Ramaco Resources (NASDAQ:METC) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Ramaco Resources from “sell” to “strong sell,” while other analysts also lowered ratings or price targets. Despite this, the broader analyst consensus remains “Hold,” with a target price of $22.43.
• Ramaco Resources shares opened at $11.90, near their 50-day average of $11.80 and well below the 12-month high of $57.80. The company reported quarterly revenue of $122.32 million, below the $133.11 million consensus estimate, and analysts expect a full-year loss of $1.02 per share.
• Major shareholder Discovery Capital Management sold 500,000 shares for approximately $4.8 million, reducing its stake by 9.41%. Insiders own 46.07% of the company, while institutional investors hold 74.49%.

Ramaco Resources (NASDAQ:METC - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "sell" rating to a "strong sell" rating in a report issued on Saturday.

Other analysts also recently issued reports about the stock. Weiss Ratings downgraded shares of Ramaco Resources from a "sell (d)" rating to a "sell (d-)" rating in a report on Thursday, August 6th. Zacks Research cut shares of Ramaco Resources from a "hold" rating to a "strong sell" rating in a report on Friday, July 17th. Benchmark dropped their target price on Ramaco Resources from $38.00 to $26.00 and set a "buy" rating on the stock in a research report on Thursday, August 6th. Morgan Stanley cut their price target on Ramaco Resources from $13.00 to $11.00 and set an "equal weight" rating for the company in a research note on Tuesday. Finally, Robert W. Baird reaffirmed a "neutral" rating and issued a $13.00 price target on shares of Ramaco Resources in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $22.43.

Ramaco Resources Price Performance

NASDAQ METC opened at $11.90 on Friday. The firm's fifty day simple moving average is $11.80 and its two-hundred day simple moving average is $14.07. The firm has a market capitalization of $754.34 million, a P/E ratio of -11.12 and a beta of 1.37. The company has a current ratio of 4.23, a quick ratio of 3.31 and a debt-to-equity ratio of 1.23. Ramaco Resources has a 12-month low of $8.56 and a 12-month high of $57.80.

Ramaco Resources (NASDAQ:METC - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The energy company reported ($0.26) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.26). Ramaco Resources had a negative net margin of 11.98% and a negative return on equity of 13.54%. The firm had revenue of $122.32 million for the quarter, compared to the consensus estimate of $133.11 million. Analysts forecast that Ramaco Resources will post -1.02 EPS for the current fiscal year.

Insider Transactions 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 value of $4,785,000.00. Following the completion of the sale, the insider owned 4,811,360 shares of the company's stock, valued at approximately $46,044,715.20. This represents a 9.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 46.07% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ramaco Resources

Hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. grew its stake in shares of Ramaco Resources by 27.0% in the first quarter. Goldman Sachs Group Inc. now owns 274,545 shares of the energy company's stock valued at $2,260,000 after buying an additional 58,304 shares in the last quarter. Empowered Funds LLC lifted its stake in Ramaco Resources by 1.8% during the 1st quarter. Empowered Funds LLC now owns 123,110 shares of the energy company's stock worth $1,013,000 after acquiring an additional 2,223 shares in the last quarter. Rhumbline Advisers boosted its holdings in Ramaco Resources by 40.1% during the 2nd quarter. Rhumbline Advisers now owns 49,605 shares of the energy company's stock valued at $652,000 after acquiring an additional 14,199 shares during the period. Hsbc Holdings PLC boosted its holdings in Ramaco Resources by 91.4% during the 2nd quarter. Hsbc Holdings PLC now owns 27,338 shares of the energy company's stock valued at $358,000 after acquiring an additional 13,053 shares during the period. Finally, New York State Common Retirement Fund grew its position in Ramaco Resources by 144.8% in the 2nd quarter. New York State Common Retirement Fund now owns 32,039 shares of the energy company's stock valued at $421,000 after acquiring an additional 18,951 shares in the last quarter. 74.49% of the stock is currently owned by hedge funds and other institutional investors.

Ramaco Resources Company Profile

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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