Wall Street Zen Downgrades Ramaco Resources (NASDAQ:METC) to Sell

Ramaco Resources (NASDAQ:METC) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

Several other analysts have also issued reports on METC. B. Riley decreased their price target on shares of Ramaco Resources from $18.00 to $14.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. Benchmark cut their price target on shares of Ramaco Resources from $18.00 to $14.00 and set a “buy” rating for the company in a report on Tuesday, May 13th.

Ramaco Resources Stock Performance

METC opened at $9.07 on Thursday. The business has a fifty day simple moving average of $8.96 and a 200-day simple moving average of $10.02. The firm has a market cap of $496.17 million, a PE ratio of 13.95 and a beta of 1.28. Ramaco Resources has a fifty-two week low of $6.30 and a fifty-two week high of $15.49. The company has a quick ratio of 0.86, a current ratio of 1.35 and a debt-to-equity ratio of 0.23.

Ramaco Resources (NASDAQ:METC) last posted its quarterly earnings results on Monday, May 12th. The energy company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.10. Ramaco Resources had a net margin of 5.35% and a return on equity of 10.17%. The business had revenue of $115.61 million for the quarter, compared to the consensus estimate of $137.10 million. During the same period in the prior year, the business posted $0.23 earnings per share. Ramaco Resources’s revenue for the quarter was down 22.0% compared to the same quarter last year. As a group, equities analysts predict that Ramaco Resources will post 0.05 EPS for the current fiscal year.

Insider Transactions at Ramaco Resources

In other Ramaco Resources news, major shareholder Yorktown Energy Partners Xi, L sold 83,871 shares of the firm’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of $8.61, for a total transaction of $722,129.31. Following the transaction, the insider now owns 1,059,909 shares in the company, valued at $9,125,816.49. This trade represents a 7.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Yorktown Xi Associates Llc sold 89,501 shares of the firm’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $8.09, for a total value of $724,063.09. Following the completion of the sale, the insider now directly owns 1,024,870 shares in the company, valued at $8,291,198.30. This trade represents a 8.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 922,582 shares of company stock worth $7,898,023 in the last 90 days. Corporate insiders own 36.20% of the company’s stock.

Institutional Investors Weigh In On Ramaco Resources

Several large investors have recently added to or reduced their stakes in METC. Brooklyn Investment Group bought a new stake in shares of Ramaco Resources during the first quarter worth about $25,000. AlphaQuest LLC purchased a new position in shares of Ramaco Resources during the 4th quarter valued at $50,000. Campbell Capital Management Inc. bought a new position in Ramaco Resources during the fourth quarter worth about $51,000. Jones Financial Companies Lllp purchased a new position in Ramaco Resources in the 4th quarter valued at approximately $56,000. Finally, State of Wyoming purchased a new position in shares of Ramaco Resources in the first quarter valued at $50,000. Institutional investors and hedge funds own 74.49% of the company’s stock.

About Ramaco Resources

Ramaco Resources, Inc engages in the development, operation, and sale of metallurgical coal. Its development portfolio includes the Elk Creek project that covers an area of approximately 20,200 acres located in southern West Virginia; the Berwind property covering an area of approximately 62,500 acres situated on the border of West Virginia and Virginia; the Knox Creek property, which covers an area of approximately 64,050 acres is located in Virginia; the Maben property covering an area of approximately 28,000 acres situated in southwestern Pennsylvania southern West Virginia; and the Brook Mine property that covers an area of approximately 16,000 acres located in northeastern Wyoming.