Ramaco Resources (NASDAQ:METC) Rating Increased to Strong-Buy at Baird R W

Key Points

• Ramaco Resources has received a "strong-buy" rating upgrade from Baird R W, reflecting increased analyst confidence in the company.
• Benchmark raised its price target for Ramaco Resources from $14.00 to $24.00, while Northland Securities set a price target of $50.00.
• Recent insider activity includes the sale of 1.6 million shares by Director Peter A. Leidel, indicating a significant change in ownership stakes within the company.

Ramaco Resources (NASDAQ:METC - Get Free Report) was upgraded by equities research analysts at Baird R W to a "strong-buy" rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other research firms have also recently commented on METC. Benchmark reaffirmed a "buy" rating and issued a $24.00 price target (up previously from $14.00) on shares of Ramaco Resources in a report on Tuesday, August 5th. Robert W. Baird assumed coverage on Ramaco Resources in a report on Wednesday. They issued an "outperform" rating and a $63.00 price target for the company. Northland Securities assumed coverage on Ramaco Resources in a report on Thursday, October 9th. They issued an "outperform" rating and a $50.00 price target for the company. Weiss Ratings reiterated a "hold (c-)" rating on shares of Ramaco Resources in a research note on Wednesday, October 8th. Finally, Northland Capmk upgraded Ramaco Resources to a "strong-buy" rating in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Ramaco Resources currently has an average rating of "Moderate Buy" and a consensus target price of $46.40.

Ramaco Resources Trading Up 3.4%

Ramaco Resources stock opened at $49.48 on Thursday. The business has a 50 day moving average price of $30.56 and a two-hundred day moving average price of $18.57. 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 cap of $2.73 billion, a price-to-earnings ratio of -109.96 and a beta of 1.37. Ramaco Resources has a 12 month low of $6.30 and a 12 month high of $57.80.

Ramaco Resources (NASDAQ:METC - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The energy company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.07). The firm had revenue of $152.96 million during the quarter, compared to analyst estimates of $131.55 million. Ramaco Resources had a negative net margin of 3.17% and a negative return on equity of 5.55%. The company's revenue was down 1.5% on a year-over-year basis. During the same period last year, the company earned $0.08 EPS. As a group, equities analysts forecast that Ramaco Resources will post 0.05 EPS for the current year.

Insider Buying and Selling at Ramaco Resources

In other news, Director Peter A. Leidel sold 1,600,000 shares of the company's stock in a transaction that occurred 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 sale, the director directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 36.20% of the company's stock.

Institutional Investors Weigh In On Ramaco Resources

A number of large investors have recently bought and sold shares of the business. Ameritas Investment Partners Inc. grew its position in Ramaco Resources by 63.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,632 shares of the energy company's stock worth $48,000 after acquiring an additional 1,416 shares during the last quarter. AlphaQuest LLC boosted its position in Ramaco Resources by 30.6% in the 1st quarter. AlphaQuest LLC now owns 6,332 shares of the energy company's stock valued at $52,000 after buying an additional 1,482 shares during the last quarter. DAVENPORT & Co LLC increased its stake in shares of Ramaco Resources by 8.6% in the 3rd quarter. DAVENPORT & Co LLC now owns 23,973 shares of the energy company's stock valued at $796,000 after buying an additional 1,900 shares during the period. Empowered Funds LLC increased its stake in shares of Ramaco Resources by 1.8% in the 1st quarter. Empowered Funds LLC now owns 123,110 shares of the energy company's stock valued at $1,013,000 after buying an additional 2,223 shares during the period. Finally, Brooklyn Investment Group bought a new stake in shares of Ramaco Resources during the first quarter worth $25,000. 74.49% of the stock is currently owned by institutional investors.

About Ramaco Resources

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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