Ramaco Resources (NASDAQ:METC) Reaches New 12-Month Low – Here’s Why

Ramaco Resources, Inc. (NASDAQ:METC) shares reached a new 52-week low during mid-day trading on Tuesday. The company traded as low as $8.51 and last traded at $8.5850, with a volume of 772516 shares trading hands. The stock had previously closed at $8.98.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in 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 report on Tuesday, August 18th. The Goldman Sachs Group cut their price target on Ramaco Resources from $13.00 to $11.00 and set a “neutral” rating for the company in a report on Thursday, August 6th. B. Riley Financial reaffirmed a “buy” rating on shares of Ramaco Resources in a research report on Tuesday, August 18th. Wall Street Zen upgraded shares of Ramaco Resources from a “strong sell” rating to a “sell” rating in a report on Saturday, September 26th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $13.00 price objective on shares of Ramaco Resources in a research 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 assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $22.43.

Ramaco Resources Price Performance

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 company has a 50 day moving average of $10.92 and a 200-day moving average of $13.02. The firm has a market capitalization of $524.24 million, a P/E ratio of -7.73 and a beta of 1.39.

Ramaco Resources (NASDAQ:METC) last posted its quarterly earnings data on Tuesday, August 4th. The energy company reported ($0.26) earnings per share for the quarter, hitting the consensus estimate of ($0.26). The firm 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%. On average, sell-side analysts predict that Ramaco Resources, Inc. will post -1.02 EPS for the current 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 shares were sold at an average price of $9.57, for a total value 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 $46,044,715.20. The trade was a 9.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 46.07% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ramaco Resources

Several institutional investors have recently made changes to their positions in the stock. Gratia Capital LLC acquired a new stake in Ramaco Resources during the second quarter worth approximately $1,826,000. Dimensional Fund Advisors LP raised its holdings 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 acquiring an additional 398,626 shares in the last quarter. State Street Corp raised its holdings in Ramaco Resources by 6.7% in the 2nd quarter. State Street Corp now owns 3,059,847 shares of the energy company’s stock valued at $40,482,000 after acquiring an additional 192,663 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Ramaco Resources during the 2nd quarter valued at $1,486,000. Finally, Quantbot Technologies LP lifted its position in shares of Ramaco Resources by 54.1% during the 2nd quarter. Quantbot Technologies LP now owns 127,404 shares of the energy company’s stock valued at $1,686,000 after acquiring an additional 44,710 shares during the period. 74.49% of the stock is currently owned by institutional investors.

About Ramaco Resources

Ramaco Resources, Inc is a metallurgical coal producer headquartered in Lexington, Kentucky. The company develops, operates and sells metallurgical coal used primarily in the production of steel. Its products include various grades of high-quality metallurgical coal, including high-volatility and low-volatility products, as well as coal suitable for pulverized coal injection applications.

Ramaco operates mining complexes in Central Appalachia, including properties in West Virginia and Virginia.