Ramaco Resources (NASDAQ:METC) Upgraded at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen upgraded shares of Ramaco Resources (NASDAQ:METC – Free Report) from a strong sell rating to a sell rating in a research report sent to investors on Saturday,Wall Street Zen reports.

Other equities research analysts have also issued research reports about the company. Morgan Stanley reduced their price target on Ramaco Resources from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 18th. Robert W. Baird restated a “neutral” rating and set a $13.00 target price on shares of Ramaco Resources in a research note on Tuesday, August 18th. Weiss Ratings cut shares of Ramaco Resources from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, August 6th. Benchmark lowered their price target on shares of Ramaco Resources from $38.00 to $26.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Finally, The Goldman Sachs Group dropped their price objective on shares of Ramaco Resources from $13.00 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $22.43.

Read Our Latest Research Report on Ramaco Resources

Ramaco Resources Trading Down 0.4%

NASDAQ METC opened at $8.98 on Friday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.31 and a current ratio of 4.23. The firm has a market cap of $569.24 million, a price-to-earnings ratio of -8.39 and a beta of 1.39. The firm has a 50 day simple moving average of $11.08 and a 200-day simple moving average of $13.12. Ramaco Resources has a one year low of $8.56 and a one year high of $57.80.

Ramaco Resources (NASDAQ:METC – Get Free Report) last released its earnings results on Tuesday, August 4th. The energy company reported ($0.26) earnings per share (EPS) for the quarter, hitting 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 company had revenue of $122.32 million for the quarter, compared to analyst estimates of $133.11 million. Equities research analysts anticipate that Ramaco Resources will post -1.02 EPS for the current fiscal year.

Insider Buying and Selling at Ramaco Resources

In other news, major shareholder Discovery Capital Management, sold 500,000 shares of the company’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $9.57, for a total value of $4,785,000.00. Following the completion of the transaction, the insider owned 4,811,360 shares in the company, valued at approximately $46,044,715.20. This represents a 9.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 46.07% of the company’s stock.

Institutional Investors Weigh In On Ramaco Resources

Several hedge funds and other institutional investors have recently bought and sold shares of METC. Texas Yale Capital Corp. increased its position in shares of Ramaco Resources by 331.9% during the fourth quarter. Texas Yale Capital Corp. now owns 142,488 shares of the energy company’s stock worth $2,565,000 after purchasing an additional 109,500 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Ramaco Resources by 38.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,435,059 shares of the energy company’s stock valued at $22,179,000 after purchasing an additional 398,626 shares during the last quarter. Gratia Capital LLC acquired a new stake in shares of Ramaco Resources in the 2nd quarter valued at about $1,826,000. State Street Corp boosted its position in shares of Ramaco Resources by 6.7% in the 2nd quarter. State Street Corp now owns 3,059,847 shares of the energy company’s stock valued at $40,482,000 after purchasing an additional 192,663 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in Ramaco Resources during the 2nd quarter worth approximately $1,486,000. 74.49% of the stock is currently owned by institutional investors and hedge funds.

About Ramaco Resources

(Get Free Report)

Ramaco Resources, Inc is a metallurgical coal producer headquartered in Lexington, Kentucky. The company develops, operates and sells metallurgical coal used primarily in the production of steel. Its products include various grades of high-quality metallurgical coal, including high-volatility and low-volatility products, as well as coal suitable for pulverized coal injection applications.

Ramaco operates mining complexes in Central Appalachia, including properties in West Virginia and Virginia.

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