Ramaco Resources (NASDAQ:METC) Sets New 1-Year High - Here's What Happened

Key Points

• Ramaco Resources (NASDAQ:METC) reached a new 52-week high, trading as high as $54.10, with a last trading price of $52.42 and a significant volume of over 3.4 million shares.
• Recent analyst upgrades have boosted price targets dramatically, with Jefferies increasing their target to $45.00 and Benchmark raising theirs to $24.00, indicating positive investor sentiment.
• Despite the stock's strong performance, Ramaco reported a net loss of $0.29 per share in its latest earnings release, missing estimates and showing a year-over-year revenue decline of 1.5%.

Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report) shares hit a new 52-week high on Tuesday . The company traded as high as $54.10 and last traded at $52.42, with a volume of 3426602 shares changing hands. The stock had previously closed at $47.20.

Analyst Upgrades and Downgrades

METC has been the topic of a number of research analyst reports. Jefferies Financial Group boosted their price objective on shares of Ramaco Resources from $27.00 to $45.00 and gave the company a "buy" rating in a report on Thursday, September 18th. Benchmark reissued a "buy" rating and set a $24.00 price objective (up from $14.00) on shares of Ramaco Resources in a report on Tuesday, August 5th. Northland Capmk raised shares of Ramaco Resources to a "strong-buy" rating in a report on Wednesday, October 8th. Zacks Research raised shares of Ramaco Resources from a "strong sell" rating to a "hold" rating in a report on Friday, August 29th. Finally, Northland Securities started coverage on shares of Ramaco Resources in a report on Thursday, October 9th. They set an "outperform" rating and a $50.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $42.25.

Ramaco Resources Stock 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 firm's 50-day moving average is $28.83 and its two-hundred day moving average is $17.83. The stock has a market cap of $2.90 billion, a price-to-earnings ratio of -116.49 and a beta of 1.37.

Ramaco Resources (NASDAQ:METC - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The energy company reported ($0.29) earnings per share 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 revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter last year, the company earned $0.08 EPS. As a group, sell-side analysts expect that Ramaco Resources, Inc. will post 0.05 earnings per share for the current year.

Insider Activity

In other news, Director Peter A. Leidel sold 1,600,000 shares of the firm's 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 completion of the sale, 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. 36.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ramaco Resources

Several hedge funds and other institutional investors have recently added to or reduced their stakes in METC. Cox Capital Mgt LLC purchased a new stake in shares of Ramaco Resources during the 3rd quarter worth $1,547,000. State of Wyoming raised its holdings in shares of Ramaco Resources by 219.9% in the second quarter. State of Wyoming now owns 19,596 shares of the energy company's stock valued at $257,000 after buying an additional 13,470 shares during the last quarter. Sender Co & Partners Inc. purchased a new stake in shares of Ramaco Resources in the second quarter valued at about $285,000. Vident Advisory LLC purchased a new position in Ramaco Resources in the 2nd quarter valued at $610,000. Finally, Quantinno Capital Management LP raised its holdings in Ramaco Resources by 85.1% during the second quarter. Quantinno Capital Management LP now owns 22,963 shares of the energy company's stock worth $302,000 after purchasing an additional 10,558 shares in the last quarter. 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.

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