Ramaco Resources (NASDAQ:METC) Sees Unusually-High Trading Volume - Here's Why

Key Points

• Ramaco Resources experienced an increase in trading volume with approximately 3.38 million shares changing hands, a 163% rise from the previous session.
• Analysts have shown mixed sentiments towards Ramaco Resources, with Benchmark and Jefferies issuing buy ratings and raising their price targets, while B. Riley and Wall Street Zen adjusted their outlooks downward.
• The company reported a quarterly loss with an EPS of ($0.29) which missed expectations, yet its revenue of $152.96 million exceeded analysts’ forecasts of $131.55 million.

Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report) shares saw unusually-strong trading volume on Wednesday . Approximately 3,382,472 shares were traded during mid-day trading, an increase of 163% from the previous session's volume of 1,285,055 shares.The stock last traded at $19.41 and had previously closed at $23.14.

Analyst Upgrades and Downgrades

METC has been the subject of a number of research reports. Benchmark reaffirmed a "buy" rating and issued a $24.00 target price (up from $14.00) on shares of Ramaco Resources in a report on Tuesday. Jefferies Financial Group reiterated a "buy" rating and issued a $27.00 target price (up from $15.00) on shares of Ramaco Resources in a research note on Wednesday, July 16th. B. Riley decreased their price target on Ramaco Resources from $18.00 to $14.00 and set a "buy" rating for the company in a report on Friday, April 11th. Finally, Wall Street Zen cut shares of Ramaco Resources from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd.

Ramaco Resources Trading Down 13.2%

The company has a market cap of $894.36 million, a price-to-earnings ratio of -44.72 and a beta of 1.35. The business has a fifty day simple moving average of $14.69 and a 200 day simple moving average of $11.15. The company has a quick ratio of 0.87, a current ratio of 1.36 and a debt-to-equity ratio of 0.36.

Ramaco Resources (NASDAQ:METC - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The energy company reported ($0.29) 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 analysts' expectations of $131.55 million. During the same period in the prior year, the firm posted $0.08 EPS. The firm's quarterly revenue was down 1.5% on a year-over-year basis. On average, equities analysts anticipate that Ramaco Resources, Inc. will post 0.05 EPS for the current fiscal year.

Ramaco Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were issued a dividend of $0.0688 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.28 annualized dividend and a yield of 1.4%. Ramaco Resources's payout ratio is currently -62.22%.

Institutional Trading of Ramaco Resources

Large investors have recently bought and sold shares of the company. Cetera Investment Advisers raised its position in Ramaco Resources by 27.3% during the fourth quarter. Cetera Investment Advisers now owns 12,872 shares of the energy company's stock worth $132,000 after acquiring an additional 2,760 shares during the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of Ramaco Resources by 59.4% in the first quarter. Exchange Traded Concepts LLC now owns 69,763 shares of the energy company's stock worth $574,000 after acquiring an additional 25,992 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Ramaco Resources by 3.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 41,656 shares of the energy company's stock valued at $427,000 after purchasing an additional 1,425 shares during the last quarter. CenterBook Partners LP grew its holdings in shares of Ramaco Resources by 151.0% during the first quarter. CenterBook Partners LP now owns 1,678,594 shares of the energy company's stock worth $13,815,000 after buying an additional 1,009,782 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its stake in shares of Ramaco Resources by 13.9% during the fourth quarter. MetLife Investment Management LLC now owns 16,189 shares of the energy company's stock valued at $166,000 after buying an additional 1,970 shares during the period. Institutional investors and hedge funds own 74.49% of the company's stock.

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.

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