Ramaco Resources Inc (METC) Given Consensus Recommendation of “Buy” by Analysts
Shares of Ramaco Resources Inc (NASDAQ:METC) have been assigned a consensus recommendation of “Buy” from the six research firms that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $10.00.
Several equities analysts have weighed in on METC shares. Zacks Investment Research cut Ramaco Resources from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. TheStreet upgraded Ramaco Resources from a “d+” rating to a “c-” rating in a research note on Friday, August 31st. B. Riley dropped their price objective on Ramaco Resources from $11.50 to $11.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, ValuEngine cut Ramaco Resources from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th.
NASDAQ METC opened at $5.70 on Friday. Ramaco Resources has a 12-month low of $4.00 and a 12-month high of $9.35. The firm has a market capitalization of $237.69 million, a P/E ratio of -13.90 and a beta of 0.89.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in METC. Unigestion Holding SA bought a new stake in shares of Ramaco Resources during the 2nd quarter worth $870,000. JPMorgan Chase & Co. raised its stake in shares of Ramaco Resources by 27.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 348,353 shares of the energy company’s stock worth $2,599,000 after purchasing an additional 75,938 shares during the period. AlpInvest Partners B.V. bought a new stake in shares of Ramaco Resources during the 3rd quarter worth $205,000. Foundry Partners LLC raised its stake in shares of Ramaco Resources by 5.3% during the 3rd quarter. Foundry Partners LLC now owns 386,016 shares of the energy company’s stock worth $2,880,000 after purchasing an additional 19,341 shares during the period. Finally, Northern Trust Corp raised its stake in shares of Ramaco Resources by 26.7% during the 2nd quarter. Northern Trust Corp now owns 79,943 shares of the energy company’s stock worth $557,000 after purchasing an additional 16,822 shares during the period. Institutional investors own 84.15% of the company’s stock.
Ramaco Resources Company Profile
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 18,728 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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