Ramaco Resources (NASDAQ:METC – Get Free Report) had its price target lowered by investment analysts at B. Riley from $21.00 to $19.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the energy company’s stock. B. Riley’s price objective suggests a potential upside of 98.33% from the company’s previous close.
Separately, Benchmark reaffirmed a “buy” rating and set a $20.00 price target on shares of Ramaco Resources in a report on Thursday, August 29th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $16.90.
Read Our Latest Report on METC
Ramaco Resources Stock Down 6.7 %
Ramaco Resources (NASDAQ:METC – Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The energy company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.23. The company had revenue of $155.32 million during the quarter, compared to the consensus estimate of $141.66 million. Ramaco Resources had a return on equity of 16.30% and a net margin of 7.95%. On average, equities analysts predict that Ramaco Resources will post 1.44 earnings per share for the current year.
Institutional Trading of Ramaco Resources
Several institutional investors and hedge funds have recently made changes to their positions in METC. Innealta Capital LLC purchased a new stake in Ramaco Resources during the 2nd quarter valued at approximately $28,000. Allspring Global Investments Holdings LLC purchased a new stake in Ramaco Resources during the 1st quarter valued at approximately $93,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Ramaco Resources during the 2nd quarter valued at approximately $94,000. Global Trust Asset Management LLC raised its stake in Ramaco Resources by 2,071.7% during the 1st quarter. Global Trust Asset Management LLC now owns 7,058 shares of the energy company’s stock valued at $119,000 after acquiring an additional 6,733 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Ramaco Resources by 14.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,589 shares of the energy company’s stock valued at $130,000 after acquiring an additional 947 shares during the last quarter. 74.49% of the stock is owned by hedge funds and other institutional investors.
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.
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