Ramaco Resources (NASDAQ:METC) Stock Moved Down to “Strong Sell” by Wall Street Zen

Wall Street Zen lowered shares of Ramaco Resources (NASDAQ:METC) from a sell rating to a strong sell rating in a research note issued to investors on Sunday morning,Wall Street Zen reports.

Several other equities research analysts also recently issued reports on METC. The Goldman Sachs Group dropped their target price 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. Benchmark reduced their price target on Ramaco Resources from $38.00 to $26.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. 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. B. Riley Financial reissued a “buy” rating on shares of Ramaco Resources in a report on Tuesday, August 18th. Finally, Morgan Stanley reduced their target price on Ramaco Resources from $13.00 to $11.00 and set an “equal weight” rating for the company in a report on Tuesday, August 18th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Ramaco Resources currently has a consensus rating of “Hold” and a consensus price target of $22.43.

Ramaco Resources Stock Performance

Shares of Ramaco Resources stock opened at $8.10 on Friday. The stock has a market capitalization of $513.46 million, a P/E ratio of -7.57 and a beta of 1.64. 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 stock’s 50-day simple moving average is $10.82 and its 200 day simple moving average is $12.93. Ramaco Resources has a 52-week low of $7.87 and a 52-week high of $57.80.

Ramaco Resources (NASDAQ:METC) 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). The company had revenue of $122.32 million for the quarter, compared to analyst estimates of $133.11 million. Ramaco Resources had a negative net margin of 11.98% and a negative return on equity of 13.54%. As a group, research analysts anticipate that Ramaco Resources will post -1.02 EPS for the current year.

Insider Activity at Ramaco Resources

In other news, major shareholder Discovery Capital Management, sold 500,000 shares of the company’s 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 transaction, the insider owned 4,811,360 shares of the company’s stock, valued at approximately $46,044,715.20. This represents a 9.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 46.07% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ramaco Resources

A number of institutional investors and hedge funds have recently made changes to their positions in METC. Gratia Capital LLC purchased a new stake in shares of Ramaco Resources in the 2nd quarter valued at about $1,826,000. Dimensional Fund Advisors LP grew its holdings in shares of Ramaco Resources by 38.5% during 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 in the last quarter. State Street Corp grew its holdings in shares of Ramaco Resources by 6.7% during the second 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 in the last quarter. Bank of New York Mellon Corp bought a new position in shares of Ramaco Resources in the second quarter worth approximately $1,486,000. Finally, Quantbot Technologies LP increased its position in shares of Ramaco Resources by 54.1% in the second quarter. Quantbot Technologies LP now owns 127,404 shares of the energy company’s stock worth $1,686,000 after purchasing an additional 44,710 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.