Zacks Investment Research upgraded shares of Ramaco Resources (NASDAQ:METC) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $6.00 price objective on the energy company’s stock.
According to Zacks, “Ramaco Resources Inc. is an operator and developer of metallurgical coal primarily in southern West Virginia, southwestern Virginia and southwestern Pennsylvania. It operates principally in Charleston, West Virginia. Ramaco Resources Inc. is based in Lexington, Kentucky. “
Separately, TheStreet upgraded ZTO Express (Cayman) from a c+ rating to a b rating in a research note on Thursday, May 16th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Ramaco Resources has an average rating of Buy and a consensus price target of $8.50.
Ramaco Resources (NASDAQ:METC) last posted its earnings results on Tuesday, May 7th. The energy company reported $0.17 EPS for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.19). The business had revenue of $57.46 million during the quarter, compared to the consensus estimate of $71.12 million. Ramaco Resources had a return on equity of 19.16% and a net margin of 11.65%. On average, research analysts expect that Ramaco Resources will post 1.39 earnings per share for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the company. AlpInvest Partners B.V. purchased a new position in Ramaco Resources in the first quarter worth $175,000. Northwestern Mutual Investment Management Company LLC purchased a new position in Ramaco Resources in the first quarter worth $46,000. Anchor Bolt Capital LP boosted its position in Ramaco Resources by 13.4% in the fourth quarter. Anchor Bolt Capital LP now owns 425,483 shares of the energy company’s stock worth $2,106,000 after purchasing an additional 50,296 shares during the last quarter. Geode Capital Management LLC boosted its position in Ramaco Resources by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 68,665 shares of the energy company’s stock worth $339,000 after purchasing an additional 1,849 shares during the last quarter. Finally, Dimensional Fund Advisors LP purchased a new position in Ramaco Resources in the fourth quarter worth $160,000. Hedge funds and other institutional investors own 76.02% 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 20,552 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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