Ramaco Resources (NASDAQ:METC) Downgraded to Strong Sell Rating by Wall Street Zen

Wall Street Zen cut shares of Ramaco Resources (NASDAQ:METC) from a sell rating to a strong sell rating in a report released on Saturday morning.

Other equities analysts have also issued reports about the stock. B. Riley Financial reissued a “buy” rating on shares of Ramaco Resources in a report on Tuesday. Robert W. Baird reaffirmed a “neutral” rating and set a $13.00 price target on shares of Ramaco Resources in a report on Tuesday, August 18th. Benchmark reduced their price target on shares of Ramaco Resources from $38.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Weiss Ratings cut shares of Ramaco Resources from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday, August 6th. Finally, Zacks Research cut shares of Ramaco Resources from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Ramaco Resources has an average rating of “Hold” and an average price target of $22.43.

Ramaco Resources Stock Performance

METC opened at $11.90 on Friday. The firm has a market cap of $754.34 million, a P/E ratio of -11.12 and a beta of 1.37. Ramaco Resources has a 52-week low of $8.56 and a 52-week high of $57.80. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.31 and a current ratio of 4.23. The business’s fifty day moving average is $11.80 and its 200-day moving average is $14.07.

Ramaco Resources (NASDAQ:METC) last issued its quarterly earnings results on Tuesday, August 4th. The energy company reported ($0.26) EPS for the quarter, hitting analysts’ consensus estimates of ($0.26). The company had revenue of $122.32 million for the quarter, compared to analysts’ expectations of $133.11 million. Ramaco Resources had a negative return on equity of 13.54% and a negative net margin of 11.98%. Sell-side analysts expect that Ramaco Resources will post -1.02 EPS for the current fiscal 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 dated Thursday, August 6th. The stock was sold at an average price of $9.57, for a total transaction 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 approximately $46,044,715.20. The trade was a 9.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 46.07% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ramaco Resources

Hedge funds have recently made changes to their positions in the stock. State Street Corp grew its holdings in shares of Ramaco Resources by 10.2% during the 4th quarter. State Street Corp now owns 2,489,797 shares of the energy company’s stock valued at $44,816,000 after purchasing an additional 230,197 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Ramaco Resources by 0.7% in the 4th quarter. Renaissance Technologies LLC now owns 1,526,164 shares of the energy company’s stock valued at $27,471,000 after purchasing an additional 9,860 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in 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 purchasing an additional 398,626 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Ramaco Resources by 74.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,160,898 shares of the energy company’s stock valued at $20,896,000 after buying an additional 496,150 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Ramaco Resources by 20.1% in the fourth quarter. Geode Capital Management LLC now owns 978,950 shares of the energy company’s stock valued at $17,625,000 after buying an additional 163,971 shares in the last quarter. 74.49% of the stock is currently owned by institutional investors and hedge funds.

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.