Ramaco Resources (NASDAQ:METC) Trading 6.2% Higher – Should You Buy?

Ramaco Resources, Inc. (NASDAQ:METC)’s stock price traded up 6.2% during mid-day trading on Tuesday . The company traded as high as $15.78 and last traded at $16.1050. 740,235 shares changed hands during trading, a decline of 67% from the average session volume of 2,236,802 shares. The stock had previously closed at $15.17.

Analysts Set New Price Targets

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

Ramaco Resources Stock Performance

The company has a current ratio of 5.46, a quick ratio of 4.66 and a debt-to-equity ratio of 0.95. The company has a market cap of $1.07 billion, a P/E ratio of -16.12 and a beta of 1.31. The business’s 50 day simple moving average is $14.58 and its 200 day simple moving average is $18.19.

Ramaco Resources (NASDAQ:METC) last announced its quarterly earnings data on Monday, May 11th. The energy company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.08). The firm had revenue of $101.41 million during the quarter, compared to analysts’ expectations of $129.72 million. Ramaco Resources had a negative return on equity of 12.01% and a negative net margin of 9.59%.The business’s revenue for the quarter was down 9.7% on a year-over-year basis. During the same period last year, the company earned ($0.20) earnings per share. Sell-side analysts predict that Ramaco Resources, Inc. will post -0.04 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Discovery Capital Management, sold 200,000 shares of the company’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $14.79, for a total transaction of $2,958,000.00. Following the completion of the transaction, the insider owned 5,311,360 shares in the company, valued at approximately $78,555,014.40. This represents a 3.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 36.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its holdings in shares of Ramaco Resources by 38.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,435,059 shares of the energy company’s stock worth $22,179,000 after purchasing an additional 398,626 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Ramaco Resources by 8.1% during the 1st quarter. Bank of New York Mellon Corp now owns 108,724 shares of the energy company’s stock valued at $1,681,000 after acquiring an additional 8,114 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of Ramaco Resources by 1,274.6% during 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 last quarter. Hsbc Holdings PLC purchased a new position in shares of Ramaco Resources in the first quarter valued at $197,000. Finally, Kestra Advisory Services LLC increased its position in Ramaco Resources by 21.9% in the first quarter. Kestra Advisory Services LLC now owns 17,146 shares of the energy company’s stock worth $265,000 after purchasing an additional 3,083 shares during the last quarter. Institutional investors 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.