Ramaco Resources (NASDAQ:METC) Sets New 52-Week Low – What’s Next?

Shares of Ramaco Resources, Inc. (NASDAQ:METC – Get Free Report) hit a new 52-week low on Tuesday. The company traded as low as $8.51 and last traded at $8.5850, with a volume of 772516 shares trading hands. The stock had previously closed at $8.98.

Analysts Set New Price Targets

METC has been the subject of a number of recent research reports. The Goldman Sachs Group reduced their target price on shares of Ramaco Resources from $13.00 to $11.00 and set a “neutral” rating for the company in a report on Thursday, August 6th. Weiss Ratings cut shares of Ramaco Resources from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, August 6th. 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 reiterated a “neutral” rating and set a $13.00 price objective on shares of Ramaco Resources in a research note on Tuesday, August 18th. Finally, Benchmark decreased 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 report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $22.43.

Get Our Latest Stock Analysis on Ramaco Resources

Ramaco Resources Stock Down 5.7%

The company has a 50-day moving average of $11.08 and a 200-day moving average of $13.12. The company has a current ratio of 4.23, a quick ratio of 3.31 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $536.91 million, a price-to-earnings ratio of -7.98 and a beta of 1.39.

Ramaco Resources (NASDAQ:METC – Get Free Report) last released its 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 net margin of 11.98% and a negative return on equity of 13.54%. On average, equities analysts predict that Ramaco Resources, Inc. will post -1.02 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Ramaco Resources news, major shareholder Discovery Capital Management, sold 500,000 shares of the stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $9.57, for a total transaction of $4,785,000.00. Following the transaction, the insider owned 4,811,360 shares in the company, valued at approximately $46,044,715.20. This represents a 9.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 46.07% of the company’s stock.

Hedge Funds Weigh In On Ramaco Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp raised its position in shares of Ramaco Resources by 6.7% during the 2nd quarter. State Street Corp now owns 3,059,847 shares of the energy company’s stock worth $40,482,000 after purchasing an additional 192,663 shares during the last quarter. Gratia Capital LLC purchased a new stake in Ramaco Resources during the 2nd quarter worth approximately $1,826,000. AlphaGrep UK Ltd raised its holdings in shares of Ramaco Resources by 19.5% during the second quarter. AlphaGrep UK Ltd now owns 18,620 shares of the energy company’s stock valued at $246,000 after acquiring an additional 3,044 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Ramaco Resources by 8.4% in the second quarter. Van ECK Associates Corp now owns 38,894 shares of the energy company’s stock valued at $515,000 after acquiring an additional 3,028 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its position in shares of Ramaco Resources by 134.7% in the second quarter. Hsbc Holdings PLC now owns 29,899 shares of the energy company’s stock valued at $388,000 after acquiring an additional 17,158 shares in the last quarter. 74.49% of the stock is owned by hedge funds and other institutional investors.

About Ramaco Resources

(Get Free Report)

Ramaco Resources, Inc is a metallurgical coal producer headquartered in Lexington, Kentucky. The company develops, operates and sells metallurgical coal used primarily in the production of steel. Its products include various grades of high-quality metallurgical coal, including high-volatility and low-volatility products, as well as coal suitable for pulverized coal injection applications.

Ramaco operates mining complexes in Central Appalachia, including properties in West Virginia and Virginia.

See Also

Receive News & Ratings for Ramaco Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ramaco Resources and related companies with MarketBeat.com's FREE daily email newsletter.