Ramaco Resources (NASDAQ:METC) Sets New 12-Month Low – Should You Sell?

Ramaco Resources, Inc. (NASDAQ:METC) shares hit a new 52-week low on Tuesday . The company traded as low as $11.55 and last traded at $11.4950, with a volume of 640906 shares changing hands. The stock had previously closed at $12.44.

Analyst Upgrades and Downgrades

METC has been the subject of several research reports. Weiss Ratings restated a “sell (d)” rating on shares of Ramaco Resources in a report on Thursday, June 18th. The Goldman Sachs Group upgraded shares of Ramaco Resources from a “sell” rating to a “neutral” rating and upped their price objective for the company from $14.00 to $15.00 in a research note on Tuesday, April 21st. B. Riley Financial cut their target price on shares of Ramaco Resources from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, May 13th. Morgan Stanley decreased their target price on shares of Ramaco Resources from $17.50 to $17.00 and set an “equal weight” rating for the company in a research note on Thursday, April 9th. Finally, Robert W. Baird lowered their price target on shares of Ramaco Resources from $30.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.29.

Ramaco Resources Price Performance

The stock has a 50 day moving average price of $14.49 and a two-hundred day moving average price of $16.12. The company has a debt-to-equity ratio of 1.06, a quick ratio of 3.93 and a current ratio of 4.88. The company has a market capitalization of $767.82 million, a PE ratio of -10.72 and a beta of 1.35.

Ramaco Resources (NASDAQ:METC) last announced its quarterly earnings results on Monday, May 11th. The energy company reported ($0.30) 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 firm had revenue of $101.41 million during the quarter, compared to the consensus estimate of $129.72 million. During the same period in the previous year, the firm posted ($0.20) EPS. The company’s quarterly revenue was down 9.7% compared to the same quarter last year. Equities analysts forecast that Ramaco Resources, Inc. will post -0.27 earnings per share for the current year.

Insider Buying and Selling

In other Ramaco Resources news, major shareholder Discovery Capital Management, sold 200,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the insider directly owned 5,311,360 shares of the company’s stock, valued at $78,555,014.40. The trade was a 3.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 46.07% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ramaco Resources

Several institutional investors and hedge funds have recently modified their holdings of the business. Bridgeway Capital Management LLC boosted its holdings 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 in the last quarter. Allworth Financial LP raised its holdings in 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 in the last quarter. Advisory Services Network LLC acquired a new stake in shares of Ramaco Resources in the third quarter worth about $38,000. Police & Firemen s Retirement System of New Jersey lifted its position in shares of Ramaco Resources by 16.0% in the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 9,549 shares of the energy company’s stock worth $172,000 after buying an additional 1,317 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of Ramaco Resources by 51.4% during the 4th quarter. Russell Investments Group Ltd. now owns 3,917 shares of the energy company’s stock worth $71,000 after acquiring an additional 1,330 shares in the last quarter. Institutional investors and hedge funds 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.