Ramaco Resources (NASDAQ:METC) Stock Price Down 8.9% – Should You Sell?

Ramaco Resources, Inc. (NASDAQ:METC)’s stock price traded down 8.9% during trading on Thursday . The company traded as low as $11.36 and last traded at $11.33. 547,462 shares traded hands during trading, a decline of 73% from the average session volume of 2,002,051 shares. The stock had previously closed at $12.44.

Wall Street Analyst Weigh In

METC has been the topic of a number of recent analyst reports. Zacks Research downgraded Ramaco Resources from a “hold” rating to a “strong sell” rating in a research report on Friday, July 17th. B. Riley Financial reduced their target price on Ramaco Resources from $24.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. Robert W. Baird decreased their target price on Ramaco Resources from $30.00 to $25.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Weiss Ratings reissued a “sell (d)” rating on shares of Ramaco Resources in a research note on Thursday, June 18th. Finally, Morgan Stanley cut their price target on shares of Ramaco Resources from $17.00 to $13.00 and set an “equal weight” rating for the company in a report on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Ramaco Resources currently has a consensus rating of “Hold” and a consensus target price of $26.43.

Ramaco Resources Stock Performance

The company has a quick ratio of 3.93, a current ratio of 4.88 and a debt-to-equity ratio of 1.06. The firm has a 50-day moving average price of $13.68 and a two-hundred day moving average price of $15.65. The firm has a market cap of $674.61 million, a PE ratio of -9.41 and a beta of 1.35.

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). Ramaco Resources had a negative net margin of 11.52% and a negative return on equity of 13.44%. The firm had revenue of $101.41 million during the quarter, compared to analyst estimates of $129.72 million. During the same period in the prior year, the company posted ($0.20) earnings per share. The firm’s revenue for the quarter was down 9.7% compared to the same quarter last year. Research analysts forecast that Ramaco Resources, Inc. will post -0.58 EPS 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 the business’s stock in a transaction dated 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 transaction, the insider directly owned 5,311,360 shares in the company, valued at approximately $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 SEC, which can be accessed through the SEC website. Corporate insiders own 46.07% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. State Street Corp boosted its holdings in shares of Ramaco Resources by 10.2% during the 4th quarter. State Street Corp now owns 2,489,797 shares of the energy company’s stock worth $44,816,000 after purchasing an additional 230,197 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Ramaco Resources by 0.7% in the fourth quarter. Renaissance Technologies LLC now owns 1,526,164 shares of the energy company’s stock valued at $27,471,000 after purchasing an additional 9,860 shares during the last quarter. Dimensional Fund Advisors LP lifted its position 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 in the last quarter. Goldman Sachs Group Inc. boosted its stake in Ramaco Resources by 74.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,160,898 shares of the energy company’s stock worth $20,896,000 after buying an additional 496,150 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Ramaco Resources by 20.1% during the fourth quarter. Geode Capital Management LLC now owns 978,950 shares of the energy company’s stock worth $17,625,000 after buying an additional 163,971 shares during the last quarter. 74.49% of the stock is owned by hedge funds and other institutional investors.

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.