Ramaco Resources (NASDAQ:METC) Shares Gap Up - Here's What Happened

Key Points

• Ramaco Resources (NASDAQ:METC) shares gapped up from a previous closing price of $26.16 to $27.34 at opening on Tuesday.
• Analysts have mixed ratings on METC, with Zacks upgrading it to "hold," while Jefferies maintained a "buy" rating with a price target of $27.00.
• In its most recent quarter, Ramaco reported a loss of ($0.29) EPS, missing estimates, but revenue increased to $152.96 million, exceeding expectations.

Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report)'s share price gapped up prior to trading on Tuesday . The stock had previously closed at $26.16, but opened at $27.34. Ramaco Resources shares last traded at $26.17, with a volume of 394,836 shares.

Wall Street Analysts Forecast Growth

A number of analysts have commented on METC shares. Jefferies Financial Group lifted their target price on Ramaco Resources from $27.00 to $45.00 and gave the stock a "buy" rating in a report on Thursday. Benchmark reissued a "buy" rating and issued a $24.00 target price (up previously from $14.00) on shares of Ramaco Resources in a report on Tuesday, August 5th. Finally, Zacks Research raised Ramaco Resources from a "strong sell" rating to a "hold" rating in a report on Friday, August 29th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $27.67.

Ramaco Resources Stock Down 1.6%

The company has a market capitalization of $1.68 billion, a PE ratio of -67.60 and a beta of 1.26. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.36 and a quick ratio of 0.84. The company has a 50-day moving average of $23.65 and a two-hundred day moving average of $14.57.

Ramaco Resources (NASDAQ:METC - Get Free Report) last released its 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 analysts' expectations 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 revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.08 earnings per share. Sell-side analysts anticipate that Ramaco Resources, Inc. will post 0.05 earnings per share 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 dated 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 in the company, valued at $46,929,937.50. The trade was a 39.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 36.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Ramaco Resources

A number of hedge funds have recently made changes to their positions in the company. State of Wyoming lifted its position 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 worth $257,000 after buying an additional 13,470 shares in the last quarter. Sender Co & Partners Inc. purchased a new stake in shares of Ramaco Resources in the second quarter worth about $285,000. Vident Advisory LLC purchased a new stake in shares of Ramaco Resources in the second quarter worth about $610,000. Quantinno Capital Management LP lifted its position in shares of Ramaco Resources by 85.1% in the second quarter. Quantinno Capital Management LP now owns 22,963 shares of the energy company's stock worth $302,000 after buying an additional 10,558 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Ramaco Resources by 23.0% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,483 shares of the energy company's stock worth $256,000 after buying an additional 3,638 shares in the last quarter. 74.49% of the stock is currently owned by hedge funds and other institutional investors.

About Ramaco Resources

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.