Ramaco Resources (NASDAQ:METC) Shares Down 6.5% - Here's What Happened

Key Points

• Ramaco Resources shares fell 6.5% to $11.48, with trading volume down 93% from its average daily level.
• Analyst sentiment is mixed but centers on a “Hold” consensus; several firms lowered price targets to about $11–$13, while the reported average target remains $22.43.
• The company matched quarterly EPS expectations at a loss of $0.26 but missed revenue estimates, reporting $122.3 million versus $133.1 million expected; a major shareholder also sold 500,000 shares.

Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report)'s stock price was down 6.5% during trading on Thursday . The stock traded as low as $11.45 and last traded at $11.48. 146,505 shares were traded during trading, a decline of 93% from the average daily volume of 2,061,816 shares. The stock had previously closed at $12.28.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Zacks Research downgraded Ramaco Resources from a "hold" rating to a "strong sell" rating in a research report on Friday, July 17th. Robert W. Baird reaffirmed a "neutral" rating and set a $13.00 price target on shares of Ramaco Resources in a research report on Tuesday, August 18th. B. Riley Financial reiterated a "buy" rating on shares of Ramaco Resources in a research note on Tuesday, August 18th. The Goldman Sachs Group cut their price objective on Ramaco Resources from $13.00 to $11.00 and set a "neutral" rating on the stock in a 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 report on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $22.43.

Ramaco Resources Stock Down 5.3%

The business has a 50-day moving average price of $11.75 and a 200-day moving average price of $13.66. The stock has a market cap of $736.91 million, a PE ratio of -10.83 and a beta of 1.39. The company has a current ratio of 4.23, a quick ratio of 3.31 and a debt-to-equity ratio of 1.23.

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

Insider Buying and Selling

In other Ramaco Resources news, major shareholder Discovery Capital Management, sold 500,000 shares of Ramaco Resources stock in a transaction on 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 sale, the insider owned 4,811,360 shares in the company, valued at $46,044,715.20. The trade was a 9.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 46.07% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ramaco Resources

A number of hedge funds have recently modified their holdings of METC. Allworth Financial LP boosted its stake in Ramaco Resources by 3,603.6% during the third quarter. Allworth Financial LP now owns 1,037 shares of the energy company's stock worth $34,000 after buying an additional 1,009 shares during the period. Advisory Services Network LLC acquired a new stake in shares of Ramaco Resources during the third quarter valued at about $38,000. Quarry LP purchased a new stake in shares of Ramaco Resources in the 4th quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd raised its stake in shares of Ramaco Resources by 14,250.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,722 shares of the energy company's stock valued at $31,000 after acquiring an additional 1,710 shares during the period. Finally, Sunbelt Securities Inc. lifted its holdings in shares of Ramaco Resources by 400.0% in the 3rd quarter. Sunbelt Securities Inc. now owns 2,500 shares of the energy company's stock worth $83,000 after acquiring an additional 2,000 shares during the last quarter. 74.49% of the stock is currently owned by hedge funds and other institutional investors.

About Ramaco Resources

Ramaco Resources, Inc NASDAQ: METC is a U.S.-based producer of premium metallurgical coal and industrial minerals, focused on supplying the steel and allied industries. The company’s operations are centered in the Appalachian region of West Virginia, where it develops, mines and processes high-carbon coal products designed to meet the quality requirements of blast‐furnace and electric‐arc furnace steelmakers.

The firm’s flagship asset is the Elk Creek underground mine in Wyoming County, West Virginia, which began commercial production in 2019 and delivers a range of high‐grade metallurgical and anthracite coals.

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