Ramaco Resources (NASDAQ:METC) Sets New 12-Month Low – What’s Next?

Ramaco Resources, Inc. (NASDAQ:METC) hit a new 52-week low on Wednesday. The company traded as low as $7.77 and last traded at $7.9450, with a volume of 344291 shares. The stock had previously closed at $8.22.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on METC shares. Robert W. Baird reiterated a “neutral” rating and set a $13.00 price objective on shares of Ramaco Resources in a report on Tuesday, August 18th. The Goldman Sachs Group cut their target price on Ramaco Resources from $13.00 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday, August 6th. Weiss Ratings downgraded Ramaco Resources from a “sell (d)” rating to a “sell (d-)” rating in a research report on Thursday, August 6th. Zacks Research cut shares of Ramaco Resources from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. Finally, Wall Street Zen downgraded shares of Ramaco Resources from a “sell” rating to a “strong sell” rating in a report on Sunday, October 4th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $22.43.

Ramaco Resources Price Performance

The company’s 50-day simple moving average is $10.69 and its 200-day simple moving average is $12.77. 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 stock has a market capitalization of $538.16 million, a price-to-earnings ratio of -7.93 and a beta of 1.64.

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%. Research analysts forecast that Ramaco Resources, Inc. will post -1.02 earnings per share for the current fiscal year.

Insiders Place Their Bets

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 company insiders.

Institutional Investors Weigh In On Ramaco Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in METC. Gratia Capital LLC bought a new position in shares of Ramaco Resources in the second quarter worth $1,826,000. State Street Corp raised its stake in Ramaco Resources by 6.7% in the second quarter. State Street Corp now owns 3,059,847 shares of the energy company’s stock valued at $40,482,000 after purchasing an additional 192,663 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Ramaco Resources by 38.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,435,059 shares of the energy company’s stock worth $22,179,000 after purchasing an additional 398,626 shares during the period. Bank of New York Mellon Corp acquired a new stake in Ramaco Resources during the second quarter worth about $1,486,000. Finally, Quantbot Technologies LP grew its stake in Ramaco Resources by 54.1% during the second quarter. Quantbot Technologies LP now owns 127,404 shares of the energy company’s stock worth $1,686,000 after buying an additional 44,710 shares in the last quarter. 74.49% of the stock is currently owned by institutional investors and hedge funds.

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.