Ramaco Resources (NASDAQ:METC) Stock Price Up 7.1% – What’s Next?

Ramaco Resources, Inc. (NASDAQ:METC)’s stock price traded up 7.1% during trading on Tuesday . The company traded as high as $9.82 and last traded at $10.0360. Approximately 708,201 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 2,068,992 shares. The stock had previously closed at $9.37.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on METC. Wall Street Zen downgraded Ramaco Resources from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 22nd. Robert W. Baird reiterated a “neutral” rating and issued a $13.00 target price on shares of Ramaco Resources in a report on Tuesday, August 18th. B. Riley Financial reissued a “buy” rating on shares of Ramaco Resources in a research report on Tuesday, August 18th. The Goldman Sachs Group lowered their price target on Ramaco Resources from $13.00 to $11.00 and set a “neutral” rating for the company in a research report on Thursday, August 6th. Finally, Weiss Ratings lowered shares of Ramaco Resources from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $22.43.

Ramaco Resources Stock Performance

The firm has a market capitalization of $645.37 million, a P/E ratio of -9.41 and a beta of 1.39. The company has a debt-to-equity ratio of 1.23, a current ratio of 4.23 and a quick ratio of 3.31. The firm has a 50-day moving average price of $11.38 and a two-hundred day moving average price of $13.31.

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

Insider Transactions at Ramaco Resources

In other Ramaco Resources 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 transaction, the insider directly owned 4,811,360 shares in the company, valued at $46,044,715.20. This represents a 9.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 46.07% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ramaco Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in METC. MidFirst Bank purchased a new stake in Ramaco Resources in the fourth quarter worth about $54,000. Bank of New York Mellon Corp purchased a new position in Ramaco Resources during the 2nd quarter valued at about $102,000. Fifth Third Bancorp raised its holdings in shares of Ramaco Resources by 1,274.6% in the 1st quarter. Fifth Third Bancorp now owns 6,873 shares of the energy company’s stock valued at $106,000 after purchasing an additional 6,373 shares in the last quarter. Krilogy Financial LLC bought a new stake in shares of Ramaco Resources in the 1st quarter valued at about $155,000. Finally, Havemeyer Place LP bought a new stake in shares of Ramaco Resources in the 4th quarter valued at about $161,000. Institutional investors own 74.49% of the company’s stock.

About Ramaco Resources

Ramaco Resources, Inc is a metallurgical coal producer headquartered in Lexington, Kentucky. The company develops, operates and sells metallurgical coal used primarily in the production of steel. Its products include various grades of high-quality metallurgical coal, including high-volatility and low-volatility products, as well as coal suitable for pulverized coal injection applications.

Ramaco operates mining complexes in Central Appalachia, including properties in West Virginia and Virginia.