Ramaco Resources (NASDAQ:METC) Shares Down 7.4% – Time to Sell?

Ramaco Resources, Inc. (NASDAQ:METC)’s stock price fell 7.4% during mid-day trading on Monday . The stock traded as low as $26.36 and last traded at $25.6780. 942,151 shares were traded during trading, a decline of 69% from the average session volume of 3,015,930 shares. The stock had previously closed at $27.72.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Zacks Research raised Ramaco Resources from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Benchmark upped their price target on Ramaco Resources from $24.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Robert W. Baird set a $43.00 price target on shares of Ramaco Resources in a report on Wednesday, October 29th. Northland Securities set a $44.00 price objective on shares of Ramaco Resources in a research note on Wednesday, October 29th. Finally, 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 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Ramaco Resources currently has an average rating of “Moderate Buy” and a consensus target price of $34.07.

Ramaco Resources Stock Performance

The stock has a market cap of $1.43 billion, a PE ratio of -32.44 and a beta of 1.44. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.24 and a current ratio of 2.97. The company’s 50-day moving average price is $18.24 and its two-hundred day moving average price is $24.79.

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 firm had revenue of $104.87 million during the quarter, compared to analyst estimates of $137.63 million. Ramaco Resources had a negative return on equity of 8.26% and a negative net margin of 5.67%.The company’s revenue was down 27.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.03) earnings per share. On average, equities research analysts forecast that Ramaco Resources, Inc. will post 0.05 EPS for the current year.

Ramaco Resources announced that its Board of Directors has authorized a share buyback program on Tuesday, December 23rd that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the energy company to purchase up to 9.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On Ramaco Resources

Institutional investors and hedge funds have recently made changes to their positions in the business. Bridgeway Capital Management LLC lifted its stake in Ramaco Resources by 0.4% in the third quarter. Bridgeway Capital Management LLC now owns 122,998 shares of the energy company’s stock worth $4,082,000 after purchasing an additional 536 shares during the last quarter. AlphaQuest LLC increased its holdings in shares of Ramaco Resources by 12.6% in the third quarter. AlphaQuest LLC now owns 5,460 shares of the energy company’s stock worth $181,000 after buying an additional 610 shares during the period. Archer Investment Corp purchased a new position in shares of Ramaco Resources in the third quarter worth about $33,000. Allworth Financial LP lifted its stake in shares of Ramaco Resources by 3,603.6% in the 3rd quarter. Allworth Financial LP now owns 1,037 shares of the energy company’s stock valued at $34,000 after acquiring an additional 1,009 shares during the last quarter. Finally, MCF Advisors LLC purchased a new stake in Ramaco Resources during the 3rd quarter valued at about $35,000. 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.