Ramaco Resources (NASDAQ:METC) Shares Gap Up - Should You Buy?

Key Points

• Ramaco Resources shares opened at $43.54, up from a previous close of $41.49, with a last traded price of $46.12.
• Analysts have varying views on the stock, with new price targets set between $24.00 and $50.00, generally indicating a Moderate Buy consensus rating.
• The company's quarterly earnings revealed a loss of ($0.29) EPS, missing expectations, despite revenue of $152.96 million, which was above analyst estimates.

Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $41.49, but opened at $43.54. Ramaco Resources shares last traded at $46.12, with a volume of 491,934 shares.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Zacks Research upgraded shares of Ramaco Resources from a "strong sell" rating to a "hold" rating in a report on Friday, August 29th. Jefferies Financial Group raised their price target on shares of Ramaco Resources from $27.00 to $45.00 and gave the stock a "buy" rating in a report on Thursday, September 18th. Benchmark reiterated 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. B. Riley lifted their target price on shares of Ramaco Resources from $14.00 to $50.00 and gave the company a "buy" rating in a report on Wednesday. Finally, Northland Securities began coverage on shares of Ramaco Resources in a report on Thursday. They issued an "outperform" rating and a $50.00 target price for the company. Four 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.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $42.25.

Ramaco Resources Trading Up 11.7%

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 market capitalization of $2.56 billion, a price-to-earnings ratio of -102.96 and a beta of 1.37. The business's 50 day simple moving average is $27.13 and its 200 day simple moving average is $16.87.

Ramaco Resources (NASDAQ:METC - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The energy company reported ($0.29) EPS for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.07). Ramaco Resources had a negative net margin of 3.17% and a negative return on equity of 5.55%. The business had revenue of $152.96 million during the quarter, compared to analyst estimates of $131.55 million. During the same quarter in the prior year, the firm posted $0.08 earnings per share. The company's revenue for the quarter was down 1.5% compared to the same quarter last year. Research analysts anticipate that Ramaco Resources, Inc. will post 0.05 EPS for the current year.

Insider Activity

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 shares were sold at an average price of $18.75, for a total transaction 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 SEC, which is available through this link. 36.20% of the stock is currently owned by company insiders.

Institutional Trading of Ramaco Resources

A number of institutional investors have recently added to or reduced their stakes in the stock. Cox Capital Mgt LLC purchased a new stake in Ramaco Resources during the third quarter worth about $1,547,000. State of Wyoming boosted its holdings in Ramaco Resources by 219.9% during 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 Ramaco Resources during the second quarter worth about $285,000. Vident Advisory LLC purchased a new stake in Ramaco Resources during the second quarter worth about $610,000. Finally, Quantinno Capital Management LP boosted its holdings in Ramaco Resources by 85.1% during 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. Hedge funds and other 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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