Ramaco Resources (NASDAQ:METC) Shares Down 6.5% – Time to Sell?

Ramaco Resources, Inc. (NASDAQ:METC)’s stock price traded down 6.5% during trading on Thursday . The company traded as low as $11.45 and last traded at $11.48. 146,505 shares traded hands during trading, a decline of 93% from the average daily volume of 2,061,816 shares. The stock had previously closed at $12.28.

Analysts Set New Price Targets

Several research firms have recently commented on METC. Morgan Stanley lowered their price target on Ramaco Resources from $13.00 to $11.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 18th. Robert W. Baird reissued a “neutral” rating and set a $13.00 target price on shares of Ramaco Resources in a research note on Tuesday, August 18th. Zacks Research lowered Ramaco Resources from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. B. Riley Financial restated a “buy” rating on shares of Ramaco Resources in a report on Tuesday, August 18th. Finally, Wall Street Zen downgraded Ramaco Resources from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 22nd. One research 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. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $22.43.

Ramaco Resources Stock Performance

The stock has a market capitalization of $736.91 million, a PE ratio of -10.83 and a beta of 1.39. The stock has a fifty day moving average of $11.75 and a 200-day moving average of $13.66. The company has a quick ratio of 3.31, a current ratio of 4.23 and a debt-to-equity ratio of 1.23.

Ramaco Resources (NASDAQ:METC) last released its earnings results on Tuesday, August 4th. The energy company reported ($0.26) EPS for the quarter, hitting the consensus estimate of ($0.26). Ramaco Resources had a negative return on equity of 13.54% and a negative net margin of 11.98%.The firm had revenue of $122.32 million during the quarter, compared to analysts’ expectations of $133.11 million. Equities analysts anticipate that Ramaco Resources, Inc. will post -1.02 earnings per share for the current fiscal year.

Insider Activity at Ramaco Resources

In other 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 directly 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 filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 46.07% of the company’s stock.

Institutional Trading of Ramaco Resources

Several hedge funds have recently added to or reduced their stakes in the company. Gratia Capital LLC purchased a new position in Ramaco Resources in the second quarter worth approximately $1,826,000. California State Teachers Retirement System raised its holdings 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 lifted its position in shares of Ramaco Resources by 19.5% during the 2nd quarter. AlphaGrep UK Ltd now owns 18,620 shares of the energy company’s stock worth $246,000 after purchasing an additional 3,044 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of 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 purchasing an additional 3,028 shares during the last quarter. Finally, Hsbc Holdings PLC grew its stake in shares of Ramaco Resources by 134.7% during the second 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 in the last quarter. Institutional investors and hedge funds 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.