Ramaco Resources (NASDAQ:METC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.
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 research firms have also recently weighed in on METC. Credit Suisse Group raised their price target on Ramaco Resources from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Tuesday, March 27th. ValuEngine cut Ramaco Resources from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Finally, BMO Capital Markets set a $9.00 price target on Ramaco Resources and gave the company a “buy” rating in a report on Monday, March 26th.
NASDAQ:METC opened at $7.65 on Wednesday. Ramaco Resources has a twelve month low of $3.81 and a twelve month high of $9.35. The stock has a market capitalization of $305.83 million, a price-to-earnings ratio of -18.66 and a beta of 0.91.
Ramaco Resources (NASDAQ:METC) last released its quarterly earnings results on Wednesday, May 16th. The energy company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.16). Ramaco Resources had a negative net margin of 6.69% and a negative return on equity of 6.01%. The business had revenue of $55.94 million during the quarter. equities research analysts forecast that Ramaco Resources will post 1.18 earnings per share for the current year.
Large investors have recently added to or reduced their stakes in the business. Schwab Charles Investment Management Inc. raised its holdings in shares of Ramaco Resources by 90.0% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 24,257 shares of the energy company’s stock valued at $167,000 after acquiring an additional 11,492 shares in the last quarter. Waratah Capital Advisors Ltd. purchased a new position in shares of Ramaco Resources during the 1st quarter valued at about $470,000. Mangrove Partners purchased a new position in shares of Ramaco Resources during the 4th quarter valued at about $2,008,000. BlackRock Inc. raised its holdings in shares of Ramaco Resources by 4.7% during the 1st quarter. BlackRock Inc. now owns 313,669 shares of the energy company’s stock valued at $2,256,000 after buying an additional 14,045 shares in the last quarter. Finally, Triarii Capital Management LP purchased a new position in shares of Ramaco Resources during the 4th quarter valued at about $4,403,000. 85.43% of the stock is currently owned by hedge funds and other institutional investors.
About Ramaco Resources
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 18,728 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.
Get a free copy of the Zacks research report on Ramaco Resources (METC)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Ramaco Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ramaco Resources and related companies with MarketBeat.com's FREE daily email newsletter.