Ramaco Resources (NASDAQ:METC) Reaches New 52-Week Low – What’s Next?

Ramaco Resources, Inc. (NASDAQ:METC) shares hit a new 52-week low during mid-day trading on Monday . The company traded as low as $9.05 and last traded at $9.05, with a volume of 19526 shares. The stock had previously closed at $9.17.

Analyst Ratings Changes

METC has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ramaco Resources in a research note on Thursday, June 18th. Morgan Stanley decreased their target price on shares of Ramaco Resources from $17.00 to $13.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 8th. The Goldman Sachs Group lowered their price target on shares of Ramaco Resources from $16.00 to $13.00 and set a “neutral” rating for the company in a report on Thursday, July 9th. Robert W. Baird dropped their price target on shares of Ramaco Resources from $30.00 to $25.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Finally, B. Riley Financial dropped 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 investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Ramaco Resources has an average rating of “Hold” and an average price target of $26.43.

Ramaco Resources Stock Performance

The company has a 50-day moving average price of $13.07 and a two-hundred day moving average price of $15.07. The company has a current ratio of 4.88, a quick ratio of 3.93 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $628.34 million, a P/E ratio of -8.76 and a beta of 1.37.

Ramaco Resources (NASDAQ:METC) last announced its quarterly earnings data on Wednesday, August 5th. 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 return on equity of 13.44% and a negative net margin of 11.52%.The company had revenue of $144.80 million for the quarter, compared to the consensus estimate of $133.11 million. On average, equities analysts forecast that Ramaco Resources, Inc. will post -0.58 earnings per share for the current year.

Hedge Funds Weigh In On Ramaco Resources

Several institutional investors have recently added to or reduced their stakes in the business. BankChampaign National Association bought a new position in shares of Ramaco Resources during the 1st quarter worth approximately $187,000. Royal Bank of Canada grew its position in shares of Ramaco Resources by 16.4% during the 1st quarter. Royal Bank of Canada now owns 81,583 shares of the energy company’s stock worth $1,262,000 after buying an additional 11,474 shares during the period. Cetera Investment Advisers increased its stake in shares of Ramaco Resources by 12.2% in the 1st quarter. Cetera Investment Advisers now owns 26,850 shares of the energy company’s stock valued at $415,000 after acquiring an additional 2,930 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Ramaco Resources by 38.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,435,059 shares of the energy company’s stock valued at $22,179,000 after acquiring an additional 398,626 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted 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 period. 74.49% of the stock is owned by institutional investors and hedge funds.

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.