Ramaco Resources (NASDAQ:METC) Reaches New 1-Year High - Should You Buy?

Key Points

• Ramaco Resources' stock price reached a new one-year high at $32.92, following trading activity that saw a volume of 294,819 shares.
• Analysts have set new price targets for the stock, with Jefferies Financial Group raising their target from $27.00 to $45.00, and a consensus price target averaging around $27.67.
• The company's recent quarterly earnings report showed a revenue of $152.96 million but missed the expected earnings per share, reporting ($0.29), missing the consensus estimate of ($0.22).

Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report)'s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $32.57 and last traded at $32.92, with a volume of 294819 shares. The stock had previously closed at $31.83.

Analysts Set New Price Targets

METC has been the topic of a number of recent research reports. Jefferies Financial Group lifted their price target on shares of Ramaco Resources from $27.00 to $45.00 and gave the stock a "buy" rating in a report on Thursday, September 18th. Benchmark reissued a "buy" rating and set a $24.00 target price (up previously from $14.00) on shares of Ramaco Resources in a research note on Tuesday, August 5th. Finally, Zacks Research raised shares of Ramaco Resources from a "strong sell" rating to a "hold" rating in a research note on Friday, August 29th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $27.67.

Ramaco Resources Stock Up 2.6%

The company has a market cap of $1.80 billion, a PE ratio of -72.67 and a beta of 1.26. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.84 and a current ratio of 1.36. The stock's 50 day moving average price is $24.07 and its 200-day moving average price is $14.92.

Ramaco Resources (NASDAQ:METC - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $152.96 million for the quarter, compared to analysts' expectations of $131.55 million. During the same period in the previous year, the company earned $0.08 EPS. The company's quarterly revenue was down 1.5% on a year-over-year basis. On average, analysts predict that Ramaco Resources, Inc. will post 0.05 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Peter A. Leidel sold 1,600,000 shares of Ramaco Resources stock in a transaction that occurred on Friday, August 8th. The shares were 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 directly owned 2,502,930 shares in the company, valued at $46,929,937.50. The trade was a 39.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 36.20% of the company's stock.

Hedge Funds Weigh In On Ramaco Resources

Large investors have recently added to or reduced their stakes in the company. Brooklyn Investment Group purchased a new position in Ramaco Resources during the first quarter valued at approximately $25,000. Ameritas Investment Partners Inc. lifted its holdings in shares of Ramaco Resources by 63.9% in 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 in the last quarter. State of Wyoming purchased a new position in shares of Ramaco Resources in the first quarter worth $50,000. AlphaQuest LLC lifted its holdings in shares of Ramaco Resources by 30.6% in the first quarter. AlphaQuest LLC now owns 6,332 shares of the energy company's stock worth $52,000 after buying an additional 1,482 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Ramaco Resources by 384.0% in the second quarter. Farther Finance Advisors LLC now owns 3,920 shares of the energy company's stock worth $52,000 after buying an additional 3,110 shares in the last quarter. Hedge funds and other 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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