Ramaco Resources (NASDAQ:METC) PT Lowered to $18.00 at B. Riley

Ramaco Resources (NASDAQ:METC) had its price target cut by B. Riley from $19.00 to $18.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the energy company’s stock. B. Riley’s price objective would suggest a potential upside of 81.27% from the stock’s current price.

Separately, Benchmark reaffirmed a “buy” rating and issued 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $16.70.

Ramaco Resources Stock Performance

Shares of NASDAQ METC opened at $9.93 on Tuesday. The firm’s 50-day moving average price is $12.45 and its 200-day moving average price is $14.14. Ramaco Resources has a 52-week low of $8.72 and a 52-week high of $22.70. The company has a market cap of $434.24 million, a PE ratio of 8.49 and a beta of 1.05. The company has a quick ratio of 0.90, a current ratio of 1.33 and a debt-to-equity ratio of 0.23.

Ramaco Resources (NASDAQ:METC) last issued its earnings results on Wednesday, August 7th. The energy company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.23. The company had revenue of $155.32 million for the quarter, compared to analysts’ expectations of $141.66 million. Ramaco Resources had a net margin of 7.95% and a return on equity of 16.30%. As a group, analysts anticipate that Ramaco Resources will post 1.44 EPS for the current year.

Institutional Investors Weigh In On Ramaco Resources

Several hedge funds and other institutional investors have recently added to or reduced their stakes in METC. Innealta Capital LLC bought a new position in shares of Ramaco Resources in the second quarter worth approximately $28,000. Allspring Global Investments Holdings LLC purchased a new stake in Ramaco Resources in the 1st quarter worth $93,000. Global Trust Asset Management LLC raised its holdings in Ramaco Resources by 2,071.7% during the first quarter. Global Trust Asset Management LLC now owns 7,058 shares of the energy company’s stock valued at $119,000 after acquiring an additional 6,733 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Ramaco Resources in the second quarter valued at about $94,000. Finally, Oxford Asset Management LLP purchased a new stake in shares of Ramaco Resources during the fourth quarter worth about $176,000. 74.49% of the stock is owned by hedge funds and other institutional investors.

Ramaco Resources Company Profile

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.