Ramaco Resources (NASDAQ:METC) Trading Down 6.5% – What’s Next?

Ramaco Resources, Inc. (NASDAQ:METC)’s share price dropped 6.5% during mid-day trading on Thursday . The stock traded as low as $11.45 and last traded at $11.48. 146,505 shares changed hands during trading, a decline of 93% from the average daily volume of 2,061,816 shares. The stock had previously closed at $12.28.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Wall Street Zen lowered Ramaco Resources from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 22nd. Zacks Research downgraded shares of Ramaco Resources from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th. Morgan Stanley reduced their target price on shares of Ramaco Resources from $13.00 to $11.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 18th. Benchmark lowered their target price on shares of Ramaco Resources from $38.00 to $26.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Finally, The Goldman Sachs Group dropped their price target on shares of Ramaco Resources from $13.00 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Ramaco Resources has an average rating of “Hold” and an average target price of $22.43.

Ramaco Resources Stock Down 2.3%

The stock has a 50-day moving average of $11.69 and a 200 day moving average of $13.61. The company has a market capitalization of $709.33 million, a PE ratio of -10.46 and a beta of 1.39. The company has a quick ratio of 3.31, a current ratio of 4.23 and a debt-to-equity ratio of 1.23.

Ramaco Resources (NASDAQ:METC) last posted its quarterly earnings data on Tuesday, August 4th. The energy company reported ($0.26) earnings per share for the quarter, hitting the consensus estimate of ($0.26). Ramaco Resources had a negative return on equity of 13.54% and a negative net margin of 11.98%.The business had revenue of $122.32 million for the quarter, compared to analysts’ expectations of $133.11 million. Sell-side analysts anticipate that Ramaco Resources, Inc. will post -1.02 EPS for the current year.

Insider Buying and Selling at Ramaco Resources

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

Institutional Trading of Ramaco Resources

Several hedge funds have recently added to or reduced their stakes in the stock. Gratia Capital LLC bought a new position in shares of Ramaco Resources during the 2nd quarter valued at approximately $1,826,000. California State Teachers Retirement System increased its stake in shares of Ramaco Resources by 1,370.4% during the 2nd quarter. California State Teachers Retirement System now owns 527,387 shares of the energy company’s stock worth $6,977,000 after purchasing an additional 491,521 shares during the last quarter. AlphaGrep UK Ltd raised its holdings in shares of Ramaco Resources by 19.5% in the 2nd quarter. AlphaGrep UK Ltd now owns 18,620 shares of the energy company’s stock worth $246,000 after purchasing an additional 3,044 shares during the period. Van ECK Associates Corp raised its holdings in shares of Ramaco Resources by 8.4% in the 2nd quarter. Van ECK Associates Corp now owns 38,894 shares of the energy company’s stock worth $515,000 after purchasing an additional 3,028 shares during the period. Finally, Hsbc Holdings PLC lifted its stake in Ramaco Resources by 134.7% in the second quarter. Hsbc Holdings PLC now owns 29,899 shares of the energy company’s stock valued at $388,000 after purchasing an additional 17,158 shares during the last quarter. 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.