Ramaco Resources (NASDAQ:METC) Trading Down 7.5% – Should You Sell?

Shares of Ramaco Resources, Inc. (NASDAQ:METC) traded down 7.5% during trading on Wednesday . The stock traded as low as $13.80 and last traded at $13.6960. 944,795 shares traded hands during mid-day trading, a decline of 56% from the average session volume of 2,139,815 shares. The stock had previously closed at $14.80.

Analyst Ratings Changes

Several equities analysts have commented on the stock. B. Riley Financial decreased their price target on shares of Ramaco Resources from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, May 13th. Morgan Stanley decreased their price target on shares of Ramaco Resources from $17.50 to $17.00 and set an “equal weight” rating for the company in a research report on Thursday, April 9th. Zacks Research upgraded shares of Ramaco Resources from a “strong sell” rating to a “hold” rating in a research note on Friday, April 10th. Robert W. Baird cut their target price on shares of Ramaco Resources from $30.00 to $25.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. Finally, The Goldman Sachs Group upgraded shares of Ramaco Resources from a “sell” rating to a “neutral” rating and upped their target price for the stock from $14.00 to $15.00 in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.29.

Ramaco Resources Trading Down 6.6%

The firm has a market capitalization of $901.18 million, a PE ratio of -12.47 and a beta of 1.31. The company’s 50-day moving average price is $14.85 and its 200-day moving average price is $16.47. The company has a debt-to-equity ratio of 1.06, a quick ratio of 3.93 and a current ratio of 4.88.

Ramaco Resources (NASDAQ:METC) last released its quarterly earnings data on Monday, May 11th. The energy company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.08). The firm had revenue of $101.41 million for the quarter, compared to analysts’ expectations of $129.72 million. Ramaco Resources had a negative return on equity of 13.44% and a negative net margin of 11.52%.Ramaco Resources’s revenue for the quarter was down 9.7% on a year-over-year basis. During the same period last year, the firm posted ($0.20) earnings per share. On average, sell-side analysts expect that Ramaco Resources, Inc. will post -0.23 earnings per share for the current year.

Insider Activity

In other news, major shareholder Discovery Capital Management, sold 200,000 shares of Ramaco Resources stock in a transaction on Friday, May 1st. The shares were sold at an average price of $14.79, for a total transaction of $2,958,000.00. Following the completion of the sale, the insider directly owned 5,311,360 shares of the company’s stock, valued at approximately $78,555,014.40. The trade was a 3.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 46.07% of the company’s stock.

Institutional Investors Weigh In On Ramaco Resources

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bridgeway Capital Management LLC lifted its position in Ramaco Resources by 0.4% in the third quarter. Bridgeway Capital Management LLC now owns 122,998 shares of the energy company’s stock valued at $4,082,000 after acquiring an additional 536 shares during the last quarter. AlphaQuest LLC lifted its position in Ramaco Resources by 12.6% in the third quarter. AlphaQuest LLC now owns 5,460 shares of the energy company’s stock valued at $181,000 after acquiring an additional 610 shares during the last quarter. Allworth Financial LP lifted its position in Ramaco Resources by 3,603.6% in the third quarter. Allworth Financial LP now owns 1,037 shares of the energy company’s stock valued at $34,000 after acquiring an additional 1,009 shares during the last quarter. Advisory Services Network LLC purchased a new stake in Ramaco Resources in the third quarter valued at $38,000. Finally, US Bancorp DE lifted its position in Ramaco Resources by 2.7% in the third quarter. US Bancorp DE now owns 43,901 shares of the energy company’s stock valued at $1,457,000 after acquiring an additional 1,171 shares during the last quarter. 74.49% of the stock is owned by hedge funds and other institutional investors.

Ramaco Resources Company Profile

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.