Ramaco Resources (NASDAQ:METC) Hits New 52-Week Low – Time to Sell?

Ramaco Resources, Inc. (NASDAQ:METC) shares hit a new 52-week low on Monday . The company traded as low as $10.01 and last traded at $10.09, with a volume of 283427 shares traded. The stock had previously closed at $10.35.

Wall Street Analyst Weigh In

METC has been the topic of several analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ramaco Resources in a research report on Thursday, June 18th. Zacks Research downgraded shares of Ramaco Resources from a “hold” rating to a “strong sell” rating in a research report on Friday, July 17th. Robert W. Baird lowered their price objective on shares of Ramaco Resources from $30.00 to $25.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. B. Riley Financial dropped their target price on shares of Ramaco Resources from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Wednesday, May 13th. Finally, Morgan Stanley cut their target price on shares of Ramaco Resources from $17.00 to $13.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Ramaco Resources currently has an average rating of “Hold” and a consensus price target of $26.43.

Ramaco Resources Price Performance

The company has a current ratio of 4.88, a quick ratio of 3.93 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $661.25 million, a P/E ratio of -9.22 and a beta of 1.35. The company has a 50 day moving average price of $13.68 and a 200 day moving average price of $15.62.

Ramaco Resources (NASDAQ:METC) last posted its quarterly earnings results on Monday, May 11th. The energy company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $101.41 million during the quarter, compared to the consensus estimate of $129.72 million. During the same quarter last year, the company posted ($0.20) EPS. The firm’s revenue was down 9.7% on a year-over-year basis. On average, equities analysts predict that Ramaco Resources, Inc. will post -0.58 EPS for the current fiscal year.

Insider Activity at Ramaco Resources

In other news, major shareholder Discovery Capital Management, sold 200,000 shares of the stock in a transaction dated 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 transaction, the insider directly owned 5,311,360 shares of the company’s stock, valued at $78,555,014.40. This represents a 3.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 46.07% of the stock is currently owned by corporate insiders.

Institutional Trading of Ramaco Resources

Hedge funds and other institutional investors have recently modified their holdings of the stock. Allworth Financial LP grew its stake in 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 buying an additional 1,009 shares during the last quarter. Advisory Services Network LLC bought a new stake in shares of Ramaco Resources during the third quarter worth approximately $38,000. Quarry LP acquired a new position in shares of Ramaco Resources in the fourth quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd grew its position in shares of Ramaco Resources by 14,250.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,722 shares of the energy company’s stock valued at $31,000 after purchasing an additional 1,710 shares during the last quarter. Finally, Spirit of America Management Corp NY acquired a new position in shares of Ramaco Resources in the fourth quarter valued at approximately $38,000. Institutional investors own 74.49% of the company’s stock.

About Ramaco Resources

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.