Ramaco Resources Inc (NASDAQ: METC) Stock’s Potential for Success in the Coming Months

In the last trading session, 1.47 million Ramaco Resources Inc (NASDAQ:METC) shares changed hands as the company’s beta touched 1.23. With the company’s per share price at $16.43 changed hands at -$0.66 or -3.86% during last session, the market valuation stood at $865.70M. METC’s last price was a discount, traded about -21.36% off its 52-week high of $19.94. The share price had its 52-week low at $5.94, which suggests the last value was 63.85% up since then. When we look at Ramaco Resources Inc’s average trading volume, we note the 10-day average is 2.55 million shares, with the 3-month average coming to 710.59K.

Analysts gave the Ramaco Resources Inc (METC) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 1.50. If we narrow down to specifics, the data shows that 0 out of 4 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 1 recommended METC as a Hold, 3 felt it is a Buy and 0 rated the stock as Underweight. Ramaco Resources Inc’s EPS for the current quarter is expected to be $0.6.

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Ramaco Resources Inc (NASDAQ:METC) trade information

Instantly METC was in red as seen at the end of in last trading. With action -10.22%, the performance over the past five days has been red. The drop to weekly highs of 19.94 on Monday, 11/20/23 subtracted -3.86% to the stock’s daily price. The company’s shares are showing year-to-date upside of 128.54%, with the 5-day performance at -10.22% in the red. However, in the 30-day time frame, Ramaco Resources Inc (NASDAQ:METC) is 38.77% up. Looking at the short shares, we see there were 1.12 million shares sold at short interest cover period of 2.72 days.

The consensus price target for the stock as assigned by Wall Street analysts is $14.50, meaning bulls need a downside of -13.31% from its current market value. According to analyst projections, METC’s forecast low is $12.00 with $16.00 as the target high. To hit the forecast high, the stock’s price needs a 2.62% surge from its current level, while the stock would need to tank 26.96% for it to hit the projected low.

Ramaco Resources Inc (METC) estimates and forecasts

Data shows that the Ramaco Resources Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 122.22% over the past 6 months, a -32.31% in annual growth rate that is considerably lower than the industry average of -19.80%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Ramaco Resources Inc will rise 87.50%, while the growth in revenue is estimated to hit 21.10% for the next quarter. Year-over-year growth is forecast to reach 17.90% up from the last financial year.

Consensus estimates given by 3 financial analysts project the company’s revenue in the current quarter to hit an average of $176.22 million. 1 analysts are of the opinion that Ramaco Resources Inc’s revenue for the quarter ending Mar 2024 will be $240.33 million. The company’s revenue for the corresponding quarters a year ago was $135.23 million and $133.76 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 30.30%. The estimates for the next quarter sales put growth at 79.70%.

The 2023 estimates are for Ramaco Resources Inc earnings to decrease by -15.71%, but the outlook for the next 5-year period is at 4.23% per year.

METC Dividends

Ramaco Resources Inc is expected to release its next quarterly earnings report on November 08. The 3.04% annual yield figure for the share gives it an annual dividend of 0.50. It is important to note, however, that the 3.04% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.

Ramaco Resources Inc (NASDAQ:METC)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 10.23% of Ramaco Resources Inc shares while 61.21% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 68.18%. There are 61.21% institutions holding the Ramaco Resources Inc stock share, with Yorktown Energy Partners IX, L.P. the top institutional holder. As of Jun 29, 2023, the company held 12.78% of the shares, roughly 5.61 million METC shares worth $47.34 million.

Yorktown Energy Partners XI, L.P. holds the second largest percentage of outstanding shares, with 12.73% or 5.59 million shares worth $47.16 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. With 0.68 million shares estimated at $5.7 million under it, the former controlled 1.54% of total outstanding shares. On the other hand, iShares Russell 2000 ETF held about 1.15% of the shares, roughly 0.5 million shares worth around $3.95 million.

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