Ramaco Resources (NASDAQ:METC) Shares Gap Down - Should You Sell?

Key Points

• Shares of Ramaco Resources gapped down from a previous close of $49.48 to open at $44.92, with the latest trading price around $46.40 and a trading volume of 1,391,063 shares.
• Multiple analysts have varied ratings on the stock, with Jefferies Financial Group upping their target price to $45.00 and Zacks lowering its rating to a "strong sell," resulting in an average consensus of a "Moderate Buy."
• The company's latest earnings report showed a loss of ($0.29) earnings per share, missing estimates and reflecting a year-over-year revenue decrease of 1.5%, while institutional investors now own 74.49% of the stock.

Shares of Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $49.48, but opened at $44.92. Ramaco Resources shares last traded at $46.40, with a volume of 1,391,063 shares traded.

Wall Street Analyst Weigh In

METC has been the topic of a number of recent research reports. Jefferies Financial Group upped their target price on shares of Ramaco Resources from $27.00 to $45.00 and gave the stock a "buy" rating in a research note on Thursday, September 18th. Baird R W upgraded shares of Ramaco Resources to a "strong-buy" rating in a research note on Thursday. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Ramaco Resources in a report on Wednesday, October 8th. Northland Capmk upgraded shares of Ramaco Resources to a "strong-buy" rating in a research note on Wednesday, October 8th. Finally, Zacks Research lowered shares of Ramaco Resources from a "hold" rating to a "strong sell" rating in a research report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Ramaco Resources currently has an average rating of "Moderate Buy" and a consensus price target of $46.40.

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 company has a 50-day moving average of $30.56 and a 200-day moving average of $18.57. The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of -104.30 and a beta of 1.37.

Ramaco Resources (NASDAQ:METC - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The energy company reported ($0.29) earnings per share (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 analysts' expectations 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% on a year-over-year basis. During the same period in the prior year, the company posted $0.08 earnings per share. On average, equities research analysts forecast that Ramaco Resources, Inc. will post 0.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Peter A. Leidel sold 1,600,000 shares of the business's stock in a transaction 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 sale, the director 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 36.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Ramaco Resources

Several institutional investors and hedge funds have recently bought and sold shares of the business. CWM LLC increased its stake in shares of Ramaco Resources by 6,617.1% during the third quarter. CWM LLC now owns 15,315 shares of the energy company's stock worth $508,000 after purchasing an additional 15,087 shares during the period. DAVENPORT & Co LLC boosted its holdings in shares of Ramaco Resources by 8.6% in the 3rd quarter. DAVENPORT & Co LLC now owns 23,973 shares of the energy company's stock valued at $796,000 after purchasing an additional 1,900 shares in the last quarter. Shikiar Asset Management Inc. bought a new position in shares of Ramaco Resources in the 3rd quarter valued at $1,162,000. Confluence Investment Management LLC bought a new position in shares of Ramaco Resources in the 3rd quarter valued at $406,000. Finally, Exchange Traded Concepts LLC lifted its stake in shares of Ramaco Resources by 29.3% in the 3rd quarter. Exchange Traded Concepts LLC now owns 68,230 shares of the energy company's stock valued at $2,265,000 after acquiring an additional 15,472 shares during the last quarter. 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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