Seaport Global Securities Analysts Increase Earnings Estimates for Ramaco Resources Inc (NASDAQ:METC)

Ramaco Resources Inc (NASDAQ:METC) – Equities research analysts at Seaport Global Securities lifted their FY2019 earnings estimates for shares of Ramaco Resources in a report released on Monday, October 15th, according to Zacks Investment Research. Seaport Global Securities analyst M. Levin now anticipates that the energy company will post earnings per share of $2.26 for the year, up from their prior estimate of $1.21.

METC has been the topic of a number of other research reports. B. Riley lifted their target price on Ramaco Resources from $10.00 to $10.50 and gave the stock a “buy” rating in a research report on Friday, September 14th. Zacks Investment Research upgraded Ramaco Resources from a “hold” rating to a “strong-buy” rating and set a $9.00 target price on the stock in a research report on Wednesday, September 19th. ValuEngine upgraded Ramaco Resources from a “sell” rating to a “hold” rating in a research report on Monday, August 13th. Finally, TheStreet cut Ramaco Resources from a “c-” rating to a “d” rating in a research report on Monday, August 6th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Ramaco Resources currently has a consensus rating of “Buy” and a consensus target price of $9.63.

Shares of METC traded down $0.10 during midday trading on Wednesday, reaching $5.96. 250,418 shares of the stock were exchanged, compared to its average volume of 62,882. Ramaco Resources has a twelve month low of $3.81 and a twelve month high of $9.35. The stock has a market capitalization of $274.97 million, a P/E ratio of -14.54 and a beta of 0.89.

Ramaco Resources (NASDAQ:METC) last announced its quarterly earnings results on Wednesday, November 7th. The energy company reported $0.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.10). Ramaco Resources had a return on equity of 15.78% and a net margin of 9.20%. The business had revenue of $62.17 million for the quarter, compared to analysts’ expectations of $68.65 million.

A number of hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. increased its position in Ramaco Resources by 27.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 348,353 shares of the energy company’s stock valued at $2,599,000 after acquiring an additional 75,938 shares during the period. Foundry Partners LLC increased its position in Ramaco Resources by 5.3% in the 3rd quarter. Foundry Partners LLC now owns 386,016 shares of the energy company’s stock valued at $2,880,000 after acquiring an additional 19,341 shares during the period. Northern Trust Corp increased its position in Ramaco Resources by 26.7% in the 2nd quarter. Northern Trust Corp now owns 79,943 shares of the energy company’s stock valued at $557,000 after acquiring an additional 16,822 shares during the period. GeoSphere Capital Management LLC acquired a new position in Ramaco Resources in the 2nd quarter valued at about $109,000. Finally, Unigestion Holding SA acquired a new position in Ramaco Resources in the 2nd quarter valued at about $870,000. Hedge funds and other institutional investors own 84.46% 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.

Read More: Understanding Relative Strength Index

Get a free copy of the Zacks research report on Ramaco Resources (METC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Ramaco Resources (NASDAQ:METC)

Receive News & Ratings for Ramaco Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ramaco Resources and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply