Ramaco Resources (NASDAQ:METC) Stock Moved Up to "Sell" by Wall Street Zen

Key Points

• Wall Street Zen upgraded Ramaco Resources from “strong sell” to “sell,” while the broader analyst consensus remains “hold” with an average price target of $22.43.
• Ramaco shares opened at $9.02, near their 52-week low of $8.56, after the company reported a quarterly loss of $0.26 per share and revenue of $122.32 million, below analyst expectations.
• Discovery Capital Management sold 500,000 shares, reducing its position by 9.41%; insiders own 46.07% of the company, while institutional investors hold 74.49%.

Ramaco Resources (NASDAQ:METC - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Several other brokerages also recently commented on METC. Benchmark cut their target price on 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 decreased their price target on Ramaco Resources from $13.00 to $11.00 and set a "neutral" rating on the stock in a research report on Thursday, August 6th. B. Riley Financial reissued a "buy" rating on shares of Ramaco Resources in a report on Tuesday, August 18th. Morgan Stanley lowered their price target on shares of Ramaco Resources from $13.00 to $11.00 and set an "equal weight" rating on the stock in a report on Tuesday, August 18th. Finally, Robert W. Baird restated a "neutral" rating and issued a $13.00 price objective on shares of Ramaco Resources in a research report on Tuesday, August 18th. One research 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's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $22.43.

Ramaco Resources Trading Down 1.3%

NASDAQ:METC opened at $9.02 on Friday. The company has a market cap of $571.78 million, a P/E ratio of -8.43 and a beta of 1.39. The stock's fifty day moving average price is $11.13 and its two-hundred day moving average price is $13.17. Ramaco Resources has a 1 year low of $8.56 and a 1 year 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.

Ramaco Resources (NASDAQ:METC - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The energy company reported ($0.26) earnings per share for the quarter, meeting 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 during the quarter, compared to analysts' expectations of $133.11 million. As a group, analysts expect that Ramaco Resources will post -1.02 EPS for the current year.

Insider Buying and Selling

In other Ramaco Resources news, major shareholder Discovery Capital Management, sold 500,000 shares of the company's stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $9.57, for a total value of $4,785,000.00. Following the transaction, the insider directly owned 4,811,360 shares in the company, valued at $46,044,715.20. This represents a 9.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 46.07% of the stock is currently owned by insiders.

Institutional Trading of Ramaco Resources

A number of large investors have recently modified their holdings of the business. Texas Yale Capital Corp. raised its position in shares of Ramaco Resources by 331.9% during the 4th quarter. Texas Yale Capital Corp. now owns 142,488 shares of the energy company's stock valued at $2,565,000 after buying an additional 109,500 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Ramaco Resources by 38.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,435,059 shares of the energy company's stock worth $22,179,000 after acquiring an additional 398,626 shares in the last quarter. Gratia Capital LLC purchased a new position in Ramaco Resources in the second quarter worth $1,826,000. State Street Corp increased 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 acquiring an additional 192,663 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in Ramaco Resources in the second quarter valued at $1,486,000. Institutional investors own 74.49% of the company's stock.

Ramaco Resources Company Profile

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.

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