Ramaco Resources (NASDAQ:METC) Shares Gap Up – Here’s Why

Ramaco Resources, Inc. (NASDAQ:METC) shares gapped up prior to trading on Thursday . The stock had previously closed at $17.35, but opened at $18.86. Ramaco Resources shares last traded at $17.9850, with a volume of 856,663 shares.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Jefferies Financial Group lowered Ramaco Resources from a “buy” rating to a “hold” rating and decreased their price target for the company from $45.00 to $33.00 in a research note on Tuesday, October 28th. Benchmark raised their target price on Ramaco Resources from $24.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Zacks Research lowered Ramaco Resources from a “hold” rating to a “strong sell” rating in a report on Monday, October 13th. Robert W. Baird set a $43.00 price target on shares of Ramaco Resources in a report on Wednesday, October 29th. Finally, Northland Capmk upgraded shares of Ramaco Resources to a “strong-buy” rating in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, Ramaco Resources currently has an average rating of “Moderate Buy” and a consensus price target of $37.33.

Ramaco Resources Trading Down 2.9%

The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.24 and a current ratio of 2.97. The firm has a market capitalization of $1.07 billion, a P/E ratio of -24.10 and a beta of 1.28. The firm has a 50 day moving average price of $32.46 and a two-hundred day moving average price of $22.12.

Ramaco Resources (NASDAQ:METC) last announced its earnings results on Monday, October 27th. The energy company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.05. Ramaco Resources had a negative return on equity of 8.26% and a negative net margin of 5.67%.The company had revenue of $104.87 million for the quarter, compared to analyst estimates of $137.63 million. During the same period in the previous year, the firm earned ($0.03) earnings per share. Ramaco Resources’s revenue for the quarter was down 27.7% compared to the same quarter last year. On average, equities research analysts expect that Ramaco Resources, Inc. will post 0.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Brooklyn Investment Group acquired a new stake in shares of Ramaco Resources during the first quarter valued at approximately $25,000. Archer Investment Corp purchased a new position in Ramaco Resources during the 3rd quarter worth approximately $33,000. MCF Advisors LLC acquired a new stake in Ramaco Resources during the 3rd quarter valued at $35,000. Advisory Services Network LLC purchased a new stake in shares of Ramaco Resources in the third quarter valued at $38,000. Finally, Ameritas Investment Partners Inc. lifted its holdings in shares of Ramaco Resources by 63.9% in the second quarter. Ameritas Investment Partners Inc. now owns 3,632 shares of the energy company’s stock valued at $48,000 after purchasing an additional 1,416 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 engages in the development, operation, and sale of metallurgical coal. Its development portfolio includes the Elk Creek project that covers an area of approximately 20,200 acres located in southern West Virginia; the Berwind property covering an area of approximately 62,500 acres situated on the border of West Virginia and Virginia; the Knox Creek property, which covers an area of approximately 64,050 acres is located in Virginia; the Maben property covering an area of approximately 28,000 acres situated in southwestern Pennsylvania southern West Virginia; and the Brook Mine property that covers an area of approximately 16,000 acres located in northeastern Wyoming.