ValuEngine downgraded shares of Ramaco Resources (NASDAQ:METC) from a hold rating to a sell rating in a report published on Friday morning.
METC has been the subject of several other reports. Zacks Investment Research downgraded Ramaco Resources from a buy rating to a hold rating in a report on Saturday, January 20th. BMO Capital Markets reduced their price objective on Ramaco Resources from $11.00 to $7.00 and set an outperform rating for the company in a report on Friday, November 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $12.92.
Ramaco Resources (NASDAQ METC) opened at $7.17 on Friday. Ramaco Resources has a twelve month low of $3.81 and a twelve month high of $14.78.
Ramaco Resources (NASDAQ:METC) last issued its quarterly earnings results on Wednesday, November 8th. The energy company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.21). Ramaco Resources had a negative net margin of 35.22% and a negative return on equity of 16.08%. The company had revenue of $14.41 million for the quarter. research analysts forecast that Ramaco Resources will post 0.01 EPS for the current year.
In other news, COO Mark Allen Clemens purchased 15,000 shares of the business’s stock in a transaction on Thursday, November 16th. The stock was acquired at an average cost of $4.26 per share, for a total transaction of $63,900.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Michael Dale Bauersachs purchased 25,000 shares of the business’s stock in a transaction on Wednesday, November 15th. The shares were purchased at an average price of $3.96 per share, with a total value of $99,000.00. The disclosure for this purchase can be found here. Insiders purchased a total of 45,868 shares of company stock valued at $187,956 over the last quarter.
Several institutional investors have recently added to or reduced their stakes in the business. Alyeska Investment Group L.P. grew its stake in shares of Ramaco Resources by 15.8% during the 3rd quarter. Alyeska Investment Group L.P. now owns 550,000 shares of the energy company’s stock valued at $3,647,000 after purchasing an additional 75,000 shares during the period. Foundry Partners LLC grew its stake in shares of Ramaco Resources by 7.5% during the 3rd quarter. Foundry Partners LLC now owns 375,925 shares of the energy company’s stock valued at $2,492,000 after purchasing an additional 26,200 shares during the period. Vanguard Group Inc. grew its stake in shares of Ramaco Resources by 91.3% during the 2nd quarter. Vanguard Group Inc. now owns 207,800 shares of the energy company’s stock valued at $1,258,000 after purchasing an additional 99,188 shares during the period. State Street Corp grew its stake in shares of Ramaco Resources by 89.0% during the 2nd quarter. State Street Corp now owns 61,626 shares of the energy company’s stock valued at $373,000 after purchasing an additional 29,026 shares during the period. Finally, Northern Trust Corp grew its stake in shares of Ramaco Resources by 55.7% during the 2nd quarter. Northern Trust Corp now owns 32,804 shares of the energy company’s stock valued at $198,000 after purchasing an additional 11,731 shares during the period. Institutional investors and hedge funds own 89.29% of the company’s stock.
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Ramaco Resources Company Profile
Ramaco Resources, Inc is a development-stage company. The Company is a developer of metallurgical coal in central and southern West Virginia, southwestern Virginia and southwestern Pennsylvania. The Company’s project portfolio includes Elk Creek, Berwind, RAM Mine and Knox Creek. As of December 29, 2016, the Elk Creek property in southern West Virginia consisted of approximately 17,128 acres of controlled mineral.
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