Ramaco Resources (NASDAQ:METC) Trading Down 5.8% - What's Next?

Key Points

• Ramaco Resources' stock price fell by 5.8%, closing at $26.53, with a significant drop in trading volume of 58% from its daily average.
• Equities analysts have mixed ratings for the stock, with Wall Street Zen issuing a "sell" rating while Benchmark and Jefferies reaffirmed "buy" ratings with price targets of $24.00 and $27.00, respectively.
• The company reported a loss in its latest earnings results, with a earnings per share (EPS) of ($0.29), missing estimates, and revenues of $152.96 million, down 1.5% year-over-year.

Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report)'s share price fell 5.8% on Monday . The stock traded as low as $26.01 and last traded at $26.53. 663,248 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 1,588,161 shares. The stock had previously closed at $28.18.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on METC. Wall Street Zen lowered Ramaco Resources from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Jefferies Financial Group restated a "buy" rating and issued a $27.00 price target (up previously from $15.00) on shares of Ramaco Resources in a research note on Wednesday, July 16th. Zacks Research upgraded Ramaco Resources from a "strong sell" rating to a "hold" rating in a research note on Friday, August 29th. Finally, Benchmark reiterated a "buy" rating and issued a $24.00 price objective (up from $14.00) on shares of Ramaco Resources in a report on Tuesday, August 5th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Ramaco Resources presently has a consensus rating of "Moderate Buy" and a consensus target price of $21.67.

Ramaco Resources Trading Up 0.2%

The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of -53.89 and a beta of 1.26. The company has a fifty day moving average price of $22.29 and a two-hundred day moving average price of $13.92. The company has a current ratio of 1.36, a quick ratio of 0.84 and a debt-to-equity ratio of 0.36.

Ramaco Resources (NASDAQ:METC - Get Free Report) last issued 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 analyst estimates of $131.55 million. Ramaco Resources had a negative return on equity of 5.55% and a negative net margin of 3.17%.The company's revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.08 earnings per share. As a group, research analysts forecast 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 Ramaco Resources stock in a transaction that occurred on 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 sale, the director owned 2,502,930 shares of the company's stock, valued at approximately $46,929,937.50. The trade was a 39.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 36.20% of the company's stock.

Institutional Trading of Ramaco Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. State of Wyoming raised its position in Ramaco Resources by 219.9% in the second quarter. State of Wyoming now owns 19,596 shares of the energy company's stock valued at $257,000 after purchasing an additional 13,470 shares during the period. Sender Co & Partners Inc. purchased a new stake in Ramaco Resources in the second quarter valued at approximately $285,000. Vident Advisory LLC purchased a new stake in Ramaco Resources in the second quarter valued at approximately $610,000. Quantinno Capital Management LP raised its position in Ramaco Resources by 85.1% in the second quarter. Quantinno Capital Management LP now owns 22,963 shares of the energy company's stock valued at $302,000 after purchasing an additional 10,558 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in 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 valued at $256,000 after purchasing an additional 3,638 shares during the period. 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.