Ramaco Resources (NASDAQ:METC) Upgraded by Baird R W to Strong-Buy Rating

Baird R W upgraded shares of Ramaco Resources (NASDAQ:METC) to a strong-buy rating in a report published on Thursday morning,Zacks.com reports.

Several other research analysts have also commented on the stock. Zacks Research lowered shares of Ramaco Resources from a “hold” rating to a “strong sell” rating in a research note on Monday. Northland Capmk raised shares of Ramaco Resources to a “strong-buy” rating in a research note on Wednesday, October 8th. B. Riley raised their price objective on shares of Ramaco Resources from $14.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Northland Securities began coverage on shares of Ramaco Resources in a research note on Thursday, October 9th. They issued an “outperform” rating and a $50.00 price objective for the company. Finally, Robert W. Baird began coverage on shares of Ramaco Resources in a research note on Wednesday. They issued an “outperform” rating and a $63.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Ramaco Resources currently has an average rating of “Moderate Buy” and an average price target of $46.40.

Ramaco Resources Price Performance

Ramaco Resources stock opened at $49.48 on Thursday. The company’s 50 day simple moving average is $30.56 and its 200-day simple moving average is $18.57. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of -109.96 and a beta of 1.37. Ramaco Resources has a 1 year low of $6.30 and a 1 year high of $57.80. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.84 and a current ratio of 1.36.

Ramaco Resources (NASDAQ:METC) last released its quarterly earnings results on Thursday, July 31st. The energy company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.07). The company had revenue of $152.96 million during the quarter, compared to analysts’ expectations of $131.55 million. Ramaco Resources had a negative net margin of 3.17% and a negative return on equity of 5.55%. Ramaco Resources’s revenue was down 1.5% on a year-over-year basis. During the same period last year, the firm posted $0.08 earnings per share. As a group, equities research analysts expect that Ramaco Resources will post 0.05 earnings per share for the current year.

Insider Transactions at Ramaco Resources

In related news, Director Peter A. Leidel sold 1,600,000 shares of Ramaco Resources stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $18.75, for a total value of $30,000,000.00. Following the completion of the transaction, the director owned 2,502,930 shares in the company, valued at $46,929,937.50. The trade was a 39.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 36.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in METC. Brooklyn Investment Group purchased a new position in Ramaco Resources in the first quarter worth approximately $25,000. Ameritas Investment Partners Inc. lifted its stake in Ramaco Resources by 63.9% in the second quarter. Ameritas Investment Partners Inc. now owns 3,632 shares of the energy company’s stock worth $48,000 after acquiring an additional 1,416 shares during the last quarter. State of Wyoming purchased a new position in Ramaco Resources in the first quarter worth approximately $50,000. AlphaQuest LLC lifted its stake in Ramaco Resources by 30.6% in the first quarter. AlphaQuest LLC now owns 6,332 shares of the energy company’s stock worth $52,000 after acquiring an additional 1,482 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in Ramaco Resources by 384.0% in the second quarter. Farther Finance Advisors LLC now owns 3,920 shares of the energy company’s stock worth $52,000 after acquiring an additional 3,110 shares during the last quarter. Hedge funds and other institutional investors own 74.49% of the company’s stock.

Ramaco Resources Company Profile

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.