Ramaco Resources (NASDAQ:METC) Shares Cross Below Fifty Day Moving Average – Here’s Why

Shares of Ramaco Resources, Inc. (NASDAQ:METC) passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $14.76 and traded as low as $14.43. Ramaco Resources shares last traded at $14.85, with a volume of 1,024,912 shares changing hands.

Analyst Ratings Changes

A number of brokerages have recently issued reports on METC. Zacks Research raised shares of Ramaco Resources from a “strong sell” rating to a “hold” rating in a report on Friday, April 10th. The Goldman Sachs Group raised shares of Ramaco Resources from a “sell” rating to a “neutral” rating and upped their target price for the company from $14.00 to $15.00 in a report on Tuesday, April 21st. Robert W. Baird decreased their price target on shares of Ramaco Resources from $40.00 to $30.00 and set an “outperform” rating on the stock in a research note on Friday, February 27th. Morgan Stanley decreased their price target on shares of Ramaco Resources from $17.50 to $17.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 9th. Finally, Jefferies Financial Group upgraded shares of Ramaco Resources from a “hold” rating to a “buy” rating and decreased their price target for the company from $33.00 to $30.00 in a research note on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Ramaco Resources currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.00.

Ramaco Resources Stock Performance

The firm has a market cap of $996.73 million, a price-to-earnings ratio of -15.00 and a beta of 1.43. The stock’s 50 day moving average is $14.76 and its 200 day moving average is $19.77. The company has a current ratio of 5.46, a quick ratio of 4.66 and a debt-to-equity ratio of 0.95.

Ramaco Resources (NASDAQ:METC) last announced its quarterly earnings results on Wednesday, February 25th. The energy company reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.02. Ramaco Resources had a negative net margin of 9.59% and a negative return on equity of 12.01%. The business had revenue of $108.72 million for the quarter, compared to analyst estimates of $143.48 million. During the same quarter in the prior year, the business earned $0.02 EPS. Ramaco Resources’s quarterly revenue was down 25.1% on a year-over-year basis. Analysts anticipate that Ramaco Resources, Inc. will post -0.04 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Lunt Capital Management Inc. grew its position in shares of Ramaco Resources by 801.3% during the 4th quarter. Lunt Capital Management Inc. now owns 557,899 shares of the energy company’s stock worth $10,042,000 after purchasing an additional 495,999 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Ramaco Resources by 40.0% during the 3rd quarter. Vanguard Group Inc. now owns 2,335,257 shares of the energy company’s stock worth $77,507,000 after purchasing an additional 667,199 shares in the last quarter. Ghisallo Capital Management LLC acquired a new position in shares of Ramaco Resources during the 3rd quarter worth approximately $9,957,000. Benjamin Edwards Inc. acquired a new position in shares of Ramaco Resources during the 3rd quarter worth approximately $899,000. Finally, Cinctive Capital Management LP acquired a new position in shares of Ramaco Resources during the 3rd quarter worth approximately $2,707,000. 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.