Ramaco Resources (NASDAQ:METC) PT Lowered to $19.00

Ramaco Resources (NASDAQ:METC) had its target price lowered by analysts at B. Riley from $21.00 to $19.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the energy company’s stock. B. Riley’s price objective would suggest a potential upside of 102.13% from the company’s previous close.

Separately, Benchmark reaffirmed a “buy” rating and set a $20.00 price objective on shares of Ramaco Resources in a report on Thursday, August 29th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Ramaco Resources currently has an average rating of “Moderate Buy” and a consensus target price of $16.90.

Ramaco Resources Stock Performance

Shares of METC opened at $9.40 on Friday. The stock has a 50-day simple moving average of $13.00 and a 200-day simple moving average of $14.53. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.90 and a current ratio of 1.33. Ramaco Resources has a 1 year low of $7.76 and a 1 year high of $22.70. The stock has a market capitalization of $416.07 million, a PE ratio of 8.03 and a beta of 1.09.

Ramaco Resources (NASDAQ:METC) last posted its earnings results on Wednesday, August 7th. The energy company reported $0.08 EPS for the quarter, beating the consensus estimate of ($0.15) by $0.23. The firm had revenue of $155.32 million for the quarter, compared to analyst estimates of $141.66 million. Ramaco Resources had a return on equity of 16.30% and a net margin of 7.95%. On average, analysts predict that Ramaco Resources will post 1.44 earnings per share for the current fiscal year.

Institutional Trading of Ramaco Resources

Large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its position in Ramaco Resources by 21.7% during the second quarter. Dimensional Fund Advisors LP now owns 1,380,601 shares of the energy company’s stock worth $17,186,000 after purchasing an additional 245,924 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Ramaco Resources by 8.9% during the 1st quarter. Vanguard Group Inc. now owns 1,591,146 shares of the energy company’s stock valued at $26,795,000 after buying an additional 130,593 shares during the period. Russell Investments Group Ltd. acquired a new stake in shares of Ramaco Resources during the 4th quarter worth $2,023,000. Marshall Wace LLP raised its position in shares of Ramaco Resources by 287.2% in the 2nd quarter. Marshall Wace LLP now owns 125,565 shares of the energy company’s stock worth $1,563,000 after buying an additional 93,139 shares during the period. Finally, Arkfeld Wealth Strategies L.L.C. raised its position in shares of Ramaco Resources by 226.1% in the 1st quarter. Arkfeld Wealth Strategies L.L.C. now owns 133,502 shares of the energy company’s stock worth $2,111,000 after buying an additional 92,567 shares during the period. 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.