Ramaco Resources (NASDAQ:METC) Sets New 12-Month High - Should You Buy?

Key Points

• Ramaco Resources shares reached a new 12-month high of $35.67 before closing at $33.84, with a trading volume of 288,258 shares.
• Analysts have increased their price targets for Ramaco Resources, with Jefferies Financial Group raising theirs to $45.00 from $27.00, reflecting strong market confidence.
• Despite a strong revenue performance of $152.96 million, the company reported negative earnings per share, missing estimates by $0.07.

Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report)'s share price reached a new 52-week high on Thursday . The company traded as high as $35.67 and last traded at $33.84, with a volume of 288258 shares traded. The stock had previously closed at $34.70.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Benchmark reaffirmed a "buy" rating and set a $24.00 price objective (up previously from $14.00) on shares of Ramaco Resources in a research report on Tuesday, August 5th. Jefferies Financial Group increased their target price on Ramaco Resources from $27.00 to $45.00 and gave the company a "buy" rating in a report on Thursday, September 18th. Finally, Zacks Research raised Ramaco Resources from a "strong sell" rating to a "hold" rating in a report on Friday, August 29th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, Ramaco Resources has an average rating of "Moderate Buy" and an average price target of $27.67.

Ramaco Resources Stock Down 3.3%

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 cap of $1.85 billion, a price-to-earnings ratio of -73.81 and a beta of 1.36. The firm's 50 day simple moving average is $25.41 and its 200-day simple moving average is $15.85.

Ramaco Resources (NASDAQ:METC - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The energy company reported ($0.29) earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $131.55 million. During the same quarter in the prior year, the company earned $0.08 EPS. The business's revenue was down 1.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Ramaco Resources, Inc. will post 0.05 earnings per share 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 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 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 36.20% of the company's stock.

Institutional Investors Weigh In On Ramaco Resources

Several hedge funds have recently made changes to their positions in METC. Ameritas Investment Partners Inc. increased its stake in shares of 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 purchasing an additional 1,416 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Ramaco Resources by 3.5% during the 4th 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 purchasing an additional 1,425 shares in the last quarter. AlphaQuest LLC increased its stake in shares of Ramaco Resources by 30.6% during the 1st quarter. AlphaQuest LLC now owns 6,332 shares of the energy company's stock worth $52,000 after purchasing an additional 1,482 shares in the last quarter. Empowered Funds LLC grew its stake in Ramaco Resources by 1.8% in the 1st 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 purchased a new stake in Ramaco Resources in the 1st quarter worth approximately $25,000. Institutional investors and hedge funds own 74.49% of the company's stock.

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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