Ramaco Resources (NASDAQ:METC) Shares Down 11.8% – Should You Sell?

Ramaco Resources, Inc. (NASDAQ:METC)’s share price was down 11.8% on Thursday . The company traded as low as $17.38 and last traded at $17.4270. Approximately 740,886 shares traded hands during trading, a decline of 78% from the average daily volume of 3,442,495 shares. The stock had previously closed at $19.75.

Analyst Ratings Changes

A number of research analysts have recently commented on METC shares. The Goldman Sachs Group assumed coverage on Ramaco Resources in a research report on Wednesday, November 19th. They set a “sell” rating and a $16.00 price target on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Ramaco Resources in a report on Monday, December 29th. Zacks Research cut shares of Ramaco Resources from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Benchmark boosted their target price on Ramaco Resources from $24.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Finally, Northland Securities set a $44.00 price target on shares of Ramaco Resources in a report on Wednesday, October 29th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $34.07.

Ramaco Resources Trading Down 11.3%

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 firm has a 50-day moving average of $18.79 and a 200-day moving average of $24.80. The firm has a market capitalization of $1.16 billion, a P/E ratio of -26.04 and a beta of 1.44.

Ramaco Resources declared that its Board of Directors has approved a stock repurchase program on Tuesday, December 23rd that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the energy company to repurchase up to 9.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On Ramaco Resources

Several institutional investors have recently added to or reduced their stakes in the company. Bridgeway Capital Management LLC increased its position in shares of Ramaco Resources by 0.4% in the third quarter. Bridgeway Capital Management LLC now owns 122,998 shares of the energy company’s stock valued at $4,082,000 after acquiring an additional 536 shares during the period. AlphaQuest LLC lifted its holdings in Ramaco Resources by 12.6% in the 3rd 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 bought a new stake in shares of Ramaco Resources in the 3rd quarter worth approximately $33,000. Allworth Financial LP increased its stake in shares of Ramaco Resources by 3,603.6% during the third quarter. Allworth Financial LP now owns 1,037 shares of the energy company’s stock valued at $34,000 after buying an additional 1,009 shares during the period. Finally, MCF Advisors LLC bought a new position in shares of Ramaco Resources during the third quarter valued at approximately $35,000. 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.