Ramaco Resources (NASDAQ:METC) Shares Up 4% - Here's Why

Key Points

• Ramaco Resources shares rose 4% to about $13.84, although trading volume was 91% below the average session volume.
• Analyst sentiment remains mixed to negative: the consensus rating is “Hold” with a $22.43 target price, while several firms recently issued or maintained “Sell” or “Strong Sell” ratings.
• The company met quarterly EPS expectations at a loss of $0.26 but missed revenue estimates, reporting $122.32 million versus the $133.11 million consensus; analysts expect a full-year loss of $1.02 per share.

Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report) shares rose 4% on Monday . The stock traded as high as $14.16 and last traded at $13.8350. 186,771 shares were traded during trading, a decline of 91% from the average session volume of 2,044,682 shares. The stock had previously closed at $13.30.

Analyst Ratings Changes

Several analysts have commented on the stock. Robert W. Baird reaffirmed a "neutral" rating and issued a $13.00 price objective on shares of Ramaco Resources in a research report on Tuesday, August 18th. Morgan Stanley reduced their target price on shares of 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. Wall Street Zen lowered shares of Ramaco Resources from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 22nd. B. Riley Financial reaffirmed a "buy" rating on shares of Ramaco Resources in a report on Tuesday, August 18th. Finally, Zacks Research downgraded Ramaco Resources from a "hold" rating to a "strong sell" rating in a research note on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $22.43.

Ramaco Resources Price Performance

The stock has a market cap of $918.52 million, a P/E ratio of -13.54 and a beta of 1.37. The company has a quick ratio of 3.31, a current ratio of 4.23 and a debt-to-equity ratio of 1.23. The business's 50-day simple moving average is $11.68 and its two-hundred day simple moving average is $13.84.

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

Insider Transactions at Ramaco Resources

In other Ramaco Resources news, major shareholder Discovery Capital Management, sold 500,000 shares of the stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $9.57, for a total transaction of $4,785,000.00. Following the sale, the insider owned 4,811,360 shares in the company, valued at $46,044,715.20. This represents a 9.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 46.07% of the stock is owned by insiders.

Institutional Trading of Ramaco Resources

Hedge funds and other institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System lifted its holdings in Ramaco Resources by 1,370.4% during the 2nd quarter. California State Teachers Retirement System now owns 527,387 shares of the energy company's stock worth $6,977,000 after purchasing an additional 491,521 shares in the last quarter. AlphaGrep UK Ltd lifted its holdings in shares of Ramaco Resources by 19.5% in the second quarter. AlphaGrep UK Ltd now owns 18,620 shares of the energy company's stock worth $246,000 after buying an additional 3,044 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Ramaco Resources by 8.4% in the second quarter. Van ECK Associates Corp now owns 38,894 shares of the energy company's stock worth $515,000 after buying an additional 3,028 shares in the last quarter. Hsbc Holdings PLC boosted its position in shares of Ramaco Resources by 134.7% in the second quarter. Hsbc Holdings PLC now owns 29,899 shares of the energy company's stock valued at $388,000 after acquiring an additional 17,158 shares during the period. Finally, Jupiter Topco LLC bought a new position in shares of Ramaco Resources in the second quarter valued at approximately $195,000. 74.49% of the stock is currently owned by 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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