Ramaco Resources, Inc. (NASDAQ:METC – Get Free Report)’s stock price hit a new 52-week low on Monday. The company traded as low as $7.74 and last traded at $7.9240, with a volume of 628,486 shares changing hands. The stock had previously closed at $7.83.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on METC shares. Weiss Ratings lowered shares of Ramaco Resources from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday, August 6th. Zacks Research downgraded Ramaco Resources from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. Robert W. Baird reaffirmed a “neutral” rating and set a $13.00 target price on shares of Ramaco Resources in a report on Tuesday, August 18th. The Goldman Sachs Group dropped their price target on Ramaco Resources from $13.00 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday, August 6th. Finally, Benchmark cut their price target on Ramaco Resources from $38.00 to $26.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Ramaco Resources presently has an average rating of “Hold” and an average price target of $22.43.
View Our Latest Research Report on Ramaco Resources
Ramaco Resources Trading Up 0.2%
The stock has a market capitalization of $497.29 million, a P/E ratio of -7.33 and a beta of 1.64. The company has a quick ratio of 3.31, a current ratio of 4.23 and a debt-to-equity ratio of 1.23. The firm’s 50-day simple moving average is $10.58 and its 200 day simple moving average is $12.52.
Ramaco Resources (NASDAQ:METC – Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The energy company reported ($0.26) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.26). Ramaco Resources had a negative return on equity of 13.54% and a negative net margin of 11.98%. The company had revenue of $122.32 million for the quarter, compared to analysts’ expectations of $133.11 million. Equities research analysts anticipate that Ramaco Resources, Inc. will post -0.97 EPS for the current fiscal year.
Insider Activity
In other news, major shareholder Discovery Capital Management, sold 500,000 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $9.57, for a total transaction of $4,785,000.00. Following the sale, the insider owned 4,811,360 shares in the company, valued at $46,044,715.20. The trade was a 9.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 46.07% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the business. Cetera Investment Advisers increased its holdings in shares of Ramaco Resources by 12.2% in the 1st quarter. Cetera Investment Advisers now owns 26,850 shares of the energy company’s stock valued at $415,000 after purchasing an additional 2,930 shares during the period. MidFirst Bank bought a new stake in shares of Ramaco Resources during the 4th quarter worth about $54,000. Van ECK Associates Corp grew its holdings in Ramaco Resources by 8.4% during the second quarter. Van ECK Associates Corp now owns 38,894 shares of the energy company’s stock valued at $515,000 after purchasing an additional 3,028 shares during the last quarter. AlphaGrep UK Ltd boosted its holdings in shares of Ramaco Resources by 19.5% during the 2nd quarter. AlphaGrep UK Ltd now owns 18,620 shares of the energy company’s stock worth $246,000 after buying an additional 3,044 shares during the period. Finally, Kestra Advisory Services LLC grew its stake in Ramaco Resources by 21.9% in the 1st quarter. Kestra Advisory Services LLC now owns 17,146 shares of the energy company’s stock valued at $265,000 after buying an additional 3,083 shares during the last quarter. Hedge funds and other institutional investors own 74.49% of the company’s stock.
Ramaco Resources Company Profile
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.
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