Ramaco Resources (NASDAQ:METC) Reaches New 1-Year Low – Time to Sell?

Ramaco Resources, Inc. (NASDAQ:METC)’s stock price reached a new 52-week low on Monday . The company traded as low as $9.05 and last traded at $9.05, with a volume of 19526 shares changing hands. The stock had previously closed at $9.17.

Analyst Ratings Changes

METC has been the topic of a number of analyst reports. Robert W. Baird decreased 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 report on Wednesday, May 13th. Morgan Stanley lowered their target price on shares of Ramaco Resources from $17.00 to $13.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 8th. Weiss Ratings reiterated a “sell (d)” rating on shares of Ramaco Resources in a report on Thursday, June 18th. B. Riley Financial reduced their price target on Ramaco Resources from $24.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, May 13th. Finally, Zacks Research cut Ramaco Resources from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $26.43.

Ramaco Resources Stock Performance

The company has a market cap of $572.74 million, a price-to-earnings ratio of -7.95 and a beta of 1.37. The company has a current ratio of 4.88, a quick ratio of 3.93 and a debt-to-equity ratio of 1.06. The stock’s 50 day moving average price is $13.28 and its 200 day moving average price is $15.24.

Ramaco Resources (NASDAQ:METC) last released its earnings results 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). Ramaco Resources had a negative return on equity of 13.44% and a negative net margin of 11.52%.The company had revenue of $101.41 million during the quarter, compared to analyst estimates of $129.72 million. During the same period in the prior year, the business posted ($0.20) earnings per share. Ramaco Resources’s revenue was down 9.7% on a year-over-year basis. On average, analysts expect that Ramaco Resources, Inc. will post -0.58 EPS for the current fiscal year.

Hedge Funds Weigh In On Ramaco Resources

A number of hedge funds have recently made changes to their positions in METC. Millennium Management LLC purchased a new position in shares of Ramaco Resources in the 3rd quarter worth about $23,451,000. Merewether Investment Management LP purchased a new stake in shares of Ramaco Resources during the 3rd quarter worth about $18,633,000. Goldman Sachs Group Inc. grew its holdings in shares of Ramaco Resources by 74.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,160,898 shares of the energy company’s stock worth $20,896,000 after purchasing an additional 496,150 shares during the period. Lunt Capital Management Inc. grew its holdings in shares of Ramaco Resources by 801.3% during the 4th quarter. Lunt Capital Management Inc. now owns 557,899 shares of the energy company’s stock worth $10,042,000 after purchasing an additional 495,999 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Ramaco Resources by 38.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,435,059 shares of the energy company’s stock worth $22,179,000 after purchasing an additional 398,626 shares in the last quarter. Institutional investors and hedge funds own 74.49% of the company’s stock.

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.