Ramaco Resources (NASDAQ:METC) Sets New 1-Year High - Time to Buy?

Key Points

• Ramaco Resources, Inc. (NASDAQ:METC) reached a new 52-week high at $42.61, closing at $40.70 with significant trading volume of over 3 million shares.
• Analysts' ratings for METC include a "buy" from Benchmark with a revised target price of $24.00, and Jefferies increased their target to $45.00, indicating a positive outlook for the stock.
• Despite a decrease in revenue year-over-year, Ramaco reported a quarterly revenue of $152.96 million, exceeding analyst expectations of $131.55 million.

Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report) reached a new 52-week high on Wednesday . The company traded as high as $42.61 and last traded at $40.70, with a volume of 3114833 shares changing hands. The stock had previously closed at $38.93.

Wall Street Analyst Weigh In

METC has been the topic of a number of recent research reports. Benchmark reaffirmed 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. Jefferies Financial Group lifted their price objective on Ramaco Resources from $27.00 to $45.00 and gave the company a "buy" rating in a report on Thursday, September 18th. Zacks Research raised Ramaco Resources from a "strong sell" rating to a "hold" rating in a report on Friday, August 29th. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Ramaco Resources in a report on Saturday, September 27th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $27.67.

Ramaco Resources Stock Up 4.5%

The firm has a market capitalization of $2.25 billion, a price-to-earnings ratio of -90.44 and a beta of 1.37. 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 has a fifty day moving average price of $26.70 and a 200 day moving average price of $16.70.

Ramaco Resources (NASDAQ:METC - Get Free Report) last announced its earnings results on Thursday, July 31st. The energy company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.07). The business had revenue of $152.96 million during 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 was down 1.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.08 earnings per share. Sell-side analysts anticipate 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 business's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $18.75, for a total value of $30,000,000.00. Following the transaction, the director directly owned 2,502,930 shares of the company's stock, valued at $46,929,937.50. The trade was a 39.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 36.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of METC. Brooklyn Investment Group bought a new position in Ramaco Resources in the 1st quarter worth approximately $25,000. Ameritas Investment Partners Inc. raised its position in Ramaco Resources by 63.9% in the 2nd 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 last quarter. State of Wyoming bought a new position in Ramaco Resources in the 1st quarter worth approximately $50,000. AlphaQuest LLC raised its position in Ramaco Resources by 30.6% in the 1st 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 last quarter. Finally, Farther Finance Advisors LLC raised its position in Ramaco Resources by 384.0% in 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. 74.49% of the stock is owned by institutional investors and hedge funds.

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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