Ramaco Resources (NASDAQ:METC) Reaches New 1-Year Low – What’s Next?

Ramaco Resources, Inc. (NASDAQ:METC)’s stock price reached a new 52-week low on Tuesday . The stock traded as low as $11.55 and last traded at $11.4950, with a volume of 640906 shares changing hands. The stock had previously closed at $12.44.

Wall Street Analyst Weigh In

METC has been the topic of a number of research reports. The Goldman Sachs Group upgraded shares of Ramaco Resources from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $14.00 to $15.00 in a report on Tuesday, April 21st. Robert W. Baird reduced their target price on shares of Ramaco Resources from $30.00 to $25.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. 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 dropped their price target on Ramaco Resources from $17.50 to $17.00 and set an “equal weight” rating on the stock in a report on Thursday, April 9th. Finally, B. Riley Financial dropped their price target on Ramaco Resources from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Ramaco Resources presently has an average rating of “Moderate Buy” and an average target price of $27.29.

Ramaco Resources Price Performance

The stock has a 50-day moving average of $14.49 and a two-hundred day moving average of $16.12. The firm has a market cap of $767.82 million, a price-to-earnings ratio of -10.72 and a beta of 1.35. The company has a current ratio of 4.88, a quick ratio of 3.93 and a debt-to-equity ratio of 1.06.

Ramaco Resources (NASDAQ:METC) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $129.72 million. During the same quarter in the previous year, the firm posted ($0.20) EPS. Ramaco Resources’s quarterly revenue was down 9.7% on a year-over-year basis. On average, analysts anticipate that Ramaco Resources, Inc. will post -0.27 EPS for the current year.

Insider Buying and Selling at Ramaco Resources

In other news, major shareholder Discovery Capital Management, sold 200,000 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $14.79, for a total transaction of $2,958,000.00. Following the sale, the insider 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 46.07% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ramaco Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allworth Financial LP lifted its holdings in shares of Ramaco Resources by 3,603.6% in the third quarter. Allworth Financial LP now owns 1,037 shares of the energy company’s stock valued at $34,000 after purchasing an additional 1,009 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of Ramaco Resources during the third quarter valued at $38,000. Quarry LP acquired a new position in Ramaco Resources during the fourth quarter valued at $27,000. Caitong International Asset Management Co. Ltd raised 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 valued at $31,000 after buying an additional 1,710 shares during the period. Finally, Spirit of America Management Corp NY purchased a new stake in Ramaco Resources in the 4th quarter worth about $38,000. Institutional investors and hedge funds own 74.49% of the company’s stock.

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.