ValuEngine Downgrades Ramaco Resources (NASDAQ:METC) to Sell

Ramaco Resources (NASDAQ:METC) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday, ValuEngine reports.

A number of other research firms have also weighed in on METC. B. Riley upped their price objective on Ramaco Resources from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Tuesday, March 24th. Benchmark initiated coverage on Ramaco Resources in a research note on Tuesday, February 25th. They issued a “buy” rating and a $5.00 price objective for the company. Finally, Zacks Investment Research lowered Ramaco Resources from a “hold” rating to a “sell” rating in a research note on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $6.40.

NASDAQ:METC traded up $0.14 during mid-day trading on Thursday, hitting $2.46. 32,300 shares of the company traded hands, compared to its average volume of 64,795. The stock’s fifty day moving average price is $2.70 and its 200-day moving average price is $3.31. Ramaco Resources has a one year low of $2.05 and a one year high of $7.22. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.06. The firm has a market cap of $98.56 million, a price-to-earnings ratio of 4.03 and a beta of 1.03.

Ramaco Resources (NASDAQ:METC) last released its quarterly earnings results on Thursday, February 20th. The energy company reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.05). Ramaco Resources had a net margin of 10.83% and a return on equity of 15.42%. The company had revenue of $45.61 million for the quarter, compared to the consensus estimate of $47.24 million. Equities analysts predict that Ramaco Resources will post 0.43 EPS for the current year.

A number of institutional investors have recently made changes to their positions in METC. Barclays PLC boosted its stake in Ramaco Resources by 102.0% during the fourth quarter. Barclays PLC now owns 8,382 shares of the energy company’s stock valued at $30,000 after buying an additional 4,232 shares during the last quarter. Goldman Sachs Group Inc. bought a new position in Ramaco Resources during the fourth quarter valued at approximately $36,000. Tower Research Capital LLC TRC boosted its stake in Ramaco Resources by 135.5% during the third quarter. Tower Research Capital LLC TRC now owns 10,060 shares of the energy company’s stock valued at $38,000 after buying an additional 5,789 shares during the last quarter. Renaissance Technologies LLC bought a new position in Ramaco Resources during the fourth quarter valued at approximately $44,000. Finally, UBS Group AG boosted its stake in Ramaco Resources by 78.3% during the fourth quarter. UBS Group AG now owns 12,164 shares of the energy company’s stock valued at $44,000 after buying an additional 5,340 shares during the last quarter. 72.56% of the stock is owned by 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 20,552 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.

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Analyst Recommendations for Ramaco Resources (NASDAQ:METC)

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