Ramaco Resources (NASDAQ:METC) Shares Cross Below Fifty Day Moving Average - Here's Why

Key Points

• Technical break: Ramaco Resources (METC) crossed below its 50-day moving average of $14.76, trading as low as $14.43 and last at $14.85 on volume of about 1.02 million shares.
• Analyst sentiment: Analysts give an overall "Moderate Buy" consensus with a $32.00 price target, comprising 1 Strong Buy, 4 Buy, 3 Hold and 1 Sell ratings.
• Fundamentals: In its most recent quarter the company reported a ($0.22) EPS (beating estimates by $0.02) on $108.7M revenue (down 25.1% YoY), remains unprofitable with negative margins, and has a market cap near $997M.

Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report) crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $14.76 and traded as low as $14.43. Ramaco Resources shares last traded at $14.85, with a volume of 1,024,912 shares.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group raised shares of Ramaco Resources from a "hold" rating to a "buy" rating and reduced their target price for the stock from $33.00 to $30.00 in a research note on Tuesday, January 20th. Morgan Stanley cut their price target on shares of Ramaco Resources from $17.50 to $17.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 9th. Robert W. Baird cut their price target on shares of Ramaco Resources from $40.00 to $30.00 and set an "outperform" rating on the stock in a research report on Friday, February 27th. The Goldman Sachs Group raised shares of Ramaco Resources from a "sell" rating to a "neutral" rating and boosted their price target for the stock from $14.00 to $15.00 in a research report on Tuesday, April 21st. Finally, Zacks Research raised shares of Ramaco Resources from a "strong sell" rating to a "hold" rating in a research report on Friday, April 10th. One investment 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 issued a Sell rating to the company. According to data from MarketBeat.com, Ramaco Resources presently has an average rating of "Moderate Buy" and a consensus price target of $32.00.

Ramaco Resources Stock Up 2.1%

The firm's 50-day simple moving average is $14.76 and its 200 day simple moving average is $19.77. The company has a debt-to-equity ratio of 0.95, a quick ratio of 4.66 and a current ratio of 5.46. The stock has a market capitalization of $996.73 million, a P/E ratio of -15.00 and a beta of 1.43.

Ramaco Resources (NASDAQ:METC - Get Free Report) last issued its earnings results on Wednesday, February 25th. The energy company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.24) by $0.02. The company had revenue of $108.72 million for the quarter, compared to analysts' expectations of $143.48 million. Ramaco Resources had a negative net margin of 9.59% and a negative return on equity of 12.01%. Ramaco Resources's quarterly revenue was down 25.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.02 EPS. As a group, research analysts expect that Ramaco Resources, Inc. will post -0.04 EPS for the current year.

Institutional Investors Weigh In On Ramaco Resources

A number of institutional investors and hedge funds have recently modified their holdings of METC. Quarry LP bought a new stake in shares of Ramaco Resources in the 4th quarter valued at about $27,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of Ramaco Resources by 14,250.0% in 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 purchasing an additional 1,710 shares during the period. Archer Investment Corp bought a new stake in shares of Ramaco Resources in the 3rd quarter valued at about $33,000. Allworth Financial LP raised its holdings in shares of Ramaco Resources by 3,603.6% in the 3rd quarter. Allworth Financial LP now owns 1,037 shares of the energy company's stock valued at $34,000 after purchasing an additional 1,009 shares during the period. Finally, MCF Advisors LLC bought a new stake in shares of Ramaco Resources in the 3rd quarter valued at about $35,000. 74.49% of the stock is owned by institutional investors.

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.

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