Short Interest in Ramaco Resources, Inc. (NASDAQ:METC) Declines By 20.2%

Ramaco Resources, Inc. (NASDAQ:METC) was the target of a significant decrease in short interest during the month of December. As of December 31st, there was short interest totaling 11,752,697 shares, a decrease of 20.2% from the December 15th total of 14,729,518 shares. Currently, 27.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 3,047,156 shares, the short-interest ratio is presently 3.9 days. Based on an average daily trading volume, of 3,047,156 shares, the short-interest ratio is presently 3.9 days. Currently, 27.9% of the shares of the stock are short sold.

Ramaco Resources Stock Down 3.0%

Shares of NASDAQ METC opened at $20.89 on Friday. The company has a 50 day simple moving average of $18.18 and a 200-day simple moving average of $24.30. The company has a market capitalization of $1.38 billion, a P/E ratio of -31.18 and a beta of 1.44. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.97 and a quick ratio of 2.24. Ramaco Resources has a 1 year low of $6.30 and a 1 year high of $57.80.

Ramaco Resources (NASDAQ:METC) last issued its quarterly earnings data on Monday, October 27th. The energy company reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.05. The company had revenue of $104.87 million during the quarter, compared to analyst estimates of $137.63 million. Ramaco Resources had a negative return on equity of 8.26% and a negative net margin of 5.67%.The firm’s revenue for the quarter was down 27.7% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.03) earnings per share. On average, equities research analysts predict that Ramaco Resources will post 0.05 earnings per share for the current year.

Ramaco Resources declared that its board has authorized a share repurchase program on Tuesday, December 23rd that allows the company to buyback $100.00 million in shares. This buyback authorization allows the energy company to purchase up to 9.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on METC shares. Morgan Stanley initiated coverage on shares of Ramaco Resources in a research note on Friday, December 5th. They set an “equal weight” rating and a $17.50 price objective for the company. Weiss Ratings restated a “sell (d+)” rating on shares of Ramaco Resources in a report on Monday, December 29th. B. Riley upped their price target on Ramaco Resources from $14.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Northland Capmk upgraded Ramaco Resources to a “strong-buy” rating in a research report on Wednesday, October 8th. Finally, Zacks Research raised Ramaco Resources from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Ramaco Resources has a consensus rating of “Moderate Buy” and a consensus target price of $34.50.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Bridgeway Capital Management LLC lifted its holdings in Ramaco Resources by 0.4% during the 3rd quarter. Bridgeway Capital Management LLC now owns 122,998 shares of the energy company’s stock worth $4,082,000 after buying an additional 536 shares in the last quarter. AlphaQuest LLC raised its stake in shares of Ramaco Resources by 12.6% in the third quarter. AlphaQuest LLC now owns 5,460 shares of the energy company’s stock valued at $181,000 after acquiring an additional 610 shares in the last quarter. Archer Investment Corp purchased a new position in Ramaco Resources in the third quarter valued at $33,000. Allworth Financial LP boosted its holdings in Ramaco Resources by 3,603.6% in the third quarter. Allworth Financial LP now owns 1,037 shares of the energy company’s stock valued at $34,000 after purchasing an additional 1,009 shares during the period. Finally, MCF Advisors LLC acquired a new position in Ramaco Resources during the 3rd quarter worth $35,000. Institutional investors and hedge funds 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.