Ramaco Resources (NASDAQ:METC) Hits New 1-Year Low - Should You Sell?

Key Points

• Ramaco Resources shares hit a new 52-week low, trading as low as $11.24 and ending the session down about 2.3%. The move comes as investors continue to reassess the stock’s outlook.
• Recent analyst actions have been mixed but mostly cautious: Morgan Stanley cut its price target to $13 and Weiss Ratings reiterated a sell rating, while the consensus view remains Moderate Buy with a $26.43 target price.
• The company’s latest quarterly results disappointed, with EPS of -$0.30 versus expectations for -$0.22 and revenue of $101.41 million below estimates. Ramaco also remains unprofitable, and an insider recently sold 200,000 shares.

Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report)'s share price reached a new 52-week low during trading on Monday . The stock traded as low as $11.24 and last traded at $11.6180, with a volume of 93292 shares. The stock had previously closed at $11.66.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Morgan Stanley lowered their price objective on shares of Ramaco Resources from $17.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 8th. Weiss Ratings restated a "sell (d)" rating on shares of Ramaco Resources in a research note on Thursday, June 18th. B. Riley Financial dropped their price target on shares of Ramaco Resources from $24.00 to $22.00 and set a "buy" rating on the stock in a research note on Wednesday, May 13th. Zacks Research raised shares of Ramaco Resources from a "strong sell" rating to a "hold" rating in a report on Friday, April 10th. Finally, Robert W. Baird reduced their price objective on shares of Ramaco Resources from $30.00 to $25.00 and set an "outperform" rating for the company in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Ramaco Resources has an average rating of "Moderate Buy" and a consensus target price of $26.43.

Ramaco Resources Trading Down 2.3%

The company has a market cap of $742.40 million, a price-to-earnings ratio of -10.36 and a beta of 1.35. The business has a fifty day simple moving average of $14.07 and a 200 day simple moving average of $15.86. The company has a quick ratio of 3.93, a current ratio of 4.88 and a debt-to-equity ratio of 1.06.

Ramaco Resources (NASDAQ:METC - Get Free Report) last posted its quarterly earnings results on Monday, May 11th. The energy company reported ($0.30) earnings per share for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.08). Ramaco Resources had a negative return on equity of 13.44% and a negative net margin of 11.52%.The company had revenue of $101.41 million for the quarter, compared to analyst estimates of $129.72 million. During the same period last year, the company earned ($0.20) earnings per share. The business's revenue for the quarter was down 9.7% compared to the same quarter last year. On average, equities analysts anticipate that Ramaco Resources, Inc. will post -0.58 EPS for the current fiscal year.

Insider Buying and Selling at Ramaco Resources

In related news, major shareholder Discovery Capital Management, sold 200,000 shares of Ramaco Resources stock in a transaction on Friday, May 1st. The stock was sold at an average price of $14.79, for a total transaction of $2,958,000.00. Following the completion of the transaction, the insider directly owned 5,311,360 shares of the company's stock, valued at approximately $78,555,014.40. The trade was a 3.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 46.07% of the stock is currently owned by corporate insiders.

Institutional Trading of Ramaco Resources

Several large investors have recently bought and sold shares of METC. Allworth Financial LP raised its stake in shares of Ramaco Resources by 3,603.6% during the 3rd quarter. Allworth Financial LP now owns 1,037 shares of the energy company's stock worth $34,000 after buying an additional 1,009 shares during the last quarter. Advisory Services Network LLC acquired a new stake in Ramaco Resources in the 3rd quarter valued at about $38,000. Quarry LP purchased a new position in Ramaco Resources during the 4th quarter valued at about $27,000. Caitong International Asset Management Co. Ltd increased its holdings in Ramaco Resources by 14,250.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,722 shares of the energy company's stock valued at $31,000 after acquiring an additional 1,710 shares in the last quarter. Finally, Spirit of America Management Corp NY acquired a new position in Ramaco Resources during the fourth quarter worth about $38,000. Institutional investors and hedge funds own 74.49% of the company's stock.

Ramaco Resources Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.