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

Ramaco Resources (NASDAQ:METC) was upgraded by equities researchers at Wall Street Zen from a “strong sell” rating to a “sell” rating in a report released on Saturday, Wall Street Zen reports.

METC has been the topic of several other research reports. Morgan Stanley decreased their price objective on Ramaco Resources from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 18th. Zacks Research downgraded Ramaco Resources from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. Robert W. Baird reissued a “neutral” rating and issued a $13.00 target price on shares of Ramaco Resources in a report on Tuesday, August 18th. The Goldman Sachs Group decreased 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. Finally, Weiss Ratings downgraded shares of Ramaco Resources from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Ramaco Resources currently has an average rating of “Hold” and a consensus price target of $22.43.

Ramaco Resources Price Performance

Shares of NASDAQ:METC opened at $9.02 on Friday. The company has a quick ratio of 3.31, a current ratio of 4.23 and a debt-to-equity ratio of 1.23. The stock has a market cap of $571.78 million, a PE ratio of -8.43 and a beta of 1.39. The company’s fifty day moving average is $11.13 and its 200 day moving average is $13.16. Ramaco Resources has a 52 week low of $8.56 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). Ramaco Resources had a negative net margin of 11.98% and a negative return on equity of 13.54%. The business had revenue of $122.32 million during the quarter, compared to analyst estimates of $133.11 million. Research analysts anticipate that Ramaco Resources will post -1.02 earnings per share 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 dated Thursday, August 6th. The stock was sold at an average price of $9.57, for a total value of $4,785,000.00. Following the completion of the transaction, the insider owned 4,811,360 shares of the company’s stock, valued at $46,044,715.20. This represents a 9.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 46.07% of the stock is owned by insiders.

Institutional Trading of Ramaco Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp raised its position 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 valued at $40,482,000 after buying an additional 192,663 shares during the last quarter. Gratia Capital LLC bought a new position in shares of Ramaco Resources during the second quarter worth $1,826,000. AlphaGrep UK Ltd grew its stake in Ramaco Resources by 19.5% during the second 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 in the last quarter. Van ECK Associates Corp grew its stake in Ramaco Resources by 8.4% during the second quarter. Van ECK Associates Corp now owns 38,894 shares of the energy company’s stock valued at $515,000 after acquiring an additional 3,028 shares in the last quarter. Finally, Hsbc Holdings PLC increased its holdings in Ramaco Resources by 134.7% in the 2nd quarter. Hsbc Holdings PLC now owns 29,899 shares of the energy company’s stock valued at $388,000 after acquiring an additional 17,158 shares during the last quarter. Institutional investors own 74.49% of the company’s stock.

About Ramaco Resources

Ramaco Resources, Inc is a metallurgical coal producer headquartered in Lexington, Kentucky. The company develops, operates and sells metallurgical coal used primarily in the production of steel. Its products include various grades of high-quality metallurgical coal, including high-volatility and low-volatility products, as well as coal suitable for pulverized coal injection applications.

Ramaco operates mining complexes in Central Appalachia, including properties in West Virginia and Virginia.