Ramaco Resources (NASDAQ:METC) Shares Up 6% - Here's What Happened

Key Points

• Ramaco Resources shares rose 6% to approximately $8.73 in Thursday trading, although volume was 35% below the average session level.
• Analyst views remain mixed: the stock has a consensus rating of “Hold” and an average price target of $22.43, despite several recent target reductions.
• The company reported a quarterly loss of $0.26 per share, matching estimates, while revenue of $122.32 million fell short of the $133.11 million consensus forecast. A major shareholder also sold 500,000 shares, reducing its position by 9.41%.

Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report) shares traded up 6% on Thursday. The company traded as high as $8.68 and last traded at $8.7250. Approximately 1,335,017 shares traded hands during mid-day trading, a decline of 35% from the average session volume of 2,065,691 shares. The stock had previously closed at $8.23.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Morgan Stanley cut their price target on shares of Ramaco Resources from $13.00 to $11.00 and set an "equal weight" rating for the company in a research note on Tuesday, August 18th. B. Riley Financial reissued a "buy" rating on shares of Ramaco Resources in a report on Tuesday, August 18th. Robert W. Baird reaffirmed a "neutral" rating and issued a $13.00 target price on shares of Ramaco Resources in a research note on Tuesday, August 18th. Benchmark reduced their price target on shares of Ramaco Resources from $38.00 to $26.00 and set a "buy" rating on the stock in a research report on Thursday, August 6th. Finally, 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 research note on Thursday, August 6th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, Ramaco Resources has a consensus rating of "Hold" and an average target price of $22.43.

Ramaco Resources Trading Up 5.5%

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's 50 day moving average is $10.72 and its 200-day moving average is $12.80. The company has a market capitalization of $550.61 million, a P/E ratio of -8.06 and a beta of 1.64.

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

Insider Activity 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 directly owned 4,811,360 shares in the company, valued at approximately $46,044,715.20. This trade represents a 9.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 46.07% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ramaco Resources

A number of hedge funds have recently bought and sold shares of METC. MidFirst Bank bought a new stake in shares of Ramaco Resources in the fourth quarter worth approximately $54,000. Fifth Third Bancorp boosted its holdings in Ramaco Resources by 1,274.6% in the first quarter. Fifth Third Bancorp now owns 6,873 shares of the energy company's stock worth $106,000 after purchasing an additional 6,373 shares during the last quarter. Havemeyer Place LP bought a new stake in Ramaco Resources in the 4th quarter worth approximately $161,000. Caitong International Asset Management Co. Ltd raised its stake in Ramaco Resources by 78,508.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 9,433 shares of the energy company's stock valued at $170,000 after buying an additional 9,421 shares during the last quarter. Finally, Krilogy Financial LLC bought a new position in shares of Ramaco Resources during the 1st quarter valued at $155,000. Hedge funds and other institutional investors own 74.49% of the company's stock.

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.

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