Ramaco Resources (NASDAQ:METC) Price Target Raised to $45.00 at Jefferies Financial Group

Key Points

• Jefferies Financial Group raised its target price for Ramaco Resources from $27.00 to $45.00, indicating a potential upside of 46.06% from the stock's previous close.
• Despite the upgrade, Ramaco's recent quarterly earnings report showed a loss of ($0.29) per share, which was below consensus estimates, and a year-over-year revenue decline of 1.5%.
• The company has a market capitalization of $1.70 billion and shows a strong presence of institutional ownership, with approximately 74.49% of its stock held by institutional investors.

Ramaco Resources (NASDAQ:METC - Free Report) had its target price hoisted by Jefferies Financial Group from $27.00 to $45.00 in a report released on Thursday morning, Marketbeat Ratings reports. The brokerage currently has a buy rating on the energy company's stock.

Several other research analysts also recently commented on the stock. Zacks Research raised shares of Ramaco Resources from a "strong sell" rating to a "hold" rating in a research note on Friday, August 29th. Wall Street Zen downgraded shares of Ramaco Resources from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Finally, Benchmark reissued a "buy" rating and issued a $24.00 price target (up previously from $14.00) on shares of Ramaco Resources in a research note on Tuesday, August 5th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Ramaco Resources has an average rating of "Moderate Buy" and an average target price of $27.67.

Ramaco Resources Stock Down 1.6%

Shares of METC traded down $0.50 during midday trading on Thursday, hitting $30.42. The stock had a trading volume of 5,825,831 shares, compared to its average volume of 2,601,202. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of -67.60 and a beta of 1.26. The company has a 50 day simple moving average of $23.65 and a two-hundred day simple moving average of $14.57. 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 twelve month low of $6.30 and a twelve month high of $32.18.

Ramaco Resources (NASDAQ:METC - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The energy company reported ($0.29) earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $131.55 million. During the same quarter in the prior year, the company posted $0.08 EPS. Ramaco Resources's revenue for the quarter was down 1.5% on a year-over-year basis. On average, analysts anticipate that Ramaco Resources will post 0.05 EPS for the current year.

Insider Buying and Selling at Ramaco Resources

In related news, Director Peter A. Leidel sold 1,600,000 shares of Ramaco Resources stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $18.75, for a total transaction of $30,000,000.00. Following the completion of the transaction, the director directly owned 2,502,930 shares of the company's stock, valued at approximately $46,929,937.50. The trade was a 39.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 36.20% of the company's stock.

Institutional Investors Weigh In On Ramaco Resources

Institutional investors have recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd acquired a new stake in Ramaco Resources during the first quarter worth $555,000. XTX Topco Ltd bought a new stake in Ramaco Resources in the first quarter worth approximately $111,000. Cetera Investment Advisers boosted its position in shares of Ramaco Resources by 27.3% during the fourth quarter. Cetera Investment Advisers now owns 12,872 shares of the energy company's stock valued at $132,000 after buying an additional 2,760 shares during the last quarter. Exchange Traded Concepts LLC raised its stake in shares of Ramaco Resources by 59.4% in the first quarter. Exchange Traded Concepts LLC now owns 69,763 shares of the energy company's stock valued at $574,000 after buying an additional 25,992 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Ramaco Resources by 3.5% during 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 worth $427,000 after buying an additional 1,425 shares in the last quarter. 74.49% of the stock is currently owned by hedge funds and other institutional investors.

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.