Investors Buy High Volume of Call Options on Ramaco Resources (NASDAQ:METC)

Ramaco Resources, Inc. (NASDAQ:METC) was the target of some unusual options trading activity on Tuesday. Investors acquired 25,377 call options on the company. This is an increase of 665% compared to the average volume of 3,319 call options.

Ramaco Resources Trading Down 2.4%

Ramaco Resources stock traded down $0.33 during mid-day trading on Tuesday, hitting $13.09. The company’s stock had a trading volume of 1,625,383 shares, compared to its average volume of 2,104,807. The business has a 50 day moving average price of $14.74 and a 200-day moving average price of $16.37. The company has a debt-to-equity ratio of 1.06, a current ratio of 4.88 and a quick ratio of 3.93. Ramaco Resources has a 12 month low of $9.75 and a 12 month high of $57.80. The stock has a market cap of $852.81 million, a price-to-earnings ratio of -11.91 and a beta of 1.31.

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 company had revenue of $101.41 million for the quarter, compared to the consensus estimate of $129.72 million. Ramaco Resources had a negative net margin of 11.52% and a negative return on equity of 13.44%. The firm’s quarterly revenue was down 9.7% compared to the same quarter last year. During the same period last year, the business posted ($0.20) earnings per share. As a group, analysts forecast that Ramaco Resources will post -0.27 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Weiss Ratings reissued a “sell (d)” rating on shares of Ramaco Resources in a research note on Thursday. Robert W. Baird reduced their price objective on Ramaco Resources from $30.00 to $25.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Morgan Stanley dropped their target price on Ramaco Resources from $17.50 to $17.00 and set an “equal weight” rating for the company in a research report on Thursday, April 9th. The Goldman Sachs Group raised Ramaco Resources from a “sell” rating to a “neutral” rating and upped their target price for the stock from $14.00 to $15.00 in a research note on Tuesday, April 21st. Finally, B. Riley Financial reduced their price target on shares of Ramaco Resources from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Ramaco Resources has a consensus rating of “Moderate Buy” and a consensus target price of $27.29.

Insider Buying and Selling

In other Ramaco Resources news, Director Peter A. Leidel sold 6,081 shares of Ramaco Resources stock in a transaction that occurred on Monday, March 30th. The shares were sold at an average price of $10.34, for a total transaction of $62,877.54. Following the completion of the sale, the director directly owned 814,793 shares in the company, valued at $8,424,959.62. The trade was a 0.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Discovery Capital Management, sold 200,000 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was 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 directly owned 5,311,360 shares of the company’s stock, valued at approximately $78,555,014.40. This represents a 3.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 624,192 shares of company stock worth $9,006,956 over the last ninety days. 46.07% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ramaco Resources

Several institutional investors have recently bought and sold shares of the stock. Quarry LP bought a new position in Ramaco Resources during the 4th quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd lifted its position in Ramaco Resources by 14,250.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,722 shares of the energy company’s stock valued at $31,000 after purchasing an additional 1,710 shares during the last quarter. Allworth Financial LP boosted its stake in shares of Ramaco Resources by 3,603.6% during the third quarter. Allworth Financial LP now owns 1,037 shares of the energy company’s stock valued at $34,000 after purchasing an additional 1,009 shares during the period. Spirit of America Management Corp NY purchased a new stake in shares of Ramaco Resources during the fourth quarter valued at approximately $38,000. Finally, Advisory Services Network LLC bought a new position in shares of Ramaco Resources in the third quarter worth approximately $38,000. 74.49% of the stock is currently owned by hedge funds and other institutional investors.

Ramaco Resources Company Profile

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.