Ramaco Resources (NASDAQ:METC) Now Covered by Northland Securities

Key Points

• Northland Securities has initiated coverage of Ramaco Resources (NASDAQ:METC), assigning an "outperform" rating and a price target of $50.00, indicating an expected upside of 8.90% from its previous close.
• Following the coverage initiation, the stock has recently traded at $45.92, showing significant interest with nearly 851,000 shares exchanged, compared to its average volume.
• Institutional investors hold a majority stake, owning 74.49% of the company's stock, with recent increases in holdings by several firms, indicating growing confidence in Ramaco Resources.

Stock analysts at Northland Securities assumed coverage on shares of Ramaco Resources (NASDAQ:METC - Get Free Report) in a research report issued to clients and investors on Thursday,Briefing.com Automated Import reports. The brokerage set an "outperform" rating and a $50.00 price target on the energy company's stock. Northland Securities' target price points to a potential upside of 8.90% from the stock's previous close.

METC has been the topic of several other research reports. B. Riley increased their price target on Ramaco Resources from $14.00 to $50.00 and gave the stock a "buy" rating in a report on Wednesday. Weiss Ratings reiterated a "hold (c-)" rating on shares of Ramaco Resources in a report on Wednesday. Zacks Research raised Ramaco Resources from a "strong sell" rating to a "hold" rating in a research report on Friday, August 29th. Benchmark restated a "buy" rating and issued a $24.00 target price (up previously from $14.00) on shares of Ramaco Resources in a research note on Tuesday, August 5th. Finally, Jefferies Financial Group boosted their target price on Ramaco Resources from $27.00 to $45.00 and gave the stock a "buy" rating in a research report on Thursday, September 18th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $42.25.

Ramaco Resources Stock Performance

Shares of METC stock traded up $4.43 during trading on Thursday, reaching $45.92. 850,988 shares of the company's stock were exchanged, compared to its average volume of 1,750,767. The company has a quick ratio of 0.84, a current ratio of 1.36 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $2.54 billion, a PE ratio of -101.94 and a beta of 1.37. Ramaco Resources has a twelve month low of $6.30 and a twelve month high of $46.73. The firm's fifty day moving average price is $27.13 and its 200-day moving average price is $16.87.

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

Insider Buying and Selling

In other Ramaco Resources news, Director Peter A. Leidel sold 1,600,000 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $18.75, for a total value of $30,000,000.00. Following the completion of the sale, the director owned 2,502,930 shares in the company, valued at approximately $46,929,937.50. This represents a 39.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 36.20% of the company's stock.

Institutional Trading of Ramaco Resources

Institutional investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. lifted its holdings in Ramaco Resources by 63.9% during the second quarter. Ameritas Investment Partners Inc. now owns 3,632 shares of the energy company's stock worth $48,000 after buying an additional 1,416 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Ramaco Resources by 3.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 41,656 shares of the energy company's stock valued at $427,000 after purchasing an additional 1,425 shares during the last quarter. AlphaQuest LLC boosted its holdings in Ramaco Resources by 30.6% in the first 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. Empowered Funds LLC raised its position in shares of Ramaco Resources by 1.8% in the first quarter. Empowered Funds LLC now owns 123,110 shares of the energy company's stock worth $1,013,000 after acquiring an additional 2,223 shares during the period. Finally, Brooklyn Investment Group acquired a new position in shares of Ramaco Resources in the first quarter worth about $25,000. 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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