Ramaco Resources Inc (NASDAQ:METC) – Equities research analysts at Jefferies Financial Group lowered their FY2020 earnings per share estimates for Ramaco Resources in a research note issued to investors on Thursday, November 8th, Zacks Investment Research reports. Jefferies Financial Group analyst C. Lafemina now forecasts that the energy company will post earnings of $1.71 per share for the year, down from their previous estimate of $1.72. Jefferies Financial Group also issued estimates for Ramaco Resources’ FY2022 earnings at $1.58 EPS.
Ramaco Resources (NASDAQ:METC) last posted its quarterly earnings data on Wednesday, November 7th. The energy company reported $0.15 EPS for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.10). Ramaco Resources had a net margin of 9.20% and a return on equity of 15.27%. The company had revenue of $62.17 million for the quarter, compared to analyst estimates of $68.65 million.
A number of other research analysts have also commented on the stock. ValuEngine lowered shares of Ramaco Resources from a “hold” rating to a “sell” rating in a research note on Monday, November 26th. TheStreet cut shares of Ramaco Resources from a “c-” rating to a “d” rating in a report on Tuesday, November 20th. Zacks Investment Research cut shares of Ramaco Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 14th. Finally, B. Riley reduced their target price on shares of Ramaco Resources from $11.50 to $11.00 and set a “buy” rating for the company in a report on Tuesday, November 13th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $9.75.
Shares of NASDAQ METC traded down $0.11 during mid-day trading on Monday, reaching $5.09. 76,600 shares of the company traded hands, compared to its average volume of 97,305. Ramaco Resources has a fifty-two week low of $4.74 and a fifty-two week high of $9.35. The firm has a market capitalization of $208.43 million, a PE ratio of -12.61 and a beta of 0.66.
A number of large investors have recently modified their holdings of METC. BlackRock Inc. boosted its holdings in Ramaco Resources by 4.7% during the first quarter. BlackRock Inc. now owns 313,669 shares of the energy company’s stock worth $2,256,000 after buying an additional 14,045 shares in the last quarter. Unigestion Holding SA acquired a new position in Ramaco Resources in the 2nd quarter worth approximately $870,000. GeoSphere Capital Management LLC acquired a new position in Ramaco Resources in the 2nd quarter worth approximately $109,000. Northern Trust Corp boosted its stake in Ramaco Resources by 26.7% in 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. Finally, Foundry Partners LLC boosted its stake in Ramaco Resources by 5.3% in 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. Hedge funds and other institutional investors own 80.37% 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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