Ramaco Resources (NASDAQ:METC) Price Target Cut to $14.00 by Analysts at B. Riley

Ramaco Resources (NASDAQ:METC) had its target price decreased by B. Riley from $18.00 to $14.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the energy company’s stock. B. Riley’s price target points to a potential upside of 68.29% from the stock’s current price.

A number of other equities analysts have also weighed in on METC. Jefferies Financial Group lowered their price objective on shares of Ramaco Resources from $19.00 to $13.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Benchmark reaffirmed a “buy” rating on shares of Ramaco Resources in a report on Wednesday, March 12th.

Ramaco Resources Stock Performance

METC stock traded up $0.61 on Friday, hitting $8.32. The company’s stock had a trading volume of 40,550 shares, compared to its average volume of 583,165. Ramaco Resources has a 1 year low of $6.30 and a 1 year high of $16.92. The company has a current ratio of 1.35, a quick ratio of 0.86 and a debt-to-equity ratio of 0.23. The stock has a market cap of $449.23 million, a price-to-earnings ratio of 12.85 and a beta of 1.14. The firm has a 50 day moving average of $9.04 and a two-hundred day moving average of $10.31.

Ramaco Resources (NASDAQ:METC) last announced its earnings results on Monday, March 10th. The energy company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.36). The business had revenue of $170.90 million for the quarter, compared to analyst estimates of $166.59 million. Ramaco Resources had a return on equity of 10.17% and a net margin of 5.35%. Ramaco Resources’s quarterly revenue was down 15.7% on a year-over-year basis. During the same quarter last year, the company posted $0.24 EPS. Equities analysts predict that Ramaco Resources will post 0.05 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Peter A. Leidel sold 180,936 shares of the business’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $8.82, for a total transaction of $1,595,855.52. Following the completion of the sale, the director now directly owns 708,001 shares of the company’s stock, valued at $6,244,568.82. The trade was a 20.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Yorktown Energy Partners Xi, L sold 98,274 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $8.85, for a total value of $869,724.90. Following the completion of the transaction, the insider now directly owns 1,052,404 shares in the company, valued at $9,313,775.40. This trade represents a 8.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 922,582 shares of company stock worth $7,898,023. 41.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ramaco Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. AlphaQuest LLC acquired a new position in shares of Ramaco Resources during the 4th quarter valued at $50,000. Campbell Capital Management Inc. acquired a new position in shares of Ramaco Resources during the fourth quarter worth about $51,000. Jones Financial Companies Lllp purchased a new stake in shares of Ramaco Resources in the fourth quarter worth about $56,000. BNP Paribas Financial Markets acquired a new stake in shares of Ramaco Resources in the fourth quarter valued at about $80,000. Finally, Royce & Associates LP acquired a new position in Ramaco Resources during the 4th quarter worth approximately $94,000. 74.49% of the stock is currently owned by institutional investors and hedge funds.

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.