Ramaco Resources (NASDAQ:METC) Stock Price Up 4.7% – Here’s Why

Ramaco Resources, Inc. (NASDAQ:METC)’s stock price rose 4.7% during mid-day trading on Tuesday . The stock traded as high as $15.84 and last traded at $16.2910. Approximately 58,998 shares traded hands during trading, a decline of 97% from the average daily volume of 2,142,914 shares. The stock had previously closed at $15.56.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on METC. Zacks Research cut Ramaco Resources from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th. Weiss Ratings reissued a “sell (d+)” rating on shares of Ramaco Resources in a research report on Monday, December 15th. The Goldman Sachs Group started coverage on shares of Ramaco Resources in a report on Wednesday, November 19th. They set a “sell” rating and a $16.00 price target for the company. Robert W. Baird set a $43.00 price objective on shares of Ramaco Resources in a research report on Wednesday, October 29th. Finally, Northland Capmk raised shares of Ramaco Resources to a “strong-buy” rating in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $34.50.

Ramaco Resources Stock Up 7.2%

The company has a market capitalization of $1.10 billion, a PE ratio of -25.03 and a beta of 1.42. The company has a quick ratio of 2.24, a current ratio of 2.97 and a debt-to-equity ratio of 0.24. The stock has a 50-day moving average of $24.32 and a 200 day moving average of $23.27.

Ramaco Resources (NASDAQ:METC) last issued its quarterly earnings results on Monday, October 27th. The energy company reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.05. The company had revenue of $104.87 million during the quarter, compared to analyst estimates of $137.63 million. Ramaco Resources had a negative net margin of 5.67% and a negative return on equity of 8.26%. Ramaco Resources’s quarterly revenue was down 27.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.03) EPS. Sell-side analysts anticipate that Ramaco Resources, Inc. will post 0.05 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. American Century Companies Inc. raised its holdings in Ramaco Resources by 8.4% in the second quarter. American Century Companies Inc. now owns 1,028,186 shares of the energy company’s stock worth $13,510,000 after purchasing an additional 79,858 shares in the last quarter. Acuitas Investments LLC grew its holdings in Ramaco Resources by 17.3% in the second quarter. Acuitas Investments LLC now owns 363,578 shares of the energy company’s stock worth $4,777,000 after purchasing an additional 53,621 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of Ramaco Resources during the first quarter valued at approximately $555,000. Geode Capital Management LLC increased its stake in shares of Ramaco Resources by 25.0% during the second quarter. Geode Capital Management LLC now owns 687,343 shares of the energy company’s stock valued at $9,033,000 after purchasing an additional 137,635 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Ramaco Resources by 52.0% during the first quarter. Invesco Ltd. now owns 49,891 shares of the energy company’s stock valued at $411,000 after purchasing an additional 17,069 shares during the last quarter. 74.49% of the stock is owned by hedge funds and other institutional investors.

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.