Ramaco Resources (NASDAQ:METC) Sets New 12-Month Low – Here’s Why

Ramaco Resources, Inc. (NASDAQ:METC) reached a new 52-week low during trading on Tuesday. The stock traded as low as $8.51 and last traded at $8.5850, with a volume of 772516 shares trading hands. The stock had previously closed at $8.98.

Analyst Upgrades and Downgrades

METC has been the topic of several recent research reports. B. Riley Financial reaffirmed a “buy” rating on shares of Ramaco Resources in a research note on Tuesday, August 18th. Robert W. Baird reiterated a “neutral” rating and issued a $13.00 target price on shares of Ramaco Resources in a research report on Tuesday, August 18th. Zacks Research lowered shares of Ramaco Resources from a “hold” rating to a “strong sell” rating in a research report on Friday, July 17th. Weiss Ratings cut shares of Ramaco Resources from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday, August 6th. Finally, Wall Street Zen upgraded shares of Ramaco Resources from a “strong sell” rating to a “sell” rating in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $22.43.

Ramaco Resources Stock Performance

The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.31 and a current ratio of 4.23. The firm’s 50-day moving average price is $11.08 and its two-hundred day moving average price is $13.12. The stock has a market cap of $536.91 million, a price-to-earnings ratio of -7.98 and a beta of 1.39.

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

Insider Buying and Selling at Ramaco Resources

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. MidFirst Bank purchased a new stake in Ramaco Resources in the fourth quarter valued at $54,000. Fifth Third Bancorp grew its holdings in shares of Ramaco Resources by 1,274.6% during the 1st quarter. Fifth Third Bancorp now owns 6,873 shares of the energy company’s stock worth $106,000 after purchasing an additional 6,373 shares during the period. Havemeyer Place LP acquired a new stake in shares of Ramaco Resources during the 4th quarter worth about $161,000. Caitong International Asset Management Co. Ltd increased its position in shares of Ramaco Resources by 78,508.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 9,433 shares of the energy company’s stock worth $170,000 after purchasing an additional 9,421 shares during the last quarter. Finally, Krilogy Financial LLC purchased a new stake in Ramaco Resources in the 1st quarter valued at about $155,000. 74.49% of the stock is currently owned by hedge funds and other institutional investors.

About Ramaco Resources

Ramaco Resources, Inc is a metallurgical coal producer headquartered in Lexington, Kentucky. The company develops, operates and sells metallurgical coal used primarily in the production of steel. Its products include various grades of high-quality metallurgical coal, including high-volatility and low-volatility products, as well as coal suitable for pulverized coal injection applications.

Ramaco operates mining complexes in Central Appalachia, including properties in West Virginia and Virginia.