Wall Street Zen Downgrades Ramaco Resources (NASDAQ:METC) to Strong Sell

Ramaco Resources (NASDAQ:METC) was downgraded by Wall Street Zen from a “sell” rating to a “strong sell” rating in a research report issued on Saturday.

A number of other brokerages have also issued reports on METC. Weiss Ratings lowered Ramaco Resources from a “sell (d)” rating to a “sell (d-)” rating in a research report on Thursday, August 6th. Benchmark decreased their price target on Ramaco Resources from $38.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Robert W. Baird reiterated a “neutral” rating and issued a $13.00 price objective on shares of Ramaco Resources in a report on Tuesday, August 18th. Zacks Research cut Ramaco Resources from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th. Finally, Morgan Stanley lowered their target price on Ramaco Resources from $13.00 to $11.00 and set an “equal weight” rating for the company in a report on Tuesday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $22.43.

Ramaco Resources Price Performance

Shares of METC opened at $11.90 on Friday. Ramaco Resources has a 1-year low of $8.56 and a 1-year high of $57.80. The stock has a market cap of $754.32 million, a PE ratio of -11.12 and a beta of 1.37. The firm has a 50-day simple moving average of $11.80 and a two-hundred day simple moving average of $14.04. The company has a debt-to-equity ratio of 1.23, a current ratio of 4.23 and a quick ratio of 3.31.

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

Insider Activity 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 on Thursday, August 6th. The shares were sold at an average price of $9.57, for a total value of $4,785,000.00. Following the completion of the transaction, the insider owned 4,811,360 shares in the company, valued at $46,044,715.20. The trade was a 9.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 46.07% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. AlphaGrep UK Ltd boosted its holdings in Ramaco Resources by 19.5% in the second quarter. AlphaGrep UK Ltd now owns 18,620 shares of the energy company’s stock valued at $246,000 after purchasing an additional 3,044 shares during the period. Van ECK Associates Corp increased its holdings in 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 period. Hsbc Holdings PLC increased its holdings in Ramaco Resources by 134.7% during the 2nd 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 during the period. Jupiter Topco LLC acquired a new stake in Ramaco Resources in the 2nd quarter valued at about $195,000. Finally, Quantbot Technologies LP raised its position in Ramaco Resources by 54.1% in the 2nd 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 in the last quarter. 74.49% of the stock is currently owned by hedge funds and other institutional investors.

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.