Ramaco Resources (NASDAQ:METC) Shares Up 4.9% – Here’s What Happened

Ramaco Resources, Inc. (NASDAQ:METC)’s share price rose 4.9% on Monday . The stock traded as high as $12.54 and last traded at $12.4880. 252,592 shares were traded during mid-day trading, a decline of 88% from the average session volume of 2,043,677 shares. The stock had previously closed at $11.90.

Wall Street Analyst Weigh In

Several equities analysts recently commented on METC shares. Morgan Stanley decreased their target price on Ramaco Resources from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 18th. Wall Street Zen lowered Ramaco Resources from a “sell” rating to a “strong sell” rating in a research note on Saturday. Weiss Ratings cut shares of Ramaco Resources from a “sell (d)” rating to a “sell (d-)” rating in a research report on Thursday, August 6th. Zacks Research downgraded shares of Ramaco Resources from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. Finally, Benchmark lowered their price objective on shares of Ramaco Resources from $38.00 to $26.00 and set a “buy” rating for the company in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Ramaco Resources presently has an average rating of “Hold” and a consensus target price of $22.43.

Ramaco Resources Stock Up 3.3%

The stock has a 50 day moving average price of $11.80 and a 200-day moving average price of $14.04. The stock has a market capitalization of $779.48 million, a P/E ratio of -11.53 and a beta of 1.37. The company has a debt-to-equity ratio of 1.23, a current ratio of 4.23 and a quick ratio of 3.31.

Ramaco Resources (NASDAQ:METC) last released its quarterly earnings data on Tuesday, August 4th. The energy company reported ($0.26) EPS for the quarter, hitting the consensus estimate of ($0.26). Ramaco Resources had a negative return on equity of 13.54% and a negative net margin of 11.98%.The firm had revenue of $122.32 million for the quarter, compared to the consensus estimate of $133.11 million. As a group, research analysts expect that Ramaco Resources, Inc. will post -1.02 EPS for the current fiscal year.

Insider Transactions at Ramaco Resources

In other Ramaco Resources news, major shareholder Discovery Capital Management, sold 500,000 shares of Ramaco Resources stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $9.57, for a total value of $4,785,000.00. Following the transaction, the insider directly owned 4,811,360 shares of the company’s stock, valued at $46,044,715.20. The trade was a 9.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 46.07% of the stock is currently owned by insiders.

Institutional Trading of Ramaco Resources

A number of institutional investors have recently made changes to their positions in METC. Allworth Financial LP raised its holdings in Ramaco Resources by 3,603.6% during the 3rd quarter. Allworth Financial LP now owns 1,037 shares of the energy company’s stock valued at $34,000 after buying an additional 1,009 shares during the last quarter. Advisory Services Network LLC purchased a new stake in Ramaco Resources during the 3rd quarter valued at $38,000. Quarry LP bought a new stake in Ramaco Resources in the 4th quarter worth $27,000. Caitong International Asset Management Co. Ltd grew its holdings in Ramaco Resources by 14,250.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,722 shares of the energy company’s stock worth $31,000 after acquiring an additional 1,710 shares during the last quarter. Finally, Sunbelt Securities Inc. increased its position in shares of Ramaco Resources by 400.0% in the third quarter. Sunbelt Securities Inc. now owns 2,500 shares of the energy company’s stock valued at $83,000 after acquiring an additional 2,000 shares during the period. 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.