Ramaco Resources (NASDAQ:METC) Stock Price Down 4.9% – What’s Next?

Ramaco Resources, Inc. (NASDAQ:METC)’s share price traded down 4.9% on Monday . The company traded as low as $13.97 and last traded at $13.89. 632,737 shares were traded during trading, a decline of 77% from the average session volume of 2,720,159 shares. The stock had previously closed at $14.60.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on METC shares. Morgan Stanley began coverage on Ramaco Resources in a research note on Friday, December 5th. They issued an “equal weight” rating and a $17.50 price objective on the stock. Robert W. Baird lowered their target price on Ramaco Resources from $40.00 to $30.00 and set an “outperform” rating on the stock in a research note on Friday, February 27th. The Goldman Sachs Group dropped their price target on Ramaco Resources from $16.00 to $14.00 and set a “sell” rating on the stock in a research report on Monday, March 2nd. Jefferies Financial Group raised Ramaco Resources from a “hold” rating to a “buy” rating and decreased their price objective for the stock from $33.00 to $30.00 in a report on Tuesday, January 20th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Ramaco Resources in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Ramaco Resources currently has an average rating of “Hold” and an average price target of $31.93.

Ramaco Resources Price Performance

The business’s 50-day moving average price is $18.57 and its 200 day moving average price is $23.59. The company has a market capitalization of $809.13 million, a P/E ratio of -14.63 and a beta of 1.41. The company has a quick ratio of 4.66, a current ratio of 5.46 and a debt-to-equity ratio of 0.95.

Ramaco Resources (NASDAQ:METC) last posted its earnings results on Wednesday, February 25th. The energy company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.02. Ramaco Resources had a negative net margin of 9.59% and a negative return on equity of 12.01%. The business had revenue of $108.72 million for the quarter, compared to analyst estimates of $143.48 million. During the same quarter in the prior year, the firm posted $0.02 EPS. Ramaco Resources’s revenue was down 25.1% on a year-over-year basis. Analysts anticipate that Ramaco Resources, Inc. will post 0.05 EPS for the current fiscal year.

Ramaco Resources announced that its board has initiated a stock buyback plan on Tuesday, December 23rd that allows the company to buyback $100.00 million in shares. This buyback authorization allows the energy company to buy up to 9.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Institutional Trading of Ramaco Resources

Institutional investors and hedge funds have recently modified their holdings of the business. Quarry LP purchased a new position in shares of Ramaco Resources during the fourth quarter worth about $27,000. Caitong International Asset Management Co. Ltd grew its stake in Ramaco Resources by 14,250.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,722 shares of the energy company’s stock worth $31,000 after buying an additional 1,710 shares in the last quarter. Archer Investment Corp purchased a new position in Ramaco Resources in the 3rd quarter worth approximately $33,000. Allworth Financial LP increased its holdings 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 worth $34,000 after buying an additional 1,009 shares during the last quarter. Finally, MCF Advisors LLC bought a new stake in shares of Ramaco Resources during the 3rd quarter worth $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.