B. Riley Lowers Ramaco Resources (NASDAQ:METC) Price Target to $24.00

Ramaco Resources (NASDAQ:METC) had its price objective lowered by analysts at B. Riley from $25.00 to $24.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the energy company’s stock. B. Riley’s price target would indicate a potential upside of 48.38% from the stock’s current price.

Separately, UBS Group initiated coverage on Ramaco Resources in a report on Tuesday, January 16th. They issued a “neutral” rating and a $21.00 price target on the stock. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $17.90.

Ramaco Resources Trading Up 3.4 %

Shares of METC opened at $16.18 on Monday. Ramaco Resources has a fifty-two week low of $7.26 and a fifty-two week high of $22.70. The business has a 50-day moving average of $17.26 and a 200 day moving average of $16.35. The firm has a market cap of $715.91 million, a P/E ratio of 9.30 and a beta of 1.15. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.90 and a current ratio of 1.12.

Ramaco Resources (NASDAQ:METC) last posted its quarterly earnings results on Thursday, March 7th. The energy company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.07). Ramaco Resources had a return on equity of 24.28% and a net margin of 11.87%. The company had revenue of $202.73 million during the quarter, compared to the consensus estimate of $182.60 million. As a group, research analysts forecast that Ramaco Resources will post 2.37 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Arkfeld Wealth Strategies L.L.C. lifted its stake in Ramaco Resources by 226.1% in the first quarter. Arkfeld Wealth Strategies L.L.C. now owns 133,502 shares of the energy company’s stock worth $2,111,000 after purchasing an additional 92,567 shares during the last quarter. Global Trust Asset Management LLC increased its holdings in shares of 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 worth $119,000 after buying an additional 6,733 shares during the period. Quadrature Capital Ltd bought a new stake in shares of Ramaco Resources in the 4th quarter valued at about $632,000. Vanguard Group Inc. boosted its holdings in Ramaco Resources by 6.2% during the 4th quarter. Vanguard Group Inc. now owns 1,460,553 shares of the energy company’s stock valued at $25,092,000 after acquiring an additional 85,183 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in Ramaco Resources by 46.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 91,066 shares of the energy company’s stock worth $1,565,000 after acquiring an additional 29,015 shares during the last quarter. 74.49% of the stock is owned by hedge funds and other institutional investors.

About Ramaco Resources

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.