Ramaco Resources (NASDAQ:METC) Trading Up 6.6% – Here’s What Happened

Ramaco Resources, Inc. (NASDAQ:METC) shares traded up 6.6% during mid-day trading on Friday . The stock traded as high as $37.29 and last traded at $37.36. 425,516 shares traded hands during trading, a decline of 75% from the average session volume of 1,724,866 shares. The stock had previously closed at $35.05.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Zacks Research raised shares of Ramaco Resources from a “strong sell” rating to a “hold” rating in a research note on Friday, August 29th. Jefferies Financial Group lifted their target price on shares of Ramaco Resources from $27.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, September 18th. Benchmark reaffirmed a “buy” rating and set a $24.00 target price (up previously from $14.00) on shares of Ramaco Resources in a research note on Tuesday, August 5th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Ramaco Resources in a research note on Saturday, September 27th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $27.67.

Ramaco Resources Price Performance

The company has a debt-to-equity ratio of 0.36, a current ratio of 1.36 and a quick ratio of 0.84. The company has a market capitalization of $2.08 billion, a PE ratio of -83.89 and a beta of 1.37. The stock’s 50 day simple moving average is $25.95 and its 200-day simple moving average is $16.27.

Ramaco Resources (NASDAQ:METC) last issued its quarterly earnings results on Thursday, July 31st. The energy company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.07). The business had revenue of $152.96 million for the quarter, compared to analysts’ expectations of $131.55 million. Ramaco Resources had a negative return on equity of 5.55% and a negative net margin of 3.17%.The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter last year, the company earned $0.08 earnings per share. As a group, equities analysts forecast that Ramaco Resources, Inc. will post 0.05 earnings per share for the current fiscal year.

Insider Transactions at Ramaco Resources

In other Ramaco Resources news, Director Peter A. Leidel sold 1,600,000 shares of the business’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $18.75, for a total transaction of $30,000,000.00. Following the sale, the director directly owned 2,502,930 shares in the company, valued at $46,929,937.50. This represents a 39.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 36.20% of the stock is owned by company insiders.

Institutional Trading of Ramaco Resources

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd acquired a new position in shares of Ramaco Resources during the first quarter worth about $555,000. XTX Topco Ltd acquired a new position in shares of Ramaco Resources during the first quarter worth about $111,000. Exchange Traded Concepts LLC grew its position in shares of Ramaco Resources by 59.4% during the first quarter. Exchange Traded Concepts LLC now owns 69,763 shares of the energy company’s stock worth $574,000 after buying an additional 25,992 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Ramaco Resources by 3.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 41,656 shares of the energy company’s stock worth $427,000 after buying an additional 1,425 shares in the last quarter. Finally, CenterBook Partners LP grew its position in shares of Ramaco Resources by 151.0% during the first quarter. CenterBook Partners LP now owns 1,678,594 shares of the energy company’s stock worth $13,815,000 after buying an additional 1,009,782 shares in the last quarter. 74.49% of the stock is currently owned by hedge funds and other institutional investors.

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.