Investors Purchase High Volume of Call Options on Ramaco Resources (NASDAQ:METC)

Ramaco Resources, Inc. (NASDAQ:METC) was the recipient of unusually large options trading activity on Friday. Stock investors bought 11,345 call options on the stock. This is an increase of approximately 138% compared to the average daily volume of 4,771 call options.

Insider Activity at Ramaco Resources

In other Ramaco Resources news, major shareholder Discovery Capital Management, sold 200,000 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $14.79, for a total transaction of $2,958,000.00. Following the transaction, the insider owned 5,311,360 shares in the company, valued at $78,555,014.40. The trade was a 3.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 46.07% of the stock is currently owned by company insiders.

Institutional Trading of Ramaco Resources

A number of institutional investors have recently modified their holdings of METC. State Street Corp raised its holdings in shares of Ramaco Resources by 10.2% during the 4th quarter. State Street Corp now owns 2,489,797 shares of the energy company’s stock valued at $44,816,000 after buying an additional 230,197 shares in the last quarter. Renaissance Technologies LLC lifted its position in Ramaco Resources by 0.7% during the 4th quarter. Renaissance Technologies LLC now owns 1,526,164 shares of the energy company’s stock valued at $27,471,000 after acquiring an additional 9,860 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Ramaco Resources by 38.5% in the first 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 in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Ramaco Resources by 74.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,160,898 shares of the energy company’s stock valued at $20,896,000 after buying an additional 496,150 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Ramaco Resources by 20.1% in the 4th quarter. Geode Capital Management LLC now owns 978,950 shares of the energy company’s stock worth $17,625,000 after buying an additional 163,971 shares during the last quarter. 74.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on METC. Morgan Stanley reduced their price target on shares of Ramaco Resources from $17.00 to $13.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 8th. Zacks Research cut Ramaco Resources from a “hold” rating to a “strong sell” rating in a research report on Friday, July 17th. Robert W. Baird dropped their target price on shares of Ramaco Resources from $30.00 to $25.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. B. Riley Financial cut their price target on shares of Ramaco Resources from $24.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Ramaco Resources in a research report on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $26.43.

Ramaco Resources Stock Performance

NASDAQ METC traded down $0.76 during trading on Friday, reaching $10.44. The company’s stock had a trading volume of 749,697 shares, compared to its average volume of 1,998,615. The firm has a market capitalization of $680.48 million, a price-to-earnings ratio of -9.49 and a beta of 1.35. Ramaco Resources has a 12 month low of $10.35 and a 12 month high of $57.80. The company has a current ratio of 4.88, a quick ratio of 3.93 and a debt-to-equity ratio of 1.06. The firm has a 50 day moving average price of $13.76 and a 200 day moving average price of $15.69.

Ramaco Resources (NASDAQ:METC) last announced its quarterly earnings results on Monday, May 11th. The energy company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.08). Ramaco Resources had a negative net margin of 11.52% and a negative return on equity of 13.44%. The company had revenue of $101.41 million for the quarter, compared to the consensus estimate of $129.72 million. During the same period last year, the firm posted ($0.20) earnings per share. The company’s revenue for the quarter was down 9.7% compared to the same quarter last year. As a group, equities analysts anticipate that Ramaco Resources will post -0.58 EPS 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.