Ramaco Resources (NASDAQ:METC) Rating Increased to Strong-Buy at Northland Capmk

Key Points

• Ramaco Resources has been upgraded to a "strong-buy" rating by Northland Capital Markets, indicating confidence in the company's future performance.
• Several other analysts have also rated the stock positively, with target prices ranging from $24.00 to $50.00, contributing to an average price target of $42.25.
• Despite a reported loss in earnings per share and a slight revenue decline compared to the previous year, the company's stock has seen significant price movement, with a 1-year high of $47.64.

Ramaco Resources (NASDAQ:METC - Get Free Report) was upgraded by research analysts at Northland Capmk to a "strong-buy" rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

A number of other equities analysts also recently issued reports on METC. Weiss Ratings restated a "hold (c-)" rating on shares of Ramaco Resources in a research report on Wednesday. Benchmark restated a "buy" rating and set a $24.00 price objective (up from $14.00) on shares of Ramaco Resources in a research report on Tuesday, August 5th. Jefferies Financial Group raised their target price on Ramaco Resources from $27.00 to $45.00 and gave the stock a "buy" rating in a research note on Thursday, September 18th. B. Riley raised their target price on Ramaco Resources from $14.00 to $50.00 and gave the stock a "buy" rating in a research note on Wednesday. Finally, Northland Securities initiated coverage on Ramaco Resources in a research note on Thursday. They set an "outperform" rating and a $50.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $42.25.

Ramaco Resources Price Performance

Shares of METC opened at $46.33 on Wednesday. Ramaco Resources has a 1 year low of $6.30 and a 1 year high of $47.64. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.36 and a quick ratio of 0.84. The company has a market capitalization of $2.56 billion, a price-to-earnings ratio of -102.96 and a beta of 1.37. The business has a 50-day moving average of $27.65 and a 200-day moving average of $17.13.

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

Insider Buying and Selling

In other Ramaco Resources news, Director Peter A. Leidel sold 1,600,000 shares of the firm'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 completion of the sale, the director owned 2,502,930 shares of the company's stock, valued at approximately $46,929,937.50. This trade represents a 39.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 36.20% of the company's stock.

Institutional Investors Weigh In On Ramaco Resources

A number of hedge funds have recently added to or reduced their stakes in METC. Brooklyn Investment Group acquired a new stake in Ramaco Resources in the first quarter valued at approximately $25,000. Ameritas Investment Partners Inc. boosted its position in shares of Ramaco Resources by 63.9% during the second quarter. Ameritas Investment Partners Inc. now owns 3,632 shares of the energy company's stock valued at $48,000 after buying an additional 1,416 shares during the last quarter. State of Wyoming purchased a new position in shares of Ramaco Resources during the first quarter valued at approximately $50,000. AlphaQuest LLC boosted its position in shares of Ramaco Resources by 30.6% during the first 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. Finally, Farther Finance Advisors LLC boosted its position in shares of Ramaco Resources by 384.0% during the second quarter. Farther Finance Advisors LLC now owns 3,920 shares of the energy company's stock valued at $52,000 after buying an additional 3,110 shares during the last quarter. Institutional investors and hedge funds 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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