The Goldman Sachs Group Has Lowered Expectations for Ramaco Resources (NASDAQ:METC) Stock Price

Key Points

• Goldman Sachs lowered Ramaco Resources’ price target from $13 to $11 while maintaining a “neutral” rating, implying 18.46% upside from the stock’s $9.29 price.
• Analyst sentiment is mixed but leans cautious: MarketBeat reports an overall “Hold” rating and a consensus price target of $26.14, while recent firms have issued both downgrades and reduced targets.
• Ramaco reported a quarterly loss of $0.26 per share, in line with estimates, but revenue of $122.32 million fell short of the $133.11 million consensus forecast; the stock has traded between $8.56 and $57.80 over the past year.

Ramaco Resources (NASDAQ:METC - Get Free Report) had its price target dropped by research analysts at The Goldman Sachs Group from $13.00 to $11.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the energy company's stock. The Goldman Sachs Group's target price suggests a potential upside of 18.46% from the stock's current price.

Several other equities research analysts also recently weighed in on METC. Zacks Research downgraded shares of Ramaco Resources from a "hold" rating to a "strong sell" rating in a research note on Friday, July 17th. Morgan Stanley cut their price objective on shares of Ramaco Resources from $17.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 8th. B. Riley Financial reduced their target price on Ramaco Resources from $24.00 to $22.00 and set a "buy" rating for the company in a research note on Wednesday, May 13th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Ramaco Resources in a research report on Thursday, June 18th. Finally, Robert W. Baird dropped their price target on Ramaco Resources from $30.00 to $25.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Ramaco Resources currently has an average rating of "Hold" and a consensus price target of $26.14.

Ramaco Resources Price Performance

Ramaco Resources stock opened at $9.29 on Thursday. The stock has a market capitalization of $605.26 million, a price-to-earnings ratio of -8.68 and a beta of 1.37. Ramaco Resources has a 52-week low of $8.56 and a 52-week high of $57.80. The company has a debt-to-equity ratio of 1.06, a quick ratio of 3.93 and a current ratio of 4.88. The stock's 50 day moving average price is $12.95 and its two-hundred day moving average price is $14.98.

Ramaco Resources (NASDAQ:METC - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The energy company reported ($0.26) earnings per share for the quarter, meeting the consensus estimate of ($0.26). Ramaco Resources had a negative net margin of 11.98% and a negative return on equity of 12.80%. The company had revenue of $122.32 million during the quarter, compared to analyst estimates of $133.11 million. On average, equities analysts predict that Ramaco Resources will post -0.58 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Allworth Financial LP lifted its position in Ramaco Resources by 3,603.6% in the 3rd quarter. Allworth Financial LP now owns 1,037 shares of the energy company's stock valued at $34,000 after acquiring an additional 1,009 shares in the last quarter. Advisory Services Network LLC bought a new stake in Ramaco Resources during the 3rd quarter worth approximately $38,000. Quarry LP purchased a new stake in shares of Ramaco Resources in the fourth quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd lifted 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 valued at $31,000 after purchasing an additional 1,710 shares in the last quarter. Finally, Sunbelt Securities Inc. boosted its position in shares of Ramaco Resources by 400.0% during the third quarter. Sunbelt Securities Inc. now owns 2,500 shares of the energy company's stock valued at $83,000 after buying an additional 2,000 shares during the last quarter. 74.49% of the stock is currently owned by institutional investors and hedge funds.

About Ramaco Resources

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source