Ramaco Resources (NASDAQ:METC) Shares Up 5.7% – What’s Next?

Ramaco Resources, Inc. (NASDAQ:METC)’s stock price traded up 5.7% on Wednesday. The stock traded as high as $8.60 and last traded at $8.8540. Approximately 105,218 shares were traded during mid-day trading, a decline of 95% from the average daily volume of 2,061,037 shares. The stock had previously closed at $8.38.

Analysts Set New Price Targets

METC has been the subject of several analyst reports. Benchmark cut their price target on shares of Ramaco Resources from $38.00 to $26.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Weiss Ratings cut Ramaco Resources from a “sell (d)” rating to a “sell (d-)” rating in a research report on Thursday, August 6th. Zacks Research downgraded Ramaco Resources from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. Morgan Stanley reduced their price target on Ramaco Resources from $13.00 to $11.00 and set an “equal weight” rating for the company in a report on Tuesday, August 18th. Finally, Wall Street Zen upgraded Ramaco Resources from a “strong sell” rating to a “sell” rating in a research note on Saturday. One 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. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $22.43.

Ramaco Resources Price Performance

The firm has a market cap of $540.26 million, a PE ratio of -7.98 and a beta of 1.39. The company has a current ratio of 4.23, a quick ratio of 3.31 and a debt-to-equity ratio of 1.23. The company has a 50 day moving average price of $11.01 and a 200 day moving average price of $13.07.

Ramaco Resources (NASDAQ:METC) last released its quarterly earnings data on Tuesday, August 4th. The energy company reported ($0.26) earnings per share for the quarter, meeting 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 firm had revenue of $122.32 million during the quarter, compared to the consensus estimate of $133.11 million. On average, sell-side analysts expect that Ramaco Resources, Inc. will post -1.02 EPS for the current year.

Insider Activity

In related 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 completion of the transaction, the insider directly owned 4,811,360 shares in the company, valued at $46,044,715.20. The trade was a 9.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 46.07% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ramaco Resources

A number of institutional investors have recently made changes to their positions in METC. State Street Corp boosted its stake in shares of Ramaco Resources by 6.7% during the second quarter. State Street Corp now owns 3,059,847 shares of the energy company’s stock valued at $40,482,000 after acquiring an additional 192,663 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Ramaco Resources by 38.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,435,059 shares of the energy company’s stock valued at $22,179,000 after purchasing an additional 398,626 shares during the last quarter. Gratia Capital LLC purchased a new position in Ramaco Resources in the 2nd quarter valued at about $1,826,000. Quantbot Technologies LP lifted its holdings in Ramaco Resources by 54.1% in the 2nd quarter. Quantbot Technologies LP now owns 127,404 shares of the energy company’s stock valued at $1,686,000 after purchasing an additional 44,710 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Ramaco Resources during the 2nd quarter worth about $1,486,000. 74.49% of the stock is owned by institutional investors and hedge funds.

Ramaco Resources Company Profile

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.