Ramaco Resources (NASDAQ:METC) Price Target Cut to $18.00

Ramaco Resources (NASDAQ:METC) had its price objective reduced by investment analysts at B. Riley from $19.00 to $18.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the energy company’s stock. B. Riley’s target price indicates a potential upside of 82.19% from the company’s current price.

Separately, Benchmark reissued a “buy” rating and issued a $20.00 target price on shares of Ramaco Resources in a research note on Thursday, August 29th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $16.70.

Ramaco Resources Stock Down 0.4 %

NASDAQ:METC opened at $9.88 on Tuesday. Ramaco Resources has a 1 year low of $8.72 and a 1 year high of $22.70. The company has a current ratio of 1.33, a quick ratio of 0.90 and a debt-to-equity ratio of 0.23. The stock has a market cap of $437.32 million, a price-to-earnings ratio of 8.44 and a beta of 1.05. The stock has a 50-day moving average price of $12.26 and a two-hundred day moving average price of $14.06.

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

Institutional Investors Weigh In On Ramaco Resources

A number of large investors have recently added to or reduced their stakes in the stock. Innealta Capital LLC bought a new stake in Ramaco Resources during the second quarter worth $28,000. Allspring Global Investments Holdings LLC bought a new position in shares of Ramaco Resources in the 1st quarter valued at $93,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Ramaco Resources in the 2nd quarter valued at $94,000. Global Trust Asset Management LLC lifted its stake in shares of Ramaco Resources by 2,071.7% in the 1st 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 last quarter. Finally, Koss Olinger Consulting LLC bought a new position in shares of Ramaco Resources in the 2nd quarter valued at $134,000. Institutional investors and hedge funds own 74.49% of the company’s stock.

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.