Ramaco Resources (NASDAQ:METC) Sets New 52-Week High - Time to 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.

Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report)'s stock price hit a new 52-week high 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 subject of a number of analyst reports. Zacks Research raised Ramaco Resources from a "strong sell" rating to a "hold" rating in a report on Friday, August 29th. Benchmark reissued a "buy" rating and set a $24.00 price target (up from $14.00) on shares of Ramaco Resources in a report on Tuesday, August 5th. Wall Street Zen cut shares of Ramaco Resources from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $27.00 price objective (up previously from $15.00) on shares of Ramaco Resources in a report 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 company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $21.67.

Ramaco Resources Stock Performance

The stock has a 50 day moving average price of $22.05 and a two-hundred day moving average price of $13.82. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.36 and a quick ratio of 0.84. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of -53.76 and a beta of 1.26.

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

Insider Activity at Ramaco Resources

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

Institutional Investors Weigh In On Ramaco Resources

Hedge funds and other institutional investors have recently made changes to their positions in the company. Brooklyn Investment Group bought a new stake in shares of Ramaco Resources during the first quarter worth $25,000. Ameritas Investment Partners Inc. increased its position in Ramaco Resources by 63.9% in the second quarter. Ameritas Investment Partners Inc. now owns 3,632 shares of the energy company's stock worth $48,000 after purchasing an additional 1,416 shares during the period. Farther Finance Advisors LLC raised its holdings in Ramaco Resources by 384.0% during the 2nd 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 last quarter. State of Wyoming acquired a new position in Ramaco Resources during the 1st quarter valued at about $50,000. Finally, AlphaQuest LLC lifted its position in Ramaco Resources by 30.6% during the 1st quarter. AlphaQuest LLC now owns 6,332 shares of the energy company's stock valued at $52,000 after purchasing an additional 1,482 shares during the period. 74.49% of the stock is owned by institutional investors and hedge funds.

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.