Ramaco Resources (NASDAQ:METC) Shares Gap Down – Should You Sell?

Ramaco Resources, Inc. (NASDAQ:METC)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $20.02, but opened at $19.06. Ramaco Resources shares last traded at $17.83, with a volume of 1,167,805 shares.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Ramaco Resources in a report on Wednesday. They issued a “sell” rating and a $16.00 price objective on the stock. Baird R W upgraded shares of Ramaco Resources to a “strong-buy” rating in a research report on Thursday, October 16th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Ramaco Resources in a report on Wednesday. Zacks Research lowered Ramaco Resources from a “hold” rating to a “strong sell” rating in a report on Monday, October 13th. Finally, Benchmark raised their target price on Ramaco Resources from $24.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $37.33.

Ramaco Resources Stock Down 2.9%

The company has a debt-to-equity ratio of 0.24, a current ratio of 2.97 and a quick ratio of 2.24. The firm has a market capitalization of $1.07 billion, a P/E ratio of -24.10 and a beta of 1.28. The firm’s fifty day moving average price is $32.62 and its 200-day moving average price is $22.07.

Ramaco Resources (NASDAQ:METC) last released its earnings results on Monday, October 27th. The energy company reported ($0.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.05. The firm had revenue of $104.87 million during the quarter, compared to the consensus estimate of $137.63 million. Ramaco Resources had a negative return on equity of 8.26% and a negative net margin of 5.67%.The firm’s revenue for the quarter was down 27.7% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.03) earnings per share. As a group, equities research analysts forecast that Ramaco Resources, Inc. will post 0.05 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Acuitas Investments LLC lifted its stake in Ramaco Resources by 17.3% during the second quarter. Acuitas Investments LLC now owns 363,578 shares of the energy company’s stock valued at $4,777,000 after purchasing an additional 53,621 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Ramaco Resources during the 1st quarter valued at $555,000. XTX Topco Ltd bought a new stake in shares of Ramaco Resources during the 1st quarter worth $111,000. Victory Capital Management Inc. boosted its stake in shares of Ramaco Resources by 15.6% during the 1st quarter. Victory Capital Management Inc. now owns 127,062 shares of the energy company’s stock worth $1,046,000 after acquiring an additional 17,121 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Ramaco Resources by 52.0% in the 1st quarter. Invesco Ltd. now owns 49,891 shares of the energy company’s stock worth $411,000 after acquiring an additional 17,069 shares during the last quarter. 74.49% of the stock is 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.