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

Ramaco Resources, Inc. (NASDAQ:METC) reached a new 52-week low during trading on Monday. The stock traded as low as $7.74 and last traded at $7.9240, with a volume of 628,486 shares. The stock had previously closed at $7.83.

Wall Street Analyst Weigh In

METC has been the topic of a number of recent analyst reports. Wall Street Zen downgraded shares of Ramaco Resources from a “sell” rating to a “strong sell” rating in a research report on Sunday, October 4th. B. Riley Financial reaffirmed a “buy” rating on shares of Ramaco Resources in a research report on Tuesday, August 18th. The Goldman Sachs Group decreased their price objective on shares of 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 lowered their target price on shares of Ramaco Resources from $38.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Finally, Weiss Ratings lowered Ramaco Resources from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, August 6th. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Ramaco Resources currently has an average rating of “Hold” and a consensus price target of $22.43.

Ramaco Resources Stock Down 5.5%

The firm has a market cap of $457.66 million, a PE ratio of -6.75 and a beta of 1.64. 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 firm’s 50-day moving average price is $10.47 and its two-hundred day moving average price is $12.41.

Ramaco Resources (NASDAQ:METC) last posted its earnings results on Tuesday, August 4th. The energy company reported ($0.26) EPS for the quarter, meeting analysts’ consensus estimates of ($0.26). Ramaco Resources had a negative net margin of 11.98% and a negative return on equity of 13.54%. The firm had revenue of $122.32 million for the quarter, compared to the consensus estimate of $133.11 million. As a group, equities research analysts expect that Ramaco Resources, Inc. will post -0.97 EPS for the current fiscal year.

Insider Transactions at Ramaco Resources

In other Ramaco Resources news, major shareholder Discovery Capital Management, sold 500,000 shares of the company’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $9.57, for a total value of $4,785,000.00. Following the completion of the transaction, the insider owned 4,811,360 shares in the company, valued at $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 available at this hyperlink. 46.07% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ramaco Resources

A number of hedge funds have recently modified their holdings of METC. MidFirst Bank acquired a new stake in shares of Ramaco Resources during the fourth quarter worth about $54,000. Fifth Third Bancorp increased its position in Ramaco Resources by 1,274.6% in the 1st quarter. Fifth Third Bancorp now owns 6,873 shares of the energy company’s stock valued at $106,000 after acquiring an additional 6,373 shares during the period. Krilogy Financial LLC acquired a new position in Ramaco Resources in the 1st quarter valued at about $155,000. Bank of New York Mellon Corp purchased a new stake in Ramaco Resources during the 2nd quarter valued at approximately $102,000. Finally, BankChampaign National Association purchased a new stake in Ramaco Resources during the 1st quarter valued at approximately $187,000. 74.49% of the stock is currently owned by hedge funds and other institutional investors.

About Ramaco Resources

Ramaco Resources, Inc is a producer of metallurgical coal, which is used primarily in the manufacture of steel and metallurgical coke. The company develops and operates coal mining properties and sells its products to domestic and international steel, coke and industrial customers.

Ramaco’s operations and development properties are located in major U.S. coal-producing regions, including southern West Virginia, southwestern Virginia and Wyoming. Its portfolio has included the Elk Creek and Berwind mining complexes in West Virginia, the RAM No.