Ramaco Resources (NASDAQ:METC) Hits New 12-Month High on Analyst Upgrade

Key Points

• Ramaco Resources reached a new 52-week high of $29.34 after Jefferies Financial Group raised its price target from $27 to $45, maintaining a buy rating on the stock.
• Insider trading revealed that Director Peter A. Leidel sold 1.6 million shares at $18.75 each, reducing his stake in the company by 39%.
• Analysts have mixed ratings on Ramaco Resources, with three investment analysts rating it as a buy and one as a hold, while the average target price is currently $27.67.

Shares of Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report) reached a new 52-week high during trading on Thursday after Jefferies Financial Group raised their price target on the stock from $27.00 to $45.00. Jefferies Financial Group currently has a buy rating on the stock. Ramaco Resources traded as high as $29.34 and last traded at $28.92, with a volume of 565554 shares changing hands. The stock had previously closed at $26.06.

Other equities research analysts have also issued reports about the stock. Benchmark reiterated 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 report on Thursday, May 22nd. Finally, Zacks Research upgraded shares of Ramaco Resources from a "strong sell" rating to a "hold" rating in a report on Friday, August 29th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $27.67.

Insider Buying and Selling

In other news, Director Peter A. Leidel sold 1,600,000 shares of the company'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 value of $30,000,000.00. Following the transaction, the director owned 2,502,930 shares in the company, valued at approximately $46,929,937.50. This represents a 39.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 36.20% of the company's stock.

Institutional Trading of Ramaco Resources

A number of institutional investors and hedge funds have recently modified their holdings of the business. CenterBook Partners LP increased its holdings in shares of Ramaco Resources by 151.0% in the 1st quarter. CenterBook Partners LP now owns 1,678,594 shares of the energy company's stock worth $13,815,000 after purchasing an additional 1,009,782 shares in the last quarter. Encompass Capital Advisors LLC bought a new stake in shares of Ramaco Resources in the 1st quarter worth $13,248,000. American Century Companies Inc. lifted its holdings in shares of Ramaco Resources by 8.4% during the 2nd quarter. American Century Companies Inc. now owns 1,028,186 shares of the energy company's stock valued at $13,510,000 after buying an additional 79,858 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Ramaco Resources by 25.0% during the 2nd quarter. Geode Capital Management LLC now owns 687,343 shares of the energy company's stock valued at $9,033,000 after buying an additional 137,635 shares during the period. Finally, Acuitas Investments LLC lifted its holdings in shares of Ramaco Resources by 17.3% during the 2nd quarter. Acuitas Investments LLC now owns 363,578 shares of the energy company's stock valued at $4,777,000 after buying an additional 53,621 shares during the period. Institutional investors own 74.49% of the company's stock.

Ramaco Resources Price Performance

The firm has a fifty day moving average price of $23.65 and a two-hundred day moving average price of $14.65. The stock has a market capitalization of $1.67 billion, a P/E ratio of -67.29 and a beta of 1.26. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.84 and a current ratio of 1.36.

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 firm had revenue of $152.96 million for the quarter, compared to the consensus estimate of $131.55 million. Ramaco Resources had a negative net margin of 3.17% and a negative return on equity of 5.55%. Ramaco Resources's quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.08 earnings per share. As a group, analysts expect that Ramaco Resources, Inc. will post 0.05 EPS for the current fiscal year.

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.