Ramaco Resources (NASDAQ:METC) had its price target upped by analysts at B. Riley from $10.00 to $10.50 in a research note issued on Friday, Stock Target Advisor reports. The firm currently has a “buy” rating on the energy company’s stock. B. Riley’s price objective points to a potential upside of 34.62% from the stock’s current price. B. Riley also issued estimates for Ramaco Resources’ FY2020 earnings at $1.45 EPS.
Other equities research analysts also recently issued reports about the stock. TheStreet upgraded shares of Ramaco Resources from a “d+” rating to a “c-” rating in a research note on Friday, August 31st. Zacks Investment Research downgraded shares of Ramaco Resources from a “buy” rating to a “hold” rating in a research note on Friday, August 10th. Finally, ValuEngine downgraded shares of Ramaco Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, June 27th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Ramaco Resources currently has an average rating of “Buy” and an average target price of $9.38.
NASDAQ METC opened at $7.80 on Friday. Ramaco Resources has a 12-month low of $3.81 and a 12-month high of $9.35. The firm has a market capitalization of $319.86 million, a price-to-earnings ratio of -19.02 and a beta of 1.58.
A number of hedge funds and other institutional investors have recently bought and sold shares of METC. Unigestion Holding SA acquired a new position in Ramaco Resources during the second quarter valued at $870,000. GeoSphere Capital Management LLC acquired a new position in Ramaco Resources during the second quarter valued at $109,000. Finally, BlackRock Inc. lifted its position in Ramaco Resources by 4.7% during the first quarter. BlackRock Inc. now owns 313,669 shares of the energy company’s stock valued at $2,256,000 after purchasing an additional 14,045 shares during the period. Institutional investors own 84.41% of the company’s stock.
About Ramaco Resources
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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