Ramaco Resources (NASDAQ:METC) Stock Price Down 6.4% - Here's Why

Key Points

• Ramaco Resources shares fell 6.4% to about $11.47 in midday trading, with volume down 87% from the average session.
• Analyst sentiment weakened, including Morgan Stanley cutting its price target from $17 to $13 and Zacks Research downgrading the stock to “strong sell.” The consensus rating remains “Hold,” with an average target price of $22.71.
• The company reported a quarterly loss of $0.26 per share in line with estimates, but revenue of $122.32 million fell short of the $133.11 million consensus forecast; a major shareholder also sold 500,000 shares.

Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report)'s share price was down 6.4% during mid-day trading on Monday . The stock traded as low as $11.32 and last traded at $11.4660. 260,387 shares were traded during trading, a decline of 87% from the average session volume of 2,047,048 shares. The stock had previously closed at $12.25.

Analysts Set New Price Targets

Several research firms have commented on METC. Morgan Stanley lowered their price target on shares of Ramaco Resources from $17.00 to $13.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 8th. Wall Street Zen raised Ramaco Resources from a "strong sell" rating to a "sell" rating in a report on Saturday, August 8th. Weiss Ratings downgraded Ramaco Resources from a "sell (d)" rating to a "sell (d-)" rating in a research note on Thursday, August 6th. Zacks Research lowered Ramaco Resources from a "hold" rating to a "strong sell" rating in a report on Friday, July 17th. Finally, Robert W. Baird set a $13.00 price target on Ramaco Resources in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $22.71.

Ramaco Resources Stock Down 3.4%

The company has a quick ratio of 3.31, a current ratio of 4.23 and a debt-to-equity ratio of 1.23. The business has a 50-day simple moving average of $12.11 and a 200-day simple moving average of $14.36. The company has a market cap of $750.16 million, a PE ratio of -11.08 and a beta of 1.37.

Ramaco Resources (NASDAQ:METC - Get Free Report) last announced its earnings results on Tuesday, August 4th. The energy company reported ($0.26) earnings per share for the quarter, hitting the consensus estimate of ($0.26). Ramaco Resources had a negative return on equity of 13.54% and a negative net margin of 11.98%.The business had revenue of $122.32 million during the quarter, compared to the consensus estimate of $133.11 million. Equities research analysts anticipate that Ramaco Resources, Inc. will post -0.76 EPS for the current year.

Insider Activity at Ramaco Resources

In related news, major shareholder Discovery Capital Management, sold 500,000 shares of the company's stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $9.57, for a total transaction of $4,785,000.00. Following the completion of the transaction, the insider owned 4,811,360 shares in the company, valued at $46,044,715.20. This represents a 9.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 46.07% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ramaco Resources

Several large investors have recently bought and sold shares of METC. State Street Corp lifted its position in shares of Ramaco Resources by 10.2% in the fourth quarter. State Street Corp now owns 2,489,797 shares of the energy company's stock valued at $44,816,000 after acquiring an additional 230,197 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Ramaco Resources by 0.7% during the fourth quarter. Renaissance Technologies LLC now owns 1,526,164 shares of the energy company's stock worth $27,471,000 after purchasing an additional 9,860 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Ramaco Resources by 38.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,435,059 shares of the energy company's stock valued at $22,179,000 after purchasing an additional 398,626 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Ramaco Resources by 74.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,160,898 shares of the energy company's stock valued at $20,896,000 after purchasing an additional 496,150 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Ramaco Resources by 20.1% in the 4th quarter. Geode Capital Management LLC now owns 978,950 shares of the energy company's stock valued at $17,625,000 after purchasing an additional 163,971 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 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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