Ramaco Resources (NASDAQ:METC) Shares Up 4.9% – Should You Buy?

Ramaco Resources, Inc. (NASDAQ:METC) shares traded up 4.9% during trading on Monday . The company traded as high as $12.54 and last traded at $12.4880. 252,592 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 2,043,677 shares. The stock had previously closed at $11.90.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on METC. Weiss Ratings downgraded Ramaco Resources from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, August 6th. Morgan Stanley dropped their target price on shares of Ramaco Resources from $13.00 to $11.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 18th. The Goldman Sachs Group reduced their target price on shares of Ramaco Resources from $13.00 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday, August 6th. Benchmark decreased their price target on shares of Ramaco Resources from $38.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Finally, Wall Street Zen cut shares of Ramaco Resources from a “sell” rating to a “strong sell” rating in a research report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $22.43.

Ramaco Resources Stock Up 3.9%

The firm has a market capitalization of $819.00 million, a P/E ratio of -12.07 and a beta of 1.37. The company has a fifty day simple moving average of $11.74 and a 200 day simple moving average of $13.93. The company has a quick ratio of 3.31, a current ratio of 4.23 and a debt-to-equity ratio of 1.23.

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

Insider Buying and Selling

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

Institutional Investors Weigh In On Ramaco Resources

A number of institutional investors have recently made changes to their positions in METC. Goldman Sachs Group Inc. increased its position in shares of Ramaco Resources by 27.0% during the first quarter. Goldman Sachs Group Inc. now owns 274,545 shares of the energy company’s stock valued at $2,260,000 after acquiring an additional 58,304 shares in the last quarter. Empowered Funds LLC lifted its position in Ramaco Resources by 1.8% in the 1st quarter. Empowered Funds LLC now owns 123,110 shares of the energy company’s stock valued at $1,013,000 after acquiring an additional 2,223 shares in the last quarter. Rhumbline Advisers boosted its stake in Ramaco Resources by 40.1% during the 2nd quarter. Rhumbline Advisers now owns 49,605 shares of the energy company’s stock valued at $652,000 after purchasing an additional 14,199 shares during the last quarter. Hsbc Holdings PLC boosted its stake in Ramaco Resources by 91.4% during the 2nd quarter. Hsbc Holdings PLC now owns 27,338 shares of the energy company’s stock valued at $358,000 after purchasing an additional 13,053 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its stake in Ramaco Resources by 144.8% during the 2nd quarter. New York State Common Retirement Fund now owns 32,039 shares of the energy company’s stock valued at $421,000 after purchasing an additional 18,951 shares during the last quarter. Hedge funds and other institutional investors own 74.49% of the company’s stock.

Ramaco Resources Company Profile

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.