Ramaco Resources (NASDAQ:METC) Trading 7.1% Higher – What’s Next?

Ramaco Resources, Inc. (NASDAQ:METC)’s share price was up 7.1% during mid-day trading on Tuesday . The company traded as high as $9.82 and last traded at $10.0360. 708,201 shares changed hands during trading, a decline of 66% from the average daily volume of 2,068,992 shares. The stock had previously closed at $9.37.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on METC shares. Wall Street Zen lowered Ramaco Resources from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 22nd. Weiss Ratings lowered shares of Ramaco Resources from a “sell (d)” rating to a “sell (d-)” rating in a research report on Thursday, August 6th. Zacks Research cut shares of Ramaco Resources from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. Robert W. Baird restated a “neutral” rating and set a $13.00 price objective on shares of Ramaco Resources in a research report on Tuesday, August 18th. Finally, Morgan Stanley lowered their target price on shares of Ramaco Resources from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $22.43.

Ramaco Resources Trading Up 8.7%

The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.31 and a current ratio of 4.23. The company has a market capitalization of $645.37 million, a PE ratio of -9.41 and a beta of 1.39. The stock has a fifty day moving average of $11.38 and a 200 day moving average of $13.31.

Ramaco Resources (NASDAQ:METC) last announced its quarterly earnings data on Tuesday, August 4th. The energy company reported ($0.26) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.26). Ramaco Resources had a negative net margin of 11.98% and a negative return on equity of 13.54%. The business had revenue of $122.32 million during the quarter, compared to analyst estimates of $133.11 million. As a group, sell-side analysts predict that Ramaco Resources, Inc. will post -1.02 earnings per share for the current fiscal year.

Insider Transactions at Ramaco Resources

In other Ramaco Resources news, major shareholder Discovery Capital Management, sold 500,000 shares of Ramaco Resources stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $9.57, for a total value of $4,785,000.00. Following the sale, the insider directly owned 4,811,360 shares in the company, valued at approximately $46,044,715.20. The trade was a 9.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 46.07% of the company’s stock.

Institutional Investors Weigh In On Ramaco Resources

Large investors have recently made changes to their positions in the company. Gratia Capital LLC purchased a new position in shares of Ramaco Resources in the second quarter valued at $1,826,000. AlphaGrep UK Ltd raised its stake in 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 purchasing an additional 3,044 shares in the last quarter. Van ECK Associates Corp raised its stake 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 in the last quarter. Hsbc Holdings PLC lifted its position in Ramaco Resources by 134.7% during the second quarter. Hsbc Holdings PLC now owns 29,899 shares of the energy company’s stock valued at $388,000 after purchasing an additional 17,158 shares during the last quarter. Finally, Jupiter Topco LLC bought a new position in Ramaco Resources during the second quarter valued at $195,000. 74.49% of the stock is owned by institutional investors.

Ramaco Resources Company Profile

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.