Ramaco Resources (NASDAQ:METC) Trading 6.6% Higher - Time to Buy?

Key Points

• Ramaco Resources (NASDAQ:METC) saw a 6.6% increase in trading, with shares last priced at $25.86, although the trading volume was significantly lower than average.
• Analysts have mixed ratings for Ramaco, with Benchmark maintaining a "buy" rating and a price target increase to $24, while Wall Street Zen downgraded the stock from "hold" to "sell".
• In a recent quarterly earnings report, Ramaco reported a loss of ($0.29) per share, missing expectations but achieving revenue of $152.96 million, higher than anticipated.

Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report) was up 6.6% during trading on Monday . The stock traded as high as $25.59 and last traded at $25.86. Approximately 110,318 shares traded hands during trading, a decline of 93% from the average daily volume of 1,604,653 shares. The stock had previously closed at $24.25.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on METC shares. Benchmark reaffirmed a "buy" rating and set a $24.00 price target (up previously from $14.00) on shares of Ramaco Resources in a research report on Tuesday, August 5th. Wall Street Zen lowered shares of Ramaco Resources from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Zacks Research raised shares of Ramaco Resources from a "strong sell" rating to a "hold" rating in a report on Friday, August 29th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $27.00 price objective (up from $15.00) on shares of Ramaco Resources in a report on Wednesday, July 16th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $21.67.

Ramaco Resources Stock Performance

The firm has a 50 day moving average price of $22.29 and a 200 day moving average price of $13.98. The stock has a market cap of $1.45 billion, a PE ratio of -58.01 and a beta of 1.26. The company has a quick ratio of 0.84, a current ratio of 1.36 and a debt-to-equity ratio of 0.36.

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

Insider Activity at Ramaco Resources

In other news, Director Peter A. Leidel sold 1,600,000 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $18.75, for a total transaction of $30,000,000.00. Following the transaction, the director owned 2,502,930 shares in the company, valued at $46,929,937.50. This trade represents a 39.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 36.20% of the stock is owned by insiders.

Institutional Trading of Ramaco Resources

A number of hedge funds and other institutional investors have recently modified their holdings of METC. State of Wyoming boosted its holdings 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 in the last quarter. Sender Co & Partners Inc. purchased a new position in shares of Ramaco Resources in the 2nd quarter worth about $285,000. Vident Advisory LLC purchased a new stake in shares of Ramaco Resources during the 2nd quarter valued at about $610,000. Quantinno Capital Management LP grew its stake in Ramaco Resources by 85.1% during the 2nd 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 in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Ramaco Resources by 23.0% during the 2nd 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 in the last quarter. 74.49% of the stock is owned by institutional investors and hedge funds.

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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