October 8, 2018 - Zacks Investment Research upgraded shares of Ramaco Resources (NASDAQ:METC) from a hold rating to a strong-buy rating in a report released on Wednesday, September 19th. The brokerage currently has $9.00 price target on the energy company’s stock.
According to Zacks, “Ramaco Resources, Inc. is an operator and developer of high-quality, low cost metallurgical coal in central and southern West Virginia, southwestern Virginia and southwestern Pennsylvania. Ramaco Resources, Inc. is headquartered in Lexington, Kentucky. “
Several other equities research analysts also recently issued reports on METC. TheStreet raised Ramaco Resources from a d+ rating to a c- rating in a report on Friday, August 31st. ValuEngine downgraded Ramaco Resources from a buy rating to a hold rating in a report on Wednesday, June 27th. Finally, B. Riley raised their price target on Ramaco Resources from $10.00 to $10.50 and gave the company a buy rating in a report on Friday, September 14th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Ramaco Resources currently has an average rating of Buy and a consensus target price of $9.63.
Ramaco Resources stock traded up $0.30 during mid-day trading on Wednesday, hitting $8.25. 133,700 shares of the company’s stock traded hands, compared to its average volume of 98,582. Ramaco Resources has a fifty-two week low of $3.81 and a fifty-two week high of $9.35. The company has a market capitalization of $299.02 million, a price-to-earnings ratio of -19.66 and a beta of 1.63.
Ramaco Resources (NASDAQ:METC) last announced its quarterly earnings results on Monday, August 6th. The energy company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.09. Ramaco Resources had a return on equity of 5.55% and a net margin of 4.15%. The business had revenue of $65.28 million during the quarter, compared to the consensus estimate of $62.37 million. sell-side analysts expect that Ramaco Resources will post 1.05 EPS for the current year.
Several institutional investors and hedge funds have recently bought and sold shares of METC. GeoSphere Capital Management LLC acquired a new stake in shares of Ramaco Resources during the second quarter worth $109,000. Northern Trust Corp lifted its holdings in shares of Ramaco Resources by 26.7% during the second quarter. Northern Trust Corp now owns 79,943 shares of the energy company’s stock worth $557,000 after buying an additional 16,822 shares in the last quarter. Unigestion Holding SA acquired a new stake in shares of Ramaco Resources during the second quarter worth $870,000. Finally, BlackRock Inc. lifted its holdings in shares of Ramaco Resources by 4.7% during the first quarter. BlackRock Inc. now owns 313,669 shares of the energy company’s stock worth $2,256,000 after buying an additional 14,045 shares in the last quarter. 84.41% of the stock is owned by institutional investors.