Ramaco Resources (NASDAQ:METC) Sets New 1-Year Low After Analyst Downgrade

Ramaco Resources, Inc. (NASDAQ:METC) reached a new 52-week low during mid-day trading on Monday after Zacks Research downgraded the stock from a hold rating to a strong sell rating. The company traded as low as $11.24 and last traded at $11.6180, with a volume of 93292 shares traded. The stock had previously closed at $11.66.

A number of other equities research analysts also recently weighed in on the company. Weiss Ratings restated a “sell (d)” rating on shares of Ramaco Resources in a research report on Thursday, June 18th. B. Riley Financial cut their price objective on Ramaco Resources from $24.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, May 13th. The Goldman Sachs Group reduced their price objective on Ramaco Resources from $16.00 to $13.00 and set a “neutral” rating on the stock in a research report on Thursday, July 9th. Robert W. Baird decreased their price objective on Ramaco Resources from $30.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Finally, Morgan Stanley dropped their target price on Ramaco Resources from $17.00 to $13.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 8th. One research 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’s stock. According to MarketBeat, Ramaco Resources currently has a consensus rating of “Hold” and a consensus price target of $26.43.

Insider Activity

In other news, major shareholder Discovery Capital Management, sold 200,000 shares of the firm’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $14.79, for a total transaction of $2,958,000.00. Following the transaction, the insider directly owned 5,311,360 shares of the company’s stock, valued at approximately $78,555,014.40. This trade represents a 3.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 46.07% of the company’s stock.

Institutional Investors Weigh In On Ramaco Resources

Institutional investors have recently bought and sold shares of the stock. Bridgeway Capital Management LLC grew its position in shares of Ramaco Resources by 0.4% in the 3rd quarter. Bridgeway Capital Management LLC now owns 122,998 shares of the energy company’s stock worth $4,082,000 after buying an additional 536 shares during the last quarter. Allworth Financial LP raised its holdings in shares of Ramaco Resources by 3,603.6% during 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 in the last quarter. Advisory Services Network LLC bought a new position in shares of Ramaco Resources during the third quarter valued at approximately $38,000. Police & Firemen s Retirement System of New Jersey lifted its stake in Ramaco Resources by 16.0% in the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 9,549 shares of the energy company’s stock worth $172,000 after acquiring an additional 1,317 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in Ramaco Resources by 51.4% in the fourth quarter. Russell Investments Group Ltd. now owns 3,917 shares of the energy company’s stock worth $71,000 after acquiring an additional 1,330 shares during the period. 74.49% of the stock is currently owned by hedge funds and other institutional investors.

Ramaco Resources Trading Up 3.8%

The firm has a market cap of $773.69 million, a P/E ratio of -10.79 and a beta of 1.35. The firm’s fifty day moving average is $13.90 and its two-hundred day moving average is $15.78. The company has a quick ratio of 3.93, a current ratio of 4.88 and a debt-to-equity ratio of 1.06.

Ramaco Resources (NASDAQ:METC) last issued its quarterly earnings data on Monday, May 11th. The energy company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.08). Ramaco Resources had a negative net margin of 11.52% and a negative return on equity of 13.44%. The company had revenue of $101.41 million for the quarter, compared to analysts’ expectations of $129.72 million. During the same period in the previous year, the firm posted ($0.20) earnings per share. The firm’s revenue for the quarter was down 9.7% compared to the same quarter last year. Analysts predict that Ramaco Resources, Inc. will post -0.58 earnings per share for the current fiscal year.

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.