Ramaco Resources (NASDAQ:METC) Stock Bumped Down to Strong Sell by Wall Street Zen

Key Points

• Wall Street Zen downgraded Ramaco Resources to “strong sell” from “sell,” adding to mixed analyst sentiment. MarketBeat data shows a consensus “hold” rating and an average price target of $22.43.
• Ramaco shares opened at $8.10, near their 52-week low of $7.87 and well below the 52-week high of $57.80. The company reported a quarterly loss of $0.26 per share and revenue of $122.32 million, below the $133.11 million analyst estimate.
• Major shareholder Discovery Capital Management sold 500,000 shares for approximately $4.8 million, reducing its position by 9.41%; insiders still own 46.07% of the company, while institutional investors own 74.49%.

Ramaco Resources (NASDAQ:METC - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "sell" rating to a "strong sell" rating in a report issued on Sunday, Wall Street Zen reports.

METC has been the topic of a number of other research reports. The Goldman Sachs Group decreased their price target on shares of Ramaco Resources from $13.00 to $11.00 and set a "neutral" rating on the stock in a report on Thursday, August 6th. Zacks Research downgraded shares of Ramaco Resources from a "hold" rating to a "strong sell" rating in a report on Friday, July 17th. Weiss Ratings lowered shares of Ramaco Resources from a "sell (d)" rating to a "sell (d-)" rating in a research report on Thursday, August 6th. Benchmark reduced their target price 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. Finally, B. Riley Financial reissued a "buy" rating on shares of Ramaco Resources in a research note on Tuesday, August 18th. One 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 given a Sell rating to the company. Based on data from MarketBeat.com, Ramaco Resources currently has a consensus rating of "Hold" and an average price target of $22.43.

Ramaco Resources Trading Down 2.8%

Shares of METC stock opened at $8.10 on Friday. Ramaco Resources has a fifty-two week low of $7.87 and a fifty-two week high of $57.80. The stock has a 50 day simple moving average of $10.82 and a two-hundred day simple moving average of $12.94. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.31 and a current ratio of 4.23. The company has a market cap of $513.46 million, a P/E ratio of -7.57 and a beta of 1.64.

Ramaco Resources (NASDAQ:METC - Get Free Report) last announced its earnings results on Tuesday, August 4th. The energy company reported ($0.26) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.26). Ramaco Resources had a negative return on equity of 13.54% and a negative net margin of 11.98%.The business had revenue of $122.32 million for the quarter, compared to analyst estimates of $133.11 million. Research analysts forecast that Ramaco Resources will post -1.02 earnings per share for the current year.

Insider Activity

In other news, major shareholder Discovery Capital Management, sold 500,000 shares of the company'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 sale, the insider owned 4,811,360 shares of the company's stock, valued at approximately $46,044,715.20. This represents a 9.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 46.07% of the company's stock.

Institutional Trading of Ramaco Resources

Hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its stake in shares of 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 valued at $22,179,000 after buying an additional 398,626 shares during the last quarter. State Street Corp increased its holdings in shares of Ramaco Resources by 6.7% in the second quarter. State Street Corp now owns 3,059,847 shares of the energy company's stock worth $40,482,000 after buying an additional 192,663 shares during the period. Gratia Capital LLC purchased a new position in shares of Ramaco Resources in the second quarter worth about $1,826,000. Bank of New York Mellon Corp bought a new stake in shares of Ramaco Resources in the 2nd quarter valued at about $1,486,000. Finally, Quantbot Technologies LP boosted its holdings in 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 owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.