Zacks Investment Research Lowers Ramaco Resources to Hold
August 12, 2019 - Zacks Investment Research lowered shares of Ramaco Resources (NASDAQ:METC) from a buy rating to a hold rating in a research report released on Wednesday morning, Zacks.com reports.
Ramaco Resources Inc. is an operator and developer of met coal primarily in southern West Virginia, southwestern Virginia and southwestern Pennsylvania. It operates principally in Charleston, West Virginia. Ramaco Resources Inc. is based in Lexington, Kentucky. “
A number of other research analysts have also commented on METC. Jefferies Financial Group lowered Ramaco Resources from a buy rating to a hold rating and decreased their price objective for the company from $8.50 to $5.00 in a report on Tuesday, August 6th. TheStreet raised Ramaco Resources from a d+ rating to a c- rating in a report on Thursday, May 16th. Finally, ValuEngine lowered Ramaco Resources from a sell rating to a strong sell rating in a report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $7.33.
Shares of NASDAQ METC opened at $3.59 on Wednesday. The company has a current ratio of 1.55, a quick ratio of 1.05 and a debt-to-equity ratio of 0.09. The firm has a fifty day moving average price of $5.01. Ramaco Resources has a one year low of $3.50 and a one year high of $8.94. The firm has a market cap of $152.71 million, a price-to-earnings ratio of 5.75 and a beta of 1.09.
Several large investors have recently added to or reduced their stakes in the company. Foundry Partners LLC lifted its position in shares of Ramaco Resources by 41.3% during the 2nd quarter. Foundry Partners LLC now owns 470,466 shares of the energy company’s stock valued at $2,503,000 after acquiring an additional 137,512 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Ramaco Resources by 492.6% during the 4th quarter. Bank of New York Mellon Corp now owns 73,093 shares of the energy company’s stock valued at $362,000 after acquiring an additional 60,758 shares during the period. Geode Capital Management LLC lifted its position in shares of Ramaco Resources by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 68,665 shares of the energy company’s stock valued at $339,000 after acquiring an additional 1,849 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Ramaco Resources by 24.6% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 34,809 shares of the energy company’s stock valued at $186,000 after acquiring an additional 6,870 shares during the period. Finally, Dimensional Fund Advisors LP bought a new stake in shares of Ramaco Resources during the 4th quarter valued at $160,000. Hedge funds and other institutional investors own 76.38% of the company’s stock.
Ramaco Resources, Inc produces and sells metallurgical coal in the United States. The company's development portfolio includes the Elk Creek project consisting of approximately 20,552 acres of controlled mineral and 24 seams located in southern West Virginia; and the Berwind coal property comprising approximately 31,200 acres of controlled mineral and an area of Squire Jim seam coal deposits, which is situated on the border of West Virginia and Virginia.