Ramaco Resources, Inc. (NASDAQ:METC) Stock Has Consensus Target Price of $22.43 According to Brokerages

by · The Markets Daily

Shares of Ramaco Resources, Inc. (NASDAQ:METC – Get Free Report) have been assigned an average rating of “Hold” from the eight ratings firms that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $22.43.

Several equities research analysts recently issued reports on the stock. Zacks Research downgraded shares of Ramaco Resources from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. The Goldman Sachs Group lowered their target price on shares of Ramaco Resources from $13.00 to $11.00 and set a “neutral” rating for the company in a research note on Thursday, August 6th. Robert W. Baird reissued a “neutral” rating and set a $13.00 target price on shares of Ramaco Resources in a report on Tuesday, August 18th. Wall Street Zen cut shares of Ramaco Resources from a “sell” rating to a “strong sell” rating in a report on Sunday, October 4th. Finally, Weiss Ratings downgraded shares of Ramaco Resources from a “sell (d)” rating to a “sell (d-)” rating in a research report on Thursday, August 6th.

Get Our Latest Research Report on METC

Ramaco Resources Stock Down 0.1%

METC opened at $8.34 on Tuesday. The company has a current ratio of 4.23, a quick ratio of 3.31 and a debt-to-equity ratio of 1.23. Ramaco Resources has a 52-week low of $7.77 and a 52-week high of $54.35. The company has a 50 day moving average of $10.62 and a two-hundred day moving average of $12.57.

Ramaco Resources (NASDAQ:METC – Get Free Report) last issued its earnings results on Tuesday, August 4th. The energy company reported ($0.26) EPS for the quarter, meeting analysts’ consensus estimates of ($0.26). Ramaco Resources had a negative net margin of 11.98% and a negative return on equity of 13.54%. The business had revenue of $122.32 million for the quarter, compared to the consensus estimate of $133.11 million. On average, sell-side analysts predict that Ramaco Resources will post -0.97 EPS for the current fiscal year.

Insider Buying and Selling at Ramaco Resources

In related news, major shareholder Discovery Capital Management, sold 500,000 shares of the business’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $9.57, for a total transaction of $4,785,000.00. Following the completion of the sale, the insider owned 4,811,360 shares of the company’s stock, valued at $46,044,715.20. This represents a 9.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 46.07% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ramaco Resources

A number of large investors have recently bought and sold shares of METC. State Street Corp grew its stake in Ramaco Resources by 6.7% during the 2nd quarter. State Street Corp now owns 3,059,847 shares of the energy company’s stock worth $40,482,000 after buying an additional 192,663 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Ramaco Resources by 38.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,435,059 shares of the energy company’s stock valued at $22,179,000 after acquiring an additional 398,626 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of Ramaco Resources in the 3rd quarter worth $3,986,000. Gratia Capital LLC acquired a new stake in Ramaco Resources in the 2nd quarter valued at about $1,826,000. Finally, Quantbot Technologies LP lifted its stake in Ramaco Resources by 54.1% during the second quarter. Quantbot Technologies LP now owns 127,404 shares of the energy company’s stock valued at $1,686,000 after purchasing an additional 44,710 shares during the last quarter. Institutional investors own 74.49% of the company’s stock.

Ramaco Resources Company Profile

(Get Free Report)

Ramaco Resources, Inc is a producer of metallurgical coal, which is used primarily in the manufacture of steel and metallurgical coke. The company develops and operates coal mining properties and sells its products to domestic and international steel, coke and industrial customers.

Ramaco’s operations and development properties are located in major U.S. coal-producing regions, including southern West Virginia, southwestern Virginia and Wyoming. Its portfolio has included the Elk Creek and Berwind mining complexes in West Virginia, the RAM No.

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