Shares of Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $14.07, but opened at $14.73. Ramaco Resources shares last traded at $14.9010, with a volume of 350,209 shares trading hands.
Analysts Set New Price Targets
Several brokerages recently commented on METC. Morgan Stanley decreased their price target on Ramaco Resources from $17.50 to $17.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 9th. Jefferies Financial Group raised Ramaco Resources from a "hold" rating to a "buy" rating and decreased their price target for the company from $33.00 to $30.00 in a research note on Tuesday, January 20th. Zacks Research raised Ramaco Resources from a "strong sell" rating to a "hold" rating in a research note on Friday, April 10th. The Goldman Sachs Group set a $15.00 price objective on Ramaco Resources and gave the stock a "neutral" rating in a research note on Tuesday. Finally, Robert W. Baird reduced their price objective on Ramaco Resources from $40.00 to $30.00 and set an "outperform" rating on the stock in a research note on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $32.00.
View Our Latest Report on METC
Ramaco Resources Trading Up 8.1%
The company has a market cap of $1.02 billion, a P/E ratio of -15.48 and a beta of 1.43. The company has a quick ratio of 4.66, a current ratio of 5.46 and a debt-to-equity ratio of 0.95. The business has a 50-day moving average price of $15.08 and a two-hundred day moving average price of $21.01.
Ramaco Resources (NASDAQ:METC - Get Free Report) last released its quarterly earnings data on Wednesday, February 25th. The energy company reported ($0.22) EPS for the quarter, beating analysts' consensus estimates of ($0.24) by $0.02. The business had revenue of $108.72 million during the quarter, compared to the consensus estimate of $143.48 million. Ramaco Resources had a negative return on equity of 12.01% and a negative net margin of 9.59%.The firm's revenue was down 25.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.02 earnings per share. On average, analysts predict that Ramaco Resources, Inc. will post -0.04 EPS for the current year.
Ramaco Resources announced that its board has approved a share repurchase plan on Tuesday, December 23rd that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the energy company to buy up to 9.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its stock is undervalued.
Institutional Investors Weigh In On Ramaco Resources
A number of institutional investors and hedge funds have recently added to or reduced their stakes in METC. Quarry LP bought a new stake in shares of Ramaco Resources in the fourth quarter worth about $27,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of Ramaco Resources by 14,250.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,722 shares of the energy company's stock worth $31,000 after acquiring an additional 1,710 shares in the last quarter. Archer Investment Corp bought a new stake in shares of Ramaco Resources in the third quarter worth about $33,000. Allworth Financial LP increased its holdings in shares of Ramaco Resources by 3,603.6% in the third quarter. Allworth Financial LP now owns 1,037 shares of the energy company's stock worth $34,000 after acquiring an additional 1,009 shares in the last quarter. Finally, MCF Advisors LLC bought a new stake in shares of Ramaco Resources in the third quarter worth about $35,000. Institutional investors own 74.49% of the company's stock.
Ramaco Resources Company Profile
(
Get Free Report)
Ramaco Resources, Inc NASDAQ: METC is a U.S.-based producer of premium metallurgical coal and industrial minerals, focused on supplying the steel and allied industries. The company’s operations are centered in the Appalachian region of West Virginia, where it develops, mines and processes high-carbon coal products designed to meet the quality requirements of blast‐furnace and electric‐arc furnace steelmakers.
The firm’s flagship asset is the Elk Creek underground mine in Wyoming County, West Virginia, which began commercial production in 2019 and delivers a range of high‐grade metallurgical and anthracite coals.
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