B. Riley Cuts Ramaco Resources (NASDAQ:METC) Price Target to $18.00

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

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

Ramaco Resources Trading Down 4.5 %

Shares of METC stock opened at $9.93 on Tuesday. The stock’s 50-day moving average price is $12.45 and its 200-day moving average price is $14.14. Ramaco Resources has a 12-month low of $8.72 and a 12-month high of $22.70. The stock has a market capitalization of $434.24 million, a price-to-earnings ratio of 8.49 and a beta of 1.05. The company has a current ratio of 1.33, a quick ratio of 0.90 and a debt-to-equity ratio of 0.23.

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

Institutional Investors Weigh In On Ramaco Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in METC. Innealta Capital LLC purchased a new stake in shares of Ramaco Resources during the second quarter worth about $28,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Ramaco Resources during the first quarter worth $93,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Ramaco Resources during the 2nd quarter worth about $94,000. Global Trust Asset Management LLC boosted its position in Ramaco Resources by 2,071.7% in the first quarter. Global Trust Asset Management LLC now owns 7,058 shares of the energy company’s stock valued at $119,000 after buying an additional 6,733 shares during the last quarter. Finally, Koss Olinger Consulting LLC acquired a new position in Ramaco Resources in the 2nd quarter worth approximately $134,000. 74.49% of the stock is currently 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.