Ramaco Resources (NASDAQ:METC) Trading Up 7.1% – Should You Buy?

Ramaco Resources, Inc. (NASDAQ:METC) shares rose 7.1% on Tuesday . The stock traded as high as $9.82 and last traded at $10.0360. Approximately 708,201 shares were traded during trading, a decline of 66% from the average daily volume of 2,068,992 shares. The stock had previously closed at $9.37.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Morgan Stanley cut their price objective on Ramaco Resources from $13.00 to $11.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 18th. Zacks Research lowered Ramaco Resources from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. The Goldman Sachs Group dropped their price target on Ramaco Resources from $13.00 to $11.00 and set a “neutral” rating for the company in a research report on Thursday, August 6th. Wall Street Zen downgraded Ramaco Resources from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 22nd. Finally, Robert W. Baird restated a “neutral” rating and issued a $13.00 price objective on shares of Ramaco Resources in a report on Tuesday, August 18th. One investment 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 assigned a Sell rating to the company. According to MarketBeat, Ramaco Resources presently has an average rating of “Hold” and an average target price 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 firm’s 50-day moving average price is $11.24 and its two-hundred day moving average price is $13.23. The stock has a market cap of $588.26 million, a price-to-earnings ratio of -8.67 and a beta of 1.39.

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

Insider Activity at Ramaco Resources

In related news, major shareholder Discovery Capital Management, sold 500,000 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $9.57, for a total value of $4,785,000.00. Following the transaction, the insider directly owned 4,811,360 shares in the company, valued at approximately $46,044,715.20. This represents a 9.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 46.07% of the company’s stock.

Institutional Investors Weigh In On Ramaco Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State Street Corp lifted its stake in shares of Ramaco Resources by 6.7% in the 2nd quarter. State Street Corp now owns 3,059,847 shares of the energy company’s stock valued at $40,482,000 after purchasing an additional 192,663 shares during the last quarter. Gratia Capital LLC acquired a new stake in shares of Ramaco Resources during the 2nd quarter worth about $1,826,000. AlphaGrep UK Ltd raised its holdings in Ramaco Resources by 19.5% in the 2nd quarter. AlphaGrep UK Ltd now owns 18,620 shares of the energy company’s stock valued at $246,000 after buying an additional 3,044 shares during the period. Van ECK Associates Corp raised its holdings in Ramaco Resources by 8.4% in the 2nd quarter. Van ECK Associates Corp now owns 38,894 shares of the energy company’s stock valued at $515,000 after buying an additional 3,028 shares during the period. Finally, Hsbc Holdings PLC lifted its position in Ramaco Resources by 134.7% in the second quarter. Hsbc Holdings PLC now owns 29,899 shares of the energy company’s stock valued at $388,000 after buying an additional 17,158 shares during the last quarter. Institutional investors and hedge funds own 74.49% of the company’s stock.

About Ramaco Resources

Ramaco Resources, Inc is a metallurgical coal producer headquartered in Lexington, Kentucky. The company develops, operates and sells metallurgical coal used primarily in the production of steel. Its products include various grades of high-quality metallurgical coal, including high-volatility and low-volatility products, as well as coal suitable for pulverized coal injection applications.

Ramaco operates mining complexes in Central Appalachia, including properties in West Virginia and Virginia.