Ramaco Resources (NASDAQ:METC) Shares Down 12.8% – What’s Next?

Ramaco Resources, Inc. (NASDAQ:METC)’s share price was down 12.8% during mid-day trading on Thursday . The stock traded as low as $12.76 and last traded at $12.5650. Approximately 407,568 shares traded hands during trading, a decline of 80% from the average session volume of 2,058,698 shares. The stock had previously closed at $14.41.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. The Goldman Sachs Group dropped their price objective on Ramaco Resources from $13.00 to $11.00 and set a “neutral” rating on the stock in a report on Thursday, August 6th. Morgan Stanley dropped their price target on shares of Ramaco Resources from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 18th. B. Riley Financial restated a “buy” rating on shares of Ramaco Resources in a report on Tuesday, August 18th. Wall Street Zen downgraded shares of Ramaco Resources from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 22nd. Finally, Robert W. Baird restated a “neutral” rating and set a $13.00 target price on shares of Ramaco Resources in a report on Tuesday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $22.43.

Ramaco Resources Stock Performance

The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.31 and a current ratio of 4.23. The stock’s 50-day simple moving average is $11.76 and its two-hundred day simple moving average is $13.79. The stock has a market cap of $772.15 million, a price-to-earnings ratio of -11.35 and a beta of 1.39.

Ramaco Resources (NASDAQ:METC) last posted its quarterly earnings data on Tuesday, August 4th. The energy company reported ($0.26) earnings per share for the quarter, hitting the consensus estimate of ($0.26). Ramaco Resources had a negative return on equity of 13.54% and a negative net margin of 11.98%.The business had revenue of $122.32 million during the quarter, compared to analysts’ expectations of $133.11 million. Analysts forecast that Ramaco Resources, Inc. will post -1.02 earnings per share for the current year.

Insider Activity at Ramaco Resources

In other news, major shareholder Discovery Capital Management, sold 500,000 shares of Ramaco Resources stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $9.57, for a total transaction of $4,785,000.00. Following the sale, the insider owned 4,811,360 shares of the company’s stock, valued at approximately $46,044,715.20. This trade represents a 9.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 46.07% of the company’s stock.

Institutional Trading of Ramaco Resources

Several institutional investors have recently made changes to their positions in the business. Millennium Management LLC acquired a new stake in shares of Ramaco Resources during the 3rd quarter worth about $23,451,000. Merewether Investment Management LP acquired a new stake in shares of Ramaco Resources in the third quarter valued at $18,633,000. Goldman Sachs Group Inc. raised its holdings in shares of Ramaco Resources by 74.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,160,898 shares of the energy company’s stock valued at $20,896,000 after buying an additional 496,150 shares during the last quarter. California State Teachers Retirement System raised its holdings in shares of Ramaco Resources by 1,370.4% in the second quarter. California State Teachers Retirement System now owns 527,387 shares of the energy company’s stock valued at $6,977,000 after buying an additional 491,521 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Ramaco Resources by 38.5% during the 1st 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. 74.49% of the stock is currently owned by institutional investors and hedge funds.

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.