Ramaco Resources (NASDAQ:METC) Trading Down 4.8% – Time to Sell?

Ramaco Resources, Inc. (NASDAQ:METC) traded down 4.8% on Tuesday . The stock traded as low as $13.24 and last traded at $13.2870. 636,639 shares were traded during trading, a decline of 75% from the average session volume of 2,507,279 shares. The stock had previously closed at $13.96.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Robert W. Baird dropped their price target on Ramaco Resources from $40.00 to $30.00 and set an “outperform” rating on the stock in a research report on Friday, February 27th. Weiss Ratings restated a “sell (d+)” rating on shares of Ramaco Resources in a research report on Monday, December 29th. Morgan Stanley dropped their price target on Ramaco Resources from $17.50 to $17.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 9th. Jefferies Financial Group upgraded Ramaco Resources from a “hold” rating to a “buy” rating and dropped their price target for the company from $33.00 to $30.00 in a research report on Tuesday, January 20th. Finally, The Goldman Sachs Group dropped their price target on Ramaco Resources from $16.00 to $14.00 and set a “sell” rating on the stock in a research report on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $31.86.

Ramaco Resources Stock Down 6.0%

The stock has a 50 day simple moving average of $15.58 and a 200-day simple moving average of $21.70. The firm has a market cap of $880.60 million, a PE ratio of -13.30 and a beta of 1.43. The company has a debt-to-equity ratio of 0.95, a current ratio of 5.46 and a quick ratio of 4.66.

Ramaco Resources (NASDAQ:METC) last announced its quarterly earnings data on Wednesday, February 25th. The energy company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.02. The business had revenue of $108.72 million during the quarter, compared to analysts’ expectations of $143.48 million. Ramaco Resources had a negative return on equity of 12.01% and a negative net margin of 9.59%.The firm’s quarterly revenue was down 25.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.02 earnings per share. Sell-side analysts predict that Ramaco Resources, Inc. will post 0.05 EPS for the current fiscal year.

Ramaco Resources declared that its Board of Directors has initiated a share buyback plan on Tuesday, December 23rd that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the energy company to reacquire up to 9.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of METC. Goldman Sachs Group Inc. raised its stake in shares of Ramaco Resources by 27.0% in the first quarter. Goldman Sachs Group Inc. now owns 274,545 shares of the energy company’s stock worth $2,260,000 after purchasing an additional 58,304 shares during the last quarter. Empowered Funds LLC raised its stake in shares of Ramaco Resources by 1.8% in the first quarter. Empowered Funds LLC now owns 123,110 shares of the energy company’s stock worth $1,013,000 after purchasing an additional 2,223 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Ramaco Resources by 40.1% in the second quarter. Rhumbline Advisers now owns 49,605 shares of the energy company’s stock worth $652,000 after purchasing an additional 14,199 shares during the last quarter. Hsbc Holdings PLC raised its stake in shares of Ramaco Resources by 91.4% in the second quarter. Hsbc Holdings PLC now owns 27,338 shares of the energy company’s stock worth $358,000 after purchasing an additional 13,053 shares during the last quarter. Finally, New York State Common Retirement Fund raised its stake in shares of Ramaco Resources by 144.8% in the second quarter. New York State Common Retirement Fund now owns 32,039 shares of the energy company’s stock worth $421,000 after purchasing an additional 18,951 shares during the last quarter. Hedge funds and other institutional investors own 74.49% of the company’s stock.

About Ramaco Resources

Ramaco Resources, Inc (NASDAQ:METC) is a U.S.-based producer of premium metallurgical coal and industrial minerals, focused on supplying the steel and allied industries. The company’s operations are centered in the Appalachian region of West Virginia, where it develops, mines and processes high-carbon coal products designed to meet the quality requirements of blast‐furnace and electric‐arc furnace steelmakers.

The firm’s flagship asset is the Elk Creek underground mine in Wyoming County, West Virginia, which began commercial production in 2019 and delivers a range of high‐grade metallurgical and anthracite coals.