Ramaco Resources (NASDAQ:METC) Shares Gap Up – Time to Buy?

Ramaco Resources, Inc. (NASDAQ:METC) shares gapped up prior to trading on Thursday . The stock had previously closed at $17.35, but opened at $18.86. Ramaco Resources shares last traded at $17.9850, with a volume of 856,663 shares.

Analysts Set New Price Targets

METC has been the subject of a number of research reports. Northland Capmk raised Ramaco Resources to a “strong-buy” rating in a research report on Wednesday, October 8th. Zacks Research downgraded shares of Ramaco Resources from a “hold” rating to a “strong sell” rating in a research report on Monday, October 13th. The Goldman Sachs Group began coverage on shares of Ramaco Resources in a research note on Wednesday. They set a “sell” rating and a $16.00 price objective for the company. Benchmark lifted their target price on shares of Ramaco Resources from $24.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Ramaco Resources in a report on Thursday, November 13th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Ramaco Resources presently has an average rating of “Moderate Buy” and an average price target of $37.33.

Ramaco Resources Stock Performance

The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of -26.40 and a beta of 1.28. The company’s fifty day simple moving average is $32.78 and its two-hundred day simple moving average is $22.11. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.24 and a current ratio of 2.97.

Ramaco Resources (NASDAQ:METC) last posted its quarterly earnings results on Monday, October 27th. The energy company reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.05. Ramaco Resources had a negative return on equity of 8.26% and a negative net margin of 5.67%.The business had revenue of $104.87 million during the quarter, compared to the consensus estimate of $137.63 million. During the same period last year, the firm earned ($0.03) earnings per share. The company’s revenue for the quarter was down 27.7% compared to the same quarter last year. Equities research analysts predict that Ramaco Resources, Inc. will post 0.05 earnings per share for the current fiscal year.

Institutional Trading of Ramaco Resources

A number of institutional investors and hedge funds have recently modified their holdings of METC. Vanguard Group Inc. raised its stake in Ramaco Resources by 40.0% during the third quarter. Vanguard Group Inc. now owns 2,335,257 shares of the energy company’s stock worth $77,507,000 after acquiring an additional 667,199 shares during the period. Encompass Capital Advisors LLC bought a new position in shares of Ramaco Resources during the first quarter worth about $13,248,000. American Century Companies Inc. grew its position in shares of Ramaco Resources by 8.4% during the second quarter. American Century Companies Inc. now owns 1,028,186 shares of the energy company’s stock worth $13,510,000 after acquiring an additional 79,858 shares during the last quarter. Millennium Management LLC acquired a new stake in shares of Ramaco Resources in the 3rd quarter worth about $23,451,000. Finally, Geode Capital Management LLC lifted its position in Ramaco Resources by 25.0% in the 2nd quarter. Geode Capital Management LLC now owns 687,343 shares of the energy company’s stock valued at $9,033,000 after purchasing an additional 137,635 shares during the last quarter. 74.49% of the stock is 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.