Ramaco Resources (NASDAQ:METC) Trading Up 6.6% - What's Next?

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) rose 6.6% on Monday . The stock traded as high as $25.59 and last traded at $25.86. Approximately 110,318 shares were traded 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

METC has been the subject of several recent analyst reports. Jefferies Financial Group raised their price objective on shares of Ramaco Resources from $27.00 to $45.00 and gave the stock a "buy" rating in a report on Thursday. Benchmark reaffirmed a "buy" rating and set a $24.00 price objective (up previously from $14.00) on shares of Ramaco Resources in a report on Tuesday, August 5th. Zacks Research raised shares of Ramaco Resources from a "strong sell" rating to a "hold" rating in a report on Friday, August 29th. Finally, Wall Street Zen lowered shares of Ramaco Resources from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $27.67.

Ramaco Resources Price Performance

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's 50 day moving average price is $23.65 and its 200 day moving average price is $14.57. The firm has a market capitalization of $1.68 billion, a P/E ratio of -67.60 and a beta of 1.26.

Ramaco Resources (NASDAQ:METC - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The energy company reported ($0.29) EPS for the quarter, missing the consensus estimate 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 company had revenue of $152.96 million for the quarter, compared to the consensus estimate of $131.55 million. During the same period last year, the company earned $0.08 earnings per share. Ramaco Resources's revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Ramaco Resources, Inc. will post 0.05 EPS for the current fiscal year.

Insider Transactions at Ramaco Resources

In other Ramaco Resources news, Director Peter A. Leidel sold 1,600,000 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $18.75, for a total value of $30,000,000.00. Following the transaction, the director directly owned 2,502,930 shares of the company's stock, valued at approximately $46,929,937.50. This trade represents a 39.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 36.20% of the company's stock.

Hedge Funds Weigh In On Ramaco Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. State of Wyoming boosted its stake 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 acquiring an additional 13,470 shares during the last quarter. Sender Co & Partners Inc. bought a new position in Ramaco Resources in the second quarter valued at approximately $285,000. Vident Advisory LLC bought a new position in Ramaco Resources in the second quarter valued at approximately $610,000. Quantinno Capital Management LP boosted its stake 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 acquiring an additional 10,558 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake 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 acquiring an additional 3,638 shares during the last quarter. 74.49% of the stock is owned by institutional investors.

About Ramaco Resources

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.