Ramaco Resources (NASDAQ:METC) Shares Down 4.7% – What’s Next?

Ramaco Resources, Inc. (NASDAQ:METC) shares traded down 4.7% on Friday . The company traded as low as $15.43 and last traded at $15.8580. 2,802,787 shares were traded during trading, an increase of 34% from the average session volume of 2,088,594 shares. The stock had previously closed at $16.64.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on METC. Jefferies Financial Group cut shares of Ramaco Resources from a “buy” rating to a “hold” rating and dropped their price objective for the company from $45.00 to $33.00 in a research note on Tuesday, October 28th. The Goldman Sachs Group initiated coverage on shares of Ramaco Resources in a research note on Wednesday. They issued a “sell” rating and a $16.00 target price on the stock. Northland Securities set a $44.00 price target on shares of Ramaco Resources in a research report on Wednesday, October 29th. B. Riley lifted their price objective on Ramaco Resources from $14.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Finally, Baird R W raised Ramaco Resources to a “strong-buy” rating in a report on Thursday, October 16th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Ramaco Resources currently has a consensus rating of “Moderate Buy” and an average price target of $37.33.

Ramaco Resources Stock Performance

The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of -23.71 and a beta of 1.28. The stock’s 50-day simple moving average is $32.62 and its 200 day simple moving average is $22.07. The company has a quick ratio of 2.24, a current ratio of 2.97 and a debt-to-equity ratio of 0.24.

Ramaco Resources (NASDAQ:METC) last announced its earnings results on Monday, October 27th. The energy company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.05. Ramaco Resources had a negative return on equity of 8.26% and a negative net margin of 5.67%.The business had revenue of $104.87 million for the quarter, compared to the consensus estimate of $137.63 million. During the same period in the previous year, the business earned ($0.03) EPS. Ramaco Resources’s revenue was down 27.7% compared to the same quarter last year. Analysts expect that Ramaco Resources, Inc. will post 0.05 earnings per share for the current fiscal year.

Institutional Trading of Ramaco Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in METC. Archer Investment Corp bought a new stake in Ramaco Resources during the 3rd quarter worth about $33,000. MCF Advisors LLC acquired a new position in shares of Ramaco Resources during the third quarter worth approximately $35,000. Advisory Services Network LLC acquired a new position in shares of Ramaco Resources during the third quarter worth approximately $38,000. Sunbelt Securities Inc. grew its stake in shares of Ramaco Resources by 400.0% during the third quarter. Sunbelt Securities Inc. now owns 2,500 shares of the energy company’s stock valued at $83,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Keystone Financial Group acquired a new stake in shares of Ramaco Resources in the third quarter valued at approximately $88,000. 74.49% of the stock is currently owned by institutional investors and hedge funds.

Ramaco Resources Company Profile

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.