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

Ramaco Resources (NASDAQ:METC) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Thursday.

Other research analysts have also recently issued research reports about the company. B. Riley cut their target price on Ramaco Resources from $18.00 to $14.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. Benchmark reduced their price target on shares of Ramaco Resources from $18.00 to $14.00 and set a “buy” rating for the company in a report on Tuesday, May 13th.

Ramaco Resources Price Performance

Shares of NASDAQ:METC opened at $9.07 on Thursday. The company has a market capitalization of $496.17 million, a P/E ratio of 13.95 and a beta of 1.28. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.35 and a quick ratio of 0.86. The firm’s 50 day simple moving average is $8.96 and its two-hundred day simple moving average is $10.02. Ramaco Resources has a 1-year low of $6.30 and a 1-year high of $15.49.

Ramaco Resources (NASDAQ:METC) last announced its quarterly earnings results on Monday, May 12th. The energy company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.10. Ramaco Resources had a net margin of 5.35% and a return on equity of 10.17%. The business had revenue of $115.61 million for the quarter, compared to analysts’ expectations of $137.10 million. During the same quarter in the previous year, the company earned $0.23 EPS. The business’s quarterly revenue was down 22.0% compared to the same quarter last year. Research analysts expect that Ramaco Resources will post 0.05 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Yorktown Xi Associates Llc sold 89,501 shares of the company’s stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $8.09, for a total value of $724,063.09. Following the transaction, the insider now owns 1,024,870 shares of the company’s stock, valued at $8,291,198.30. This represents a 8.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Peter A. Leidel sold 225,000 shares of the company’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $8.08, for a total transaction of $1,818,000.00. Following the completion of the transaction, the director now directly owns 677,403 shares in the company, valued at $5,473,416.24. The trade was a 24.93% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 922,582 shares of company stock worth $7,898,023 in the last quarter. Corporate insiders own 36.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in METC. JPMorgan Chase & Co. raised its holdings in Ramaco Resources by 97.3% in the third quarter. JPMorgan Chase & Co. now owns 68,520 shares of the energy company’s stock valued at $802,000 after acquiring an additional 33,788 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Ramaco Resources by 68.8% during the 4th quarter. SG Americas Securities LLC now owns 16,076 shares of the energy company’s stock worth $165,000 after purchasing an additional 6,555 shares during the last quarter. Arkfeld Wealth Strategies L.L.C. grew its stake in shares of Ramaco Resources by 0.8% during the fourth quarter. Arkfeld Wealth Strategies L.L.C. now owns 232,755 shares of the energy company’s stock worth $2,251,000 after purchasing an additional 1,748 shares in the last quarter. DAVENPORT & Co LLC increased its holdings in Ramaco Resources by 39.5% in the fourth quarter. DAVENPORT & Co LLC now owns 29,721 shares of the energy company’s stock valued at $305,000 after buying an additional 8,416 shares during the last quarter. Finally, Empowered Funds LLC raised its stake in Ramaco Resources by 5.1% in the fourth quarter. Empowered Funds LLC now owns 120,887 shares of the energy company’s stock valued at $1,240,000 after buying an additional 5,870 shares in the last quarter. Institutional investors and hedge funds own 74.49% of the company’s stock.

About Ramaco Resources

Ramaco Resources, Inc engages in the development, operation, and sale of metallurgical coal. Its development portfolio includes the Elk Creek project that covers an area of approximately 20,200 acres located in southern West Virginia; the Berwind property covering an area of approximately 62,500 acres situated on the border of West Virginia and Virginia; the Knox Creek property, which covers an area of approximately 64,050 acres is located in Virginia; the Maben property covering an area of approximately 28,000 acres situated in southwestern Pennsylvania southern West Virginia; and the Brook Mine property that covers an area of approximately 16,000 acres located in northeastern Wyoming.