Ramaco Resources (NASDAQ:METC) Hits New 1-Year Low – Should You Sell?

Shares of Ramaco Resources, Inc. (NASDAQ:METC) reached a new 52-week low during trading on Monday . The stock traded as low as $11.24 and last traded at $11.6180, with a volume of 93292 shares changing hands. The stock had previously closed at $11.66.

Wall Street Analysts Forecast Growth

METC has been the subject of several research reports. Morgan Stanley cut their price objective on Ramaco Resources from $17.00 to $13.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 8th. The Goldman Sachs Group dropped their price target on Ramaco Resources from $16.00 to $13.00 and set a “neutral” rating for the company in a research report on Thursday, July 9th. B. Riley Financial reduced their price objective on Ramaco Resources from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, May 13th. Robert W. Baird decreased their price objective on Ramaco Resources from $30.00 to $25.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Ramaco Resources in a research report on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $26.43.

Ramaco Resources Stock Down 2.3%

The company has a debt-to-equity ratio of 1.06, a current ratio of 4.88 and a quick ratio of 3.93. The stock has a market cap of $742.40 million, a price-to-earnings ratio of -10.36 and a beta of 1.35. The firm’s 50-day moving average is $14.07 and its 200 day moving average is $15.86.

Ramaco Resources (NASDAQ:METC) last announced its quarterly earnings results on Monday, May 11th. The energy company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.08). Ramaco Resources had a negative net margin of 11.52% and a negative return on equity of 13.44%. The company had revenue of $101.41 million during the quarter, compared to analyst estimates of $129.72 million. During the same quarter last year, the business earned ($0.20) EPS. The firm’s revenue for the quarter was down 9.7% compared to the same quarter last year. Sell-side analysts anticipate that Ramaco Resources, Inc. will post -0.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Ramaco Resources

In related news, major shareholder Discovery Capital Management, sold 200,000 shares of Ramaco Resources stock in a transaction on 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 owned 5,311,360 shares in the company, valued at approximately $78,555,014.40. This trade represents a 3.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 46.07% of the company’s stock.

Institutional Investors Weigh In On Ramaco Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in METC. BankChampaign National Association acquired a new position in shares of Ramaco Resources in the 1st quarter valued at about $187,000. Royal Bank of Canada raised its holdings in Ramaco Resources by 16.4% in the first quarter. Royal Bank of Canada now owns 81,583 shares of the energy company’s stock valued at $1,262,000 after buying an additional 11,474 shares during the period. Cetera Investment Advisers lifted its position in Ramaco Resources by 12.2% during the first quarter. Cetera Investment Advisers now owns 26,850 shares of the energy company’s stock valued at $415,000 after buying an additional 2,930 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Ramaco Resources by 38.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,435,059 shares of the energy company’s stock worth $22,179,000 after buying an additional 398,626 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in Ramaco Resources by 8.1% during the first quarter. Bank of New York Mellon Corp now owns 108,724 shares of the energy company’s stock worth $1,681,000 after buying an additional 8,114 shares during the period. 74.49% of the stock is currently owned by institutional investors and hedge funds.

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.