Ramaco Resources (NASDAQ:METC) Stock Jumps 6% – Time to Buy?

Shares of Ramaco Resources, Inc. (NASDAQ:METC) rose 6% on Thursday. The company traded as high as $8.68 and last traded at $8.7250. Approximately 1,335,017 shares were traded during trading, a decline of 35% from the average session volume of 2,065,691 shares. The stock had previously closed at $8.23.

Analysts Set New Price Targets

METC has been the subject of a number of research analyst reports. B. Riley Financial restated a “buy” rating on shares of Ramaco Resources in a research note on Tuesday, August 18th. The Goldman Sachs Group reduced their price target on Ramaco Resources from $13.00 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday, August 6th. Morgan Stanley decreased their price objective 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. Weiss Ratings lowered Ramaco Resources from a “sell (d)” rating to a “sell (d-)” rating in a research report on Thursday, August 6th. Finally, Wall Street Zen cut shares of Ramaco Resources from a “sell” rating to a “strong sell” rating in a report on Sunday, October 4th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $22.43.

Ramaco Resources Stock Up 2.5%

The company has a quick ratio of 3.31, a current ratio of 4.23 and a debt-to-equity ratio of 1.23. The company’s fifty day moving average price is $10.69 and its 200-day moving average price is $12.74. The stock has a market capitalization of $551.49 million, a PE ratio of -8.13 and a beta of 1.64.

Ramaco Resources (NASDAQ:METC) last posted its quarterly earnings results on Tuesday, August 4th. The energy company reported ($0.26) earnings per share for the quarter, hitting the consensus estimate of ($0.26). The company had revenue of $122.32 million for the quarter, compared to the consensus estimate of $133.11 million. Ramaco Resources had a negative return on equity of 13.54% and a negative net margin of 11.98%. Analysts forecast that Ramaco Resources, Inc. will post -0.97 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 the firm’s stock in a transaction 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. This trade represents a 9.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 46.07% of the company’s stock.

Hedge Funds Weigh In On Ramaco Resources

Hedge funds have recently bought and sold shares of the company. State Street Corp raised its holdings in Ramaco Resources by 6.7% in the 2nd quarter. State Street Corp now owns 3,059,847 shares of the energy company’s stock worth $40,482,000 after acquiring an additional 192,663 shares during the last quarter. Dimensional Fund Advisors LP lifted its position 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 acquiring an additional 398,626 shares in the last quarter. Gratia Capital LLC purchased a new stake in Ramaco Resources during the 2nd quarter valued at $1,826,000. Quantbot Technologies LP boosted its stake in Ramaco Resources by 54.1% during 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 during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in shares of Ramaco Resources in the 2nd quarter worth $1,486,000. Institutional investors own 74.49% of the company’s stock.

About Ramaco Resources

Ramaco Resources, Inc is a producer of metallurgical coal, which is used primarily in the manufacture of steel and metallurgical coke. The company develops and operates coal mining properties and sells its products to domestic and international steel, coke and industrial customers.

Ramaco’s operations and development properties are located in major U.S. coal-producing regions, including southern West Virginia, southwestern Virginia and Wyoming. Its portfolio has included the Elk Creek and Berwind mining complexes in West Virginia, the RAM No.