Ramaco Resources (NASDAQ:METC) Stock Price Down 7.9% After Analyst Downgrade

Ramaco Resources, Inc. (NASDAQ:METC) dropped 7.9% during trading on Wednesday after Robert W. Baird lowered their price target on the stock from $30.00 to $25.00. Robert W. Baird currently has an outperform rating on the stock. Ramaco Resources traded as low as $14.85 and last traded at $15.2050. Approximately 336,444 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 2,246,271 shares. The stock had previously closed at $16.51.

A number of other research analysts also recently weighed in on METC. Zacks Research upgraded shares of Ramaco Resources from a “strong sell” rating to a “hold” rating in a research report on Friday, April 10th. Morgan Stanley lowered their price objective on shares of Ramaco Resources from $17.50 to $17.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 9th. Jefferies Financial Group upgraded shares of Ramaco Resources from a “hold” rating to a “buy” rating and dropped their price target for the stock from $33.00 to $30.00 in a research note on Tuesday, January 20th. Finally, The Goldman Sachs Group upgraded Ramaco Resources from a “sell” rating to a “neutral” rating and lifted their target price for the company from $14.00 to $15.00 in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Ramaco Resources currently has an average rating of “Moderate Buy” and an average price target of $31.29.

Insider Buying and Selling

In other news, major shareholder Discovery Capital Management, sold 200,000 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $14.79, for a total value of $2,958,000.00. Following the transaction, the insider directly owned 5,311,360 shares in the company, valued at $78,555,014.40. The trade was a 3.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 36.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ramaco Resources

Institutional investors have recently bought and sold shares of the stock. Millennium Management LLC bought a new stake in shares of Ramaco Resources in the 3rd quarter worth about $23,451,000. Vanguard Group Inc. boosted its position in shares of Ramaco Resources by 40.0% during the third quarter. Vanguard Group Inc. now owns 2,335,257 shares of the energy company’s stock valued at $77,507,000 after buying an additional 667,199 shares during the period. Bamco Inc. NY bought a new position in shares of Ramaco Resources during the third quarter valued at approximately $20,679,000. Merewether Investment Management LP purchased a new stake in shares of Ramaco Resources in the third quarter worth approximately $18,633,000. Finally, Goldman Sachs Group Inc. lifted its stake 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 acquiring an additional 496,150 shares during the last quarter. 74.49% of the stock is owned by hedge funds and other institutional investors.

Ramaco Resources Price Performance

The stock has a 50 day moving average of $14.61 and a 200-day moving average of $18.03. The company has a current ratio of 5.46, a quick ratio of 4.66 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $1.03 billion, a P/E ratio of -13.84 and a beta of 1.31.

Ramaco Resources (NASDAQ:METC) last posted its quarterly earnings data on Monday, May 11th. The energy company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.08). The firm had revenue of $101.41 million for the quarter, compared to the consensus estimate of $129.72 million. Ramaco Resources had a negative return on equity of 13.32% and a negative net margin of 11.52%.The company’s revenue was down 9.7% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.20) EPS. On average, equities research analysts anticipate that Ramaco Resources, Inc. will post -0.04 earnings per share for the current fiscal year.

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.