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

Ramaco Resources (NASDAQ:METC) was downgraded by Wall Street Zen from a “sell” rating to a “strong sell” rating in a research note issued to investors on Sunday, Wall Street Zen reports.

Several other equities research analysts have also weighed in on METC. Robert W. Baird restated a “neutral” rating and issued a $13.00 target price on shares of Ramaco Resources in a report on Tuesday, August 18th. Morgan Stanley lowered their price target on Ramaco Resources from $13.00 to $11.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 18th. 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. Weiss Ratings cut shares of Ramaco Resources from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday, August 6th. Finally, Zacks Research downgraded shares of Ramaco Resources from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Ramaco Resources currently has a consensus rating of “Hold” and a consensus target price of $22.43.

Ramaco Resources Stock Down 1.4%

Ramaco Resources stock opened at $7.99 on Friday. The company has a market capitalization of $506.47 million, a P/E ratio of -7.47 and a beta of 1.64. The firm’s fifty day simple moving average is $10.78 and its 200-day simple moving average is $12.88. The company has a current ratio of 4.23, a quick ratio of 3.31 and a debt-to-equity ratio of 1.23. Ramaco Resources has a 1-year low of $7.87 and a 1-year high of $57.80.

Ramaco Resources (NASDAQ:METC) last released its quarterly earnings data on Tuesday, August 4th. The energy company reported ($0.26) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.26). The business had revenue of $122.32 million during the quarter, compared to analyst estimates of $133.11 million. Ramaco Resources had a negative net margin of 11.98% and a negative return on equity of 13.54%. Sell-side analysts forecast that Ramaco Resources will post -1.02 earnings per share 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 Ramaco Resources stock in a transaction that occurred on Thursday, August 6th. The stock was 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 of the company’s stock, valued at $46,044,715.20. The trade was a 9.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 46.07% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ramaco Resources

Hedge funds have recently modified their holdings of the business. Cetera Investment Advisers raised its position in shares of Ramaco Resources by 12.2% in the first quarter. Cetera Investment Advisers now owns 26,850 shares of the energy company’s stock worth $415,000 after acquiring an additional 2,930 shares during the period. MidFirst Bank acquired a new stake in shares of Ramaco Resources during the 4th quarter valued at about $54,000. Van ECK Associates Corp increased its stake 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 valued at $515,000 after purchasing an additional 3,028 shares in the last quarter. AlphaGrep UK Ltd increased its stake 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 valued at $246,000 after purchasing an additional 3,044 shares in the last quarter. Finally, Kestra Advisory Services LLC raised its holdings in Ramaco Resources by 21.9% in the 1st quarter. Kestra Advisory Services LLC now owns 17,146 shares of the energy company’s stock worth $265,000 after purchasing an additional 3,083 shares during the period. 74.49% of the stock is owned by institutional investors.

Ramaco Resources Company Profile

Ramaco Resources, Inc is a producer of metallurgical coal, which is used primarily in the manufacture of steel and metallurgical coke. The company develops and operates coal mining properties and sells its products to domestic and international steel, coke and industrial customers.

Ramaco’s operations and development properties are located in major U.S. coal-producing regions, including southern West Virginia, southwestern Virginia and Wyoming. Its portfolio has included the Elk Creek and Berwind mining complexes in West Virginia, the RAM No.