Ramaco Resources (NASDAQ:METC) Shares Down 5.9% – Time to Sell?

Ramaco Resources, Inc. (NASDAQ:METC)’s share price was down 5.9% during trading on Wednesday . The company traded as low as $12.05 and last traded at $12.16. 605,838 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 2,042,425 shares. The stock had previously closed at $12.92.

Analyst Ratings Changes

METC has been the subject of a number of research analyst reports. Wall Street Zen downgraded shares of Ramaco Resources from a “sell” rating to a “strong sell” rating in a research report on Saturday. Morgan Stanley decreased their price objective on shares of Ramaco Resources from $13.00 to $11.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 18th. The Goldman Sachs Group cut their target price on shares of Ramaco Resources from $13.00 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday, August 6th. Weiss Ratings lowered shares of Ramaco Resources from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, August 6th. Finally, Benchmark decreased their price target on shares of Ramaco Resources from $38.00 to $26.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $22.43.

Ramaco Resources Stock Down 6.7%

The stock has a market capitalization of $764.36 million, a price-to-earnings ratio of -11.27 and a beta of 1.37. The firm has a 50-day moving average of $11.74 and a 200 day moving average of $13.93. The company has a current ratio of 4.23, a quick ratio of 3.31 and a debt-to-equity ratio of 1.23.

Ramaco Resources (NASDAQ:METC) last posted 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 company had revenue of $122.32 million for the quarter, compared to analyst estimates of $133.11 million. On average, sell-side analysts anticipate that Ramaco Resources, Inc. will post -1.02 earnings per share for the current year.

Insider Transactions at Ramaco Resources

In other Ramaco Resources news, major shareholder Discovery Capital Management, sold 500,000 shares of the business’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 in the company, valued at $46,044,715.20. The trade was a 9.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 46.07% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. California State Teachers Retirement System raised its position in shares of Ramaco Resources by 1,370.4% in the 2nd quarter. California State Teachers Retirement System now owns 527,387 shares of the energy company’s stock valued at $6,977,000 after purchasing an additional 491,521 shares in the last quarter. AlphaGrep UK Ltd boosted its stake in Ramaco Resources by 19.5% during the 2nd quarter. AlphaGrep UK Ltd now owns 18,620 shares of the energy company’s stock valued at $246,000 after acquiring an additional 3,044 shares during the last quarter. Van ECK Associates Corp grew its holdings in Ramaco Resources by 8.4% during the 2nd quarter. Van ECK Associates Corp now owns 38,894 shares of the energy company’s stock worth $515,000 after acquiring an additional 3,028 shares in the last quarter. Hsbc Holdings PLC increased its position in shares of Ramaco Resources by 134.7% in the 2nd quarter. Hsbc Holdings PLC now owns 29,899 shares of the energy company’s stock worth $388,000 after purchasing an additional 17,158 shares during the last quarter. Finally, Jupiter Topco LLC bought a new stake in shares of Ramaco Resources in the 2nd quarter worth about $195,000. Hedge funds and other institutional investors own 74.49% of the company’s stock.

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.