Ramaco Resources (NASDAQ:METC) Hits New 12-Month High - Should You Buy?

Key Points

• Ramaco Resources' stock reached a new 52-week high of $28.30 during trading, closing at $28.18, with a notable trading volume of 3,658,669 shares.
• Analysts have mixed views on the stock, with one cutting its rating to "sell," while others maintained "buy" ratings, leading to an average target price of $21.67.
• Ramaco Resources reported a quarterly revenue of $152.96 million, falling short on earnings per share estimates, while analysts predict a modest EPS of 0.05 for the current year.

Shares of Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report) hit a new 52-week high during trading on Saturday . The company traded as high as $28.30 and last traded at $28.18, with a volume of 3658669 shares trading hands. The stock had previously closed at $24.98.

Analyst Ratings Changes

METC has been the topic of a number of recent research reports. Zacks Research raised Ramaco Resources from a "strong sell" rating to a "hold" rating in a research note on Friday, August 29th. Wall Street Zen lowered Ramaco Resources from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Benchmark reaffirmed a "buy" rating and issued a $24.00 price objective (up from $14.00) on shares of Ramaco Resources in a research note on Tuesday, August 5th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and issued a $27.00 price objective (up from $15.00) on shares of Ramaco Resources in a research note on Wednesday, July 16th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Ramaco Resources presently has an average rating of "Moderate Buy" and an average target price of $21.67.

Ramaco Resources Price Performance

The stock has a market capitalization of $1.41 billion, a P/E ratio of -56.78 and a beta of 1.26. The business has a fifty day simple moving average of $21.21 and a 200-day simple moving average of $13.55. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.84 and a current ratio of 1.36.

Ramaco Resources (NASDAQ:METC - Get Free Report) last posted its quarterly earnings results 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). The business had revenue of $152.96 million for the quarter, compared to the consensus estimate of $131.55 million. Ramaco Resources had a negative return on equity of 5.55% and a negative net margin of 3.17%.Ramaco Resources's quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.08 earnings per share. Sell-side analysts expect that Ramaco Resources, Inc. will post 0.05 earnings per share for the current fiscal year.

Insider Activity

In other Ramaco Resources news, Director Peter A. Leidel sold 1,600,000 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $18.75, for a total transaction of $30,000,000.00. Following the transaction, the director directly owned 2,502,930 shares in the company, valued at approximately $46,929,937.50. This represents a 39.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 36.20% of the company's stock.

Hedge Funds Weigh In On Ramaco Resources

Institutional investors and hedge funds have recently modified their holdings of the business. Brooklyn Investment Group bought a new position in shares of Ramaco Resources during the 1st quarter worth approximately $25,000. Ameritas Investment Partners Inc. boosted its holdings in shares of Ramaco Resources by 63.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,632 shares of the energy company's stock worth $48,000 after buying an additional 1,416 shares in the last quarter. State of Wyoming acquired a new position in shares of Ramaco Resources during the first quarter worth approximately $50,000. AlphaQuest LLC raised its position in shares of Ramaco Resources by 30.6% during the first quarter. AlphaQuest LLC now owns 6,332 shares of the energy company's stock worth $52,000 after purchasing an additional 1,482 shares during the period. Finally, Farther Finance Advisors LLC raised its position in shares of Ramaco Resources by 384.0% during the second quarter. Farther Finance Advisors LLC now owns 3,920 shares of the energy company's stock worth $52,000 after purchasing an additional 3,110 shares during the period. 74.49% of the stock is currently owned by institutional investors.

About Ramaco Resources

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.