Ramaco Resources (NASDAQ:METC) Stock Price Up 6.2% – Here’s Why

Ramaco Resources, Inc. (NASDAQ:METC) shares rose 6.2% on Tuesday . The company traded as high as $15.78 and last traded at $16.1050. Approximately 740,235 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 2,236,802 shares. The stock had previously closed at $15.17.

Analyst Upgrades and Downgrades

METC has been the topic of a number of research reports. Robert W. Baird lowered their price target on Ramaco Resources from $30.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday. Morgan Stanley reduced their target price on Ramaco Resources from $17.50 to $17.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 9th. B. Riley Financial reduced their target price on Ramaco Resources from $24.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday. Zacks Research raised Ramaco Resources from a “strong sell” rating to a “hold” rating in a research note on Friday, April 10th. Finally, The Goldman Sachs Group raised Ramaco Resources from a “sell” rating to a “neutral” rating and upped their target price for the company from $14.00 to $15.00 in a research note on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Ramaco Resources has an average rating of “Moderate Buy” and an average price target of $27.29.

Ramaco Resources Trading Down 0.8%

The stock has a market cap of $1.02 billion, a PE ratio of -13.81 and a beta of 1.31. The business has a 50 day moving average of $14.60 and a 200-day moving average of $17.74. The company has a current ratio of 4.88, a quick ratio of 4.66 and a debt-to-equity ratio of 1.06.

Ramaco Resources (NASDAQ:METC) last issued its quarterly earnings results on Monday, May 11th. The energy company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.08). Ramaco Resources had a negative return on equity of 13.44% and a negative net margin of 11.52%.The business had revenue of $101.41 million for the quarter, compared to analysts’ expectations of $129.72 million. During the same period in the prior year, the company earned ($0.20) EPS. The company’s revenue for the quarter was down 9.7% compared to the same quarter last year. On average, analysts anticipate that Ramaco Resources, Inc. will post -0.04 EPS for the current year.

Insider Buying and Selling at Ramaco Resources

In other Ramaco Resources news, major shareholder Discovery Capital Management, sold 200,000 shares of the stock in a transaction 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 transaction, the insider owned 5,311,360 shares of the company’s stock, valued at $78,555,014.40. This represents a 3.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 36.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Quarry LP purchased a new position in shares of Ramaco Resources during the 4th quarter worth $27,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of Ramaco Resources by 14,250.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,722 shares of the energy company’s stock worth $31,000 after purchasing an additional 1,710 shares during the period. Archer Investment Corp purchased a new position in shares of Ramaco Resources during the 3rd quarter worth $33,000. Allworth Financial LP lifted its stake in shares of Ramaco Resources by 3,603.6% during the 3rd quarter. Allworth Financial LP now owns 1,037 shares of the energy company’s stock worth $34,000 after purchasing an additional 1,009 shares during the period. Finally, MCF Advisors LLC purchased a new position in shares of Ramaco Resources during the 3rd quarter worth $35,000. Hedge funds and other institutional investors own 74.49% of the company’s stock.

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.