Ramaco Resources (NASDAQ:METC) Sets New 1-Year Low – Should You Sell?

Ramaco Resources, Inc. (NASDAQ:METC)’s share price reached a new 52-week low during trading on Wednesday. The company traded as low as $7.77 and last traded at $7.9450, with a volume of 344291 shares changing hands. The stock had previously closed at $8.22.

Analyst Ratings Changes

A number of research analysts have recently issued reports on METC shares. Morgan Stanley decreased their target price on Ramaco Resources from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 18th. Weiss Ratings downgraded shares of Ramaco Resources from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, August 6th. The Goldman Sachs Group dropped 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 report on Thursday, August 6th. Wall Street Zen cut shares of Ramaco Resources from a “sell” rating to a “strong sell” rating in a research note on Sunday. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $13.00 price target on shares of Ramaco Resources in a research note on Tuesday, August 18th. 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. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $22.43.

Ramaco Resources Stock Down 3.5%

The company has a current ratio of 4.23, a quick ratio of 3.31 and a debt-to-equity ratio of 1.23. The business has a fifty day simple moving average of $10.75 and a two-hundred day simple moving average of $12.85. The company has a market cap of $503.00 million, a PE ratio of -7.42 and a beta of 1.64.

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

Insider Transactions at Ramaco Resources

In related news, major shareholder Discovery Capital Management, sold 500,000 shares of the company’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $9.57, for a total transaction of $4,785,000.00. Following the completion of the sale, the insider owned 4,811,360 shares of the company’s stock, valued at approximately $46,044,715.20. This represents a 9.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 46.07% of the company’s stock.

Hedge Funds Weigh In On Ramaco Resources

A number of institutional investors have recently added to or reduced their stakes in METC. State Street Corp boosted its stake in Ramaco Resources by 6.7% during the second quarter. State Street Corp now owns 3,059,847 shares of the energy company’s stock worth $40,482,000 after buying an additional 192,663 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Ramaco Resources by 38.5% during 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 acquiring an additional 398,626 shares during the last quarter. Gratia Capital LLC purchased a new stake in shares of Ramaco Resources in the second quarter valued at about $1,826,000. Quantbot Technologies LP grew its holdings in shares of Ramaco Resources by 54.1% in the second quarter. Quantbot Technologies LP now owns 127,404 shares of the energy company’s stock valued at $1,686,000 after purchasing an additional 44,710 shares during the period. Finally, Bank of New York Mellon Corp acquired a new stake in Ramaco Resources during the second quarter worth about $1,486,000. Hedge funds and other institutional investors own 74.49% of the company’s stock.

Ramaco Resources Company Profile

Ramaco Resources, Inc is a producer of metallurgical coal, which is used primarily in the manufacture of steel and metallurgical coke. The company develops and operates coal mining properties and sells its products to domestic and international steel, coke and industrial customers.

Ramaco’s operations and development properties are located in major U.S. coal-producing regions, including southern West Virginia, southwestern Virginia and Wyoming. Its portfolio has included the Elk Creek and Berwind mining complexes in West Virginia, the RAM No.