Ramaco Resources (NASDAQ:METC) Sets New 12-Month High - Time to Buy?

Key Points

• Ramaco Resources shares recently reached a new 52-week high of $24.79, closing at $24.63 with significant trading volume of 962,726 shares.
• Wall Street analysts have mixed ratings: while Benchmark raised its price target to $24.00, Wall Street Zen downgraded the stock to a "sell."
• In a recent transaction, Director Peter A. Leidel sold 1.6 million shares of Ramaco Resources, marking a 39% reduction in his ownership.

Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report)'s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $24.79 and last traded at $24.63, with a volume of 962726 shares changing hands. The stock had previously closed at $23.49.

Analyst Upgrades and Downgrades

METC has been the subject of several analyst reports. Wall Street Zen downgraded shares of Ramaco Resources from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Jefferies Financial Group reissued a "buy" rating and issued a $27.00 price target (up from $15.00) on shares of Ramaco Resources in a report on Wednesday, July 16th. Finally, Benchmark reissued a "buy" rating and issued a $24.00 price target (up from $14.00) on shares of Ramaco Resources in a report on Tuesday, August 5th.

Ramaco Resources Price Performance

The company has a current ratio of 1.36, a quick ratio of 0.84 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $1.30 billion, a P/E ratio of -52.42 and a beta of 1.35. The business's fifty day moving average price is $16.98 and its 200-day moving average price is $11.90.

Ramaco Resources (NASDAQ:METC - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The energy company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.07). Ramaco Resources had a negative return on equity of 5.55% and a negative net margin of 3.17%. The company had revenue of $152.96 million for the quarter, compared to the consensus estimate of $131.55 million. During the same period in the prior year, the firm posted $0.08 earnings per share. The business's revenue was down 1.5% on a year-over-year basis. As a group, sell-side analysts predict that Ramaco Resources, Inc. will post 0.05 earnings per share for the current fiscal year.

Ramaco Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were given a $0.0688 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Friday, May 30th. Ramaco Resources's dividend payout ratio (DPR) is presently -60.00%.

Insider Buying and Selling

In related news, Director Peter A. Leidel sold 1,600,000 shares of Ramaco Resources stock in a transaction on Friday, August 8th. The shares were sold at an average price of $18.75, for a total value of $30,000,000.00. Following the transaction, the director owned 2,502,930 shares in the company, valued at $46,929,937.50. This trade represents a 39.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 36.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ramaco Resources

A number of large investors have recently added to or reduced their stakes in METC. Encompass Capital Advisors LLC purchased a new position in Ramaco Resources in the 1st quarter worth $13,248,000. CenterBook Partners LP increased its position in shares of Ramaco Resources by 151.0% in the first quarter. CenterBook Partners LP now owns 1,678,594 shares of the energy company's stock valued at $13,815,000 after acquiring an additional 1,009,782 shares during the period. Graham Capital Management L.P. purchased a new position in shares of Ramaco Resources in the fourth quarter valued at about $3,588,000. Point72 Asset Management L.P. increased its position in shares of Ramaco Resources by 98.9% in the fourth quarter. Point72 Asset Management L.P. now owns 696,531 shares of the energy company's stock valued at $7,146,000 after acquiring an additional 346,265 shares during the period. Finally, Pacer Advisors Inc. purchased a new position in shares of Ramaco Resources in the first quarter valued at about $2,748,000. Hedge funds and other institutional investors own 74.49% of the company's stock.

Ramaco Resources Company Profile

Ramaco Resources, Inc engages in the development, operation, and sale of metallurgical coal. Its development portfolio includes the Elk Creek project that covers an area of approximately 20,200 acres located in southern West Virginia; the Berwind property covering an area of approximately 62,500 acres situated on the border of West Virginia and Virginia; the Knox Creek property, which covers an area of approximately 64,050 acres is located in Virginia; the Maben property covering an area of approximately 28,000 acres situated in southwestern Pennsylvania southern West Virginia; and the Brook Mine property that covers an area of approximately 16,000 acres located in northeastern Wyoming.