Ramaco Resources (NASDAQ:METC) Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen lowered shares of Ramaco Resources (NASDAQ:METC) from a sell rating to a strong sell rating in a research report released on Saturday.

Several other research firms also recently issued reports on METC. Benchmark decreased their price objective on shares of Ramaco Resources from $38.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Morgan Stanley cut their target price on Ramaco Resources from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 18th. The Goldman Sachs Group reduced their target price on Ramaco Resources from $13.00 to $11.00 and set a “neutral” rating for the company in a report on Thursday, August 6th. Robert W. Baird reissued a “neutral” rating and issued a $13.00 target price on shares of Ramaco Resources in a research report on Tuesday, August 18th. Finally, B. Riley Financial restated a “buy” rating on shares of Ramaco Resources in a research note on Tuesday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Ramaco Resources has a consensus rating of “Hold” and a consensus price target of $22.43.

Ramaco Resources Stock Up 4.5%

Shares of NASDAQ:METC opened at $12.43 on Friday. The firm has a 50 day simple moving average of $11.75 and a 200-day simple moving average of $13.98. Ramaco Resources has a twelve month low of $8.56 and a twelve month high of $57.80. The company has a current ratio of 4.23, a quick ratio of 3.31 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $787.94 million, a PE ratio of -11.62 and a beta of 1.37.

Ramaco Resources (NASDAQ:METC) last posted its earnings results on Tuesday, August 4th. The energy company reported ($0.26) EPS for the quarter, meeting analysts’ consensus estimates of ($0.26). Ramaco Resources had a negative net margin of 11.98% and a negative return on equity of 13.54%. The firm had revenue of $122.32 million for the quarter, compared to the consensus estimate of $133.11 million. On average, equities analysts predict that Ramaco Resources will post -1.02 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Discovery Capital Management, sold 500,000 shares of the company’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $9.57, for a total value of $4,785,000.00. Following the completion of the sale, the insider directly owned 4,811,360 shares of the company’s stock, valued at approximately $46,044,715.20. This represents a 9.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 46.07% of the company’s stock.

Hedge Funds Weigh In On Ramaco Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Quarry LP acquired a new position in Ramaco Resources in the 4th quarter valued at about $27,000. Caitong International Asset Management Co. Ltd lifted its position in Ramaco Resources by 14,250.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,722 shares of the energy company’s stock worth $31,000 after acquiring an additional 1,710 shares during the period. Allworth Financial LP grew its stake in shares of Ramaco Resources by 3,603.6% in the 3rd quarter. Allworth Financial LP now owns 1,037 shares of the energy company’s stock valued at $34,000 after purchasing an additional 1,009 shares during the last quarter. Advisory Services Network LLC purchased a new position in shares of Ramaco Resources in the 3rd quarter valued at approximately $38,000. Finally, MidFirst Bank acquired a new position in shares of Ramaco Resources in the fourth quarter valued at approximately $54,000. Hedge funds and other institutional investors own 74.49% of the company’s stock.

Ramaco Resources Company Profile

Ramaco Resources, Inc (NASDAQ:METC) is a U.S.-based producer of premium metallurgical coal and industrial minerals, focused on supplying the steel and allied industries. The company’s operations are centered in the Appalachian region of West Virginia, where it develops, mines and processes high-carbon coal products designed to meet the quality requirements of blast‐furnace and electric‐arc furnace steelmakers.

The firm’s flagship asset is the Elk Creek underground mine in Wyoming County, West Virginia, which began commercial production in 2019 and delivers a range of high‐grade metallurgical and anthracite coals.