Ramaco Resources (NASDAQ:METC) Trading Down 9.3% – Should You Sell?

Shares of Ramaco Resources, Inc. (NASDAQ:METC) were down 9.3% during mid-day trading on Monday . The company traded as low as $16.13 and last traded at $15.9920. Approximately 427,048 shares were traded during trading, a decline of 80% from the average daily volume of 2,103,228 shares. The stock had previously closed at $17.64.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on METC shares. B. Riley raised their target price on Ramaco Resources from $14.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Baird R W upgraded Ramaco Resources to a “strong-buy” rating in a research report on Thursday, October 16th. Benchmark lifted their price objective on Ramaco Resources from $24.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Jefferies Financial Group downgraded Ramaco Resources from a “buy” rating to a “hold” rating and cut their price objective for the company from $45.00 to $33.00 in a research note on Tuesday, October 28th. Finally, Zacks Research lowered shares of Ramaco Resources from a “hold” rating to a “strong sell” rating in a report on Monday, October 13th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $34.50.

Ramaco Resources Stock Performance

The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.24 and a current ratio of 2.97. The business’s fifty day simple moving average is $29.08 and its 200-day simple moving average is $22.89. The firm has a market capitalization of $1.04 billion, a PE ratio of -23.57 and a beta of 1.41.

Ramaco Resources (NASDAQ:METC) last released its earnings results on Monday, October 27th. The energy company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.05. Ramaco Resources had a negative net margin of 5.67% and a negative return on equity of 8.26%. The firm had revenue of $104.87 million for the quarter, compared to the consensus estimate of $137.63 million. During the same quarter in the previous year, the firm earned ($0.03) earnings per share. The company’s quarterly revenue was down 27.7% compared to the same quarter last year. As a group, equities research analysts expect that Ramaco Resources, Inc. will post 0.05 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. American Century Companies Inc. increased its stake in Ramaco Resources by 8.4% in the 2nd quarter. American Century Companies Inc. now owns 1,028,186 shares of the energy company’s stock worth $13,510,000 after acquiring an additional 79,858 shares during the last quarter. Acuitas Investments LLC grew its holdings in shares of Ramaco Resources by 17.3% in the second quarter. Acuitas Investments LLC now owns 363,578 shares of the energy company’s stock valued at $4,777,000 after purchasing an additional 53,621 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Ramaco Resources in the first quarter worth $555,000. Geode Capital Management LLC raised its stake in Ramaco Resources by 25.0% during the second quarter. Geode Capital Management LLC now owns 687,343 shares of the energy company’s stock valued at $9,033,000 after purchasing an additional 137,635 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in Ramaco Resources during the first quarter valued at $111,000. Hedge funds and other institutional investors own 74.49% of the company’s stock.

Ramaco Resources Company Profile

Ramaco Resources, Inc engages in the development, operation, and sale of metallurgical coal. Its development portfolio includes the Elk Creek project that covers an area of approximately 20,200 acres located in southern West Virginia; the Berwind property covering an area of approximately 62,500 acres situated on the border of West Virginia and Virginia; the Knox Creek property, which covers an area of approximately 64,050 acres is located in Virginia; the Maben property covering an area of approximately 28,000 acres situated in southwestern Pennsylvania southern West Virginia; and the Brook Mine property that covers an area of approximately 16,000 acres located in northeastern Wyoming.