Ramaco Resources (METC) Given New $10.00 Price Target at Credit Suisse Group

Ramaco Resources (NASDAQ:METC) had its price objective raised by Credit Suisse Group from $9.00 to $10.00 in a report published on Tuesday. They currently have an outperform rating on the energy company’s stock.

Several other research firms have also weighed in on METC. Zacks Investment Research lowered Ramaco Resources from a buy rating to a hold rating in a report on Saturday, January 20th. ValuEngine lowered 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 target price on Ramaco Resources and gave the stock a buy rating in a report on Monday, March 26th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $10.63.

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Shares of Ramaco Resources stock opened at $7.19 on Tuesday. Ramaco Resources has a 52-week low of $3.81 and a 52-week high of $11.07.

Ramaco Resources (NASDAQ:METC) last posted its earnings results on Wednesday, March 21st. The energy company reported ($0.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.13). Ramaco Resources had a negative return on equity of 12.97% and a negative net margin of 25.26%. The company had revenue of $24.02 million during the quarter. equities analysts predict that Ramaco Resources will post 1.14 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of METC. Northern Trust Corp lifted its holdings in Ramaco Resources by 55.7% in the 2nd quarter. Northern Trust Corp now owns 32,804 shares of the energy company’s stock worth $198,000 after purchasing an additional 11,731 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Ramaco Resources by 91.3% during the second quarter. Vanguard Group Inc. now owns 207,800 shares of the energy company’s stock worth $1,258,000 after buying an additional 99,188 shares during the last quarter. State Street Corp lifted its holdings in shares of Ramaco Resources by 89.0% during the second quarter. State Street Corp now owns 61,626 shares of the energy company’s stock worth $373,000 after buying an additional 29,026 shares during the last quarter. Alyeska Investment Group L.P. lifted its holdings in shares of Ramaco Resources by 15.8% during the third quarter. Alyeska Investment Group L.P. now owns 550,000 shares of the energy company’s stock worth $3,647,000 after buying an additional 75,000 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in shares of Ramaco Resources by 90.0% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 24,257 shares of the energy company’s stock worth $167,000 after buying an additional 11,492 shares during the last quarter. Hedge funds and other institutional investors own 87.86% 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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