Ramaco Resources (NASDAQ:METC) Sets New 52-Week Low on Analyst Downgrade

Ramaco Resources, Inc. (NASDAQ:METC) reached a new 52-week low during mid-day trading on Monday after Zacks Research downgraded the stock from a hold rating to a strong sell rating. The company traded as low as $11.24 and last traded at $11.6180, with a volume of 93292 shares trading hands. The stock had previously closed at $11.66.

Other research analysts have also issued reports about the company. Morgan Stanley reduced their target price on Ramaco Resources from $17.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 8th. Robert W. Baird decreased their target price on shares of Ramaco Resources from $30.00 to $25.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. B. Riley Financial dropped their price target on shares of Ramaco Resources from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, May 13th. Weiss Ratings restated a “sell (d)” rating on shares of Ramaco Resources in a research report on Thursday, June 18th. Finally, The Goldman Sachs Group cut their target price on shares of Ramaco Resources from $16.00 to $13.00 and set a “neutral” rating for the company in a research note on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Ramaco Resources presently has a consensus rating of “Hold” and a consensus target price of $26.43.

Insider Activity at Ramaco Resources

In other news, major shareholder Discovery Capital Management, sold 200,000 shares of the firm’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $14.79, for a total value of $2,958,000.00. Following the transaction, the insider directly owned 5,311,360 shares of the company’s stock, valued at approximately $78,555,014.40. This trade represents a 3.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 46.07% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp lifted its position in Ramaco Resources by 10.2% during the fourth quarter. State Street Corp now owns 2,489,797 shares of the energy company’s stock worth $44,816,000 after buying an additional 230,197 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Ramaco Resources by 0.7% in the 4th quarter. Renaissance Technologies LLC now owns 1,526,164 shares of the energy company’s stock valued at $27,471,000 after buying an additional 9,860 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of 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 worth $22,179,000 after acquiring an additional 398,626 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Ramaco Resources by 74.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,160,898 shares of the energy company’s stock worth $20,896,000 after acquiring an additional 496,150 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Ramaco Resources by 20.1% during the 4th quarter. Geode Capital Management LLC now owns 978,950 shares of the energy company’s stock valued at $17,625,000 after acquiring an additional 163,971 shares during the last quarter. 74.49% of the stock is currently owned by institutional investors and hedge funds.

Ramaco Resources Trading Up 3.8%

The company has a quick ratio of 3.93, a current ratio of 4.88 and a debt-to-equity ratio of 1.06. The company’s 50-day moving average is $13.90 and its 200-day moving average is $15.78. The stock has a market capitalization of $773.69 million, a price-to-earnings ratio of -10.79 and a beta of 1.35.

Ramaco Resources (NASDAQ:METC) last posted its earnings results on Monday, May 11th. The energy company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.08). The firm had revenue of $101.41 million during the quarter, compared to analyst estimates of $129.72 million. Ramaco Resources had a negative net margin of 11.52% and a negative return on equity of 13.44%. The business’s revenue for the quarter was down 9.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.20) earnings per share. Research analysts anticipate that Ramaco Resources, Inc. will post -0.58 earnings per share for the current fiscal year.

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.