Ramaco Resources (NASDAQ:METC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Ramaco Resources (NASDAQ:METC) from a strong sell rating to a sell rating in a report released on Saturday morning.

METC has been the topic of several other research reports. Zacks Research downgraded Ramaco Resources from a “hold” rating to a “strong sell” rating in a research report on Friday, July 17th. The Goldman Sachs Group reduced their price target on Ramaco Resources from $13.00 to $11.00 and set a “neutral” rating for the company in a research note on Thursday, August 6th. Weiss Ratings lowered Ramaco Resources from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday. B. Riley Financial dropped their target price on Ramaco Resources from $24.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, May 13th. Finally, Robert W. Baird set a $13.00 price target on shares of Ramaco Resources in a research note on Thursday. One investment 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $22.71.

Ramaco Resources Stock Performance

NASDAQ METC opened at $10.18 on Friday. The stock has a market cap of $663.53 million, a PE ratio of -9.51 and a beta of 1.37. 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 has a 50-day moving average of $12.57 and a 200-day moving average of $14.74. Ramaco Resources has a 52-week low of $8.56 and a 52-week high of $57.80.

Ramaco Resources (NASDAQ:METC) last announced its quarterly earnings results on Wednesday, August 5th. The energy company reported ($0.26) EPS for the quarter, meeting analysts’ consensus estimates of ($0.26). The business had revenue of $122.32 million for the quarter, compared to analyst estimates of $133.11 million. Ramaco Resources had a negative net margin of 11.98% and a negative return on equity of 13.54%. On average, sell-side analysts anticipate that Ramaco Resources will post -0.76 EPS for the current year.

Insider Transactions at Ramaco Resources

In related news, major shareholder Discovery Capital Management, sold 500,000 shares of the stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $9.57, for a total transaction of $4,785,000.00. Following the sale, the insider owned 4,811,360 shares of the company’s stock, valued at $46,044,715.20. This represents a 9.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 46.07% of the stock is owned by corporate insiders.

Institutional Trading of Ramaco Resources

Several large investors have recently modified their holdings of the stock. Quarry LP bought a new position in shares of Ramaco Resources in the fourth quarter worth $27,000. Caitong International Asset Management Co. Ltd lifted its position in Ramaco Resources by 14,250.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,722 shares of the energy company’s stock worth $31,000 after purchasing an additional 1,710 shares during the period. Allworth Financial LP grew its stake in Ramaco Resources by 3,603.6% during the third quarter. Allworth Financial LP now owns 1,037 shares of the energy company’s stock worth $34,000 after buying an additional 1,009 shares in the last quarter. Advisory Services Network LLC acquired a new stake in Ramaco Resources during the third quarter worth about $38,000. Finally, MidFirst Bank bought a new position in Ramaco Resources in the 4th quarter valued at about $54,000. 74.49% of the stock is owned by institutional investors and hedge funds.

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.