Ramaco Resources (NASDAQ:METC) Stock Price Down 5.9% – Time to Sell?

Ramaco Resources, Inc. (NASDAQ:METC)’s stock price fell 5.9% during mid-day trading on Wednesday . The stock traded as low as $12.05 and last traded at $12.16. 605,838 shares were traded during mid-day trading, a decline of 70% from the average session volume of 2,042,425 shares. The stock had previously closed at $12.92.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on METC shares. B. Riley Financial restated a “buy” rating on shares of Ramaco Resources in a research note on Tuesday, August 18th. Weiss Ratings cut Ramaco Resources from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday, August 6th. The Goldman Sachs Group lowered their price objective on Ramaco Resources from $13.00 to $11.00 and set a “neutral” rating for the company in a research report on Thursday, August 6th. Benchmark dropped their target price on shares of Ramaco Resources from $38.00 to $26.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Finally, Zacks Research downgraded shares of Ramaco Resources from a “hold” rating to a “strong sell” rating in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $22.43.

Ramaco Resources Stock Performance

The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.31 and a current ratio of 4.23. The business has a 50-day moving average price of $11.70 and a 200 day moving average price of $13.87. The stock has a market capitalization of $881.75 million, a P/E ratio of -13.00 and a beta of 1.37.

Ramaco Resources (NASDAQ:METC) last posted its quarterly earnings results on Tuesday, August 4th. The energy company reported ($0.26) earnings per share for the quarter, hitting the consensus estimate of ($0.26). The company had revenue of $122.32 million for the quarter, compared to the consensus estimate of $133.11 million. Ramaco Resources had a negative return on equity of 13.54% and a negative net margin of 11.98%. As a group, sell-side analysts forecast that Ramaco Resources, Inc. will post -1.02 EPS for the current fiscal year.

Insider Activity at Ramaco Resources

In other news, major shareholder Discovery Capital Management, sold 500,000 shares of the stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $9.57, for a total value of $4,785,000.00. Following the sale, the insider directly owned 4,811,360 shares of the company’s stock, valued at approximately $46,044,715.20. This represents a 9.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 46.07% of the company’s stock.

Hedge Funds Weigh In On Ramaco Resources

Large investors have recently modified their holdings of the stock. Texas Yale Capital Corp. grew its position in Ramaco Resources by 331.9% during the 4th quarter. Texas Yale Capital Corp. now owns 142,488 shares of the energy company’s stock valued at $2,565,000 after purchasing an additional 109,500 shares during the last quarter. Dimensional Fund Advisors LP raised 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 buying an additional 398,626 shares during the last quarter. Mizuho Markets Americas LLC bought a new position in shares of Ramaco Resources in the fourth quarter worth approximately $2,309,000. Quantbot Technologies LP lifted its stake in shares of Ramaco Resources by 54.1% in the second quarter. Quantbot Technologies LP now owns 127,404 shares of the energy company’s stock worth $1,686,000 after buying an additional 44,710 shares in the last quarter. Finally, Hsbc Holdings PLC purchased a new stake in shares of Ramaco Resources during the first quarter valued at approximately $197,000. 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.