3% upside from the prior close. Analysts overall assign the stock an average “Hold” rating and a $22.71 target price.
• Ramaco’s shares opened at $12.23, while its latest quarterly results matched estimates with a loss of $0.26 per share but missed revenue expectations, reporting $122.32 million versus $133.11 million forecast.
• Insider and institutional activity was mixed: major shareholder Discovery Capital Management sold 500,000 shares, while several large institutional investors increased their stakes. Institutional investors collectively own 74.49% of the company.

Ramaco Resources (NASDAQ:METC - Get Free Report)'s stock had its "neutral" rating reaffirmed by research analysts at Robert W. Baird in a research report issued on Tuesday,Benzinga reports. They currently have a $13.00 price target on the energy company's stock. Robert W. Baird's price objective would indicate a potential upside of 6.30% from the company's previous close.

A number of other research firms have also weighed in on METC. Wall Street Zen raised shares of Ramaco Resources from a "strong sell" rating to a "sell" rating in a research report on Saturday, August 8th. B. Riley Financial decreased their price objective on shares of Ramaco Resources from $24.00 to $22.00 and set a "buy" rating for the company in a research note on Wednesday, May 13th. Zacks Research cut shares of Ramaco Resources from a "hold" rating to a "strong sell" rating in a research report on Friday, July 17th. Benchmark cut their target price on Ramaco Resources from $38.00 to $26.00 and set a "buy" rating on the stock in a research note on Thursday, August 6th. Finally, The Goldman Sachs Group cut their target price on Ramaco Resources from $13.00 to $11.00 and set a "neutral" rating on the stock in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, Ramaco Resources currently has an average rating of "Hold" and an average target price of $22.71.

Ramaco Resources Trading Down 0.2%

Shares of Ramaco Resources stock opened at $12.23 on Tuesday. The company has a market capitalization of $775.24 million, a P/E ratio of -11.43 and a beta of 1.37. The stock has a fifty day simple moving average of $12.05 and a 200 day simple moving average of $14.28. Ramaco Resources has a 12-month low of $8.56 and a 12-month high of $57.80. The company has a current ratio of 4.23, a quick ratio of 3.31 and a debt-to-equity ratio of 1.23.

Ramaco Resources (NASDAQ:METC - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The energy company reported ($0.26) earnings per share for the quarter, meeting the consensus estimate of ($0.26). The business had revenue of $122.32 million for the quarter, compared to analysts' expectations of $133.11 million. Ramaco Resources had a negative return on equity of 13.54% and a negative net margin of 11.98%. On average, sell-side analysts anticipate that Ramaco Resources will post -0.76 earnings per share for the current fiscal year.

Insider Buying and Selling at Ramaco Resources

In related news, major shareholder Discovery Capital Management, sold 500,000 shares of the business's stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $9.57, for a total value of $4,785,000.00. Following the transaction, the insider directly owned 4,811,360 shares of the company's stock, valued at approximately $46,044,715.20. The trade was a 9.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 46.07% of the company's stock.

Institutional Trading of Ramaco Resources

A number of large investors have recently added to or reduced their stakes in METC. State Street Corp boosted its stake in Ramaco Resources by 10.2% in the fourth quarter. State Street Corp now owns 2,489,797 shares of the energy company's stock valued at $44,816,000 after acquiring an additional 230,197 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Ramaco Resources by 0.7% during the 4th quarter. Renaissance Technologies LLC now owns 1,526,164 shares of the energy company's stock worth $27,471,000 after purchasing an additional 9,860 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Ramaco Resources by 38.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,435,059 shares of the energy company's stock worth $22,179,000 after purchasing an additional 398,626 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Ramaco Resources by 74.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,160,898 shares of the energy company's stock worth $20,896,000 after purchasing an additional 496,150 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Ramaco Resources by 20.1% in the fourth quarter. Geode Capital Management LLC now owns 978,950 shares of the energy company's stock valued at $17,625,000 after purchasing an additional 163,971 shares during the last quarter. Hedge funds and other institutional investors own 74.49% of the company's stock.

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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