Ramaco Resources (NASDAQ:METC) Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Ramaco Resources (NASDAQ:METC) from a sell rating to a strong sell rating in a research note released on Sunday,Wall Street Zen reports.

A number of other research analysts also recently issued reports on METC. Weiss Ratings downgraded Ramaco Resources from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday, August 6th. B. Riley Financial restated a “buy” rating on shares of Ramaco Resources in a report on Tuesday, August 18th. Benchmark decreased their price target on shares of Ramaco Resources from $38.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. The Goldman Sachs Group cut their price objective 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. Finally, Morgan Stanley decreased their target price 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. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $22.43.

Ramaco Resources Stock Performance

Shares of Ramaco Resources stock opened at $8.22 on Friday. Ramaco Resources has a fifty-two week low of $7.87 and a fifty-two week high of $57.80. The company has a debt-to-equity ratio of 1.23, a current ratio of 4.23 and a quick ratio of 3.31. The firm has a market capitalization of $521.07 million, a P/E ratio of -7.68 and a beta of 1.64. The company’s 50 day moving average price is $10.75 and its two-hundred day moving average price is $12.85.

Ramaco Resources (NASDAQ:METC) last released its quarterly earnings results on Tuesday, August 4th. The energy company reported ($0.26) earnings per share 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 company had revenue of $122.32 million for the quarter, compared to analysts’ expectations of $133.11 million. On average, equities analysts forecast that Ramaco Resources will post -1.02 earnings per share for the current fiscal year.

Insider Activity at Ramaco Resources

In other Ramaco Resources news, major shareholder Discovery Capital Management, sold 500,000 shares of Ramaco Resources 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 sale, the insider 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 legal filing with the SEC, which is accessible through this link. 46.07% of the stock is owned by insiders.

Hedge Funds Weigh In On Ramaco Resources

Large investors have recently modified their holdings of the business. MidFirst Bank bought a new position in Ramaco Resources in the 4th quarter worth about $54,000. Fifth Third Bancorp boosted its position in shares of Ramaco Resources by 1,274.6% during the 1st quarter. Fifth Third Bancorp now owns 6,873 shares of the energy company’s stock valued at $106,000 after acquiring an additional 6,373 shares during the last quarter. Havemeyer Place LP purchased a new position in shares of Ramaco Resources during the fourth quarter worth about $161,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of Ramaco Resources by 78,508.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 9,433 shares of the energy company’s stock worth $170,000 after purchasing an additional 9,421 shares in the last quarter. Finally, Krilogy Financial LLC bought a new position in shares of Ramaco Resources in the first quarter worth approximately $155,000. Hedge funds and other institutional investors own 74.49% of the company’s stock.

About Ramaco Resources

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.