Ramaco Resources (NASDAQ:METC) Trading Up 12.5% - Here's What Happened

Key Points

• Ramaco Resources shares surged by 12.5% during mid-day trading, reaching a high of $52.85, following a previous close at $47.85.
• A mix of analyst ratings exists for METC, with Northland Capital raising it to a "strong-buy" while Zacks Research rated it a "strong sell," reflecting varied expert opinions on the stock.
• The company reported a loss of ($0.29) EPS last quarter, missing estimates, although it generated $152.96 million in revenue, exceeding projections.

Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report) shares were up 12.5% during mid-day trading on Thursday . The company traded as high as $52.85 and last traded at $53.84. Approximately 1,154,095 shares were traded during mid-day trading, a decline of 36% from the average daily volume of 1,812,453 shares. The stock had previously closed at $47.85.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on METC shares. Northland Capmk raised Ramaco Resources to a "strong-buy" rating in a research report on Wednesday, October 8th. Zacks Research cut Ramaco Resources from a "hold" rating to a "strong sell" rating in a report on Monday. Weiss Ratings reissued a "hold (c-)" rating on shares of Ramaco Resources in a report on Wednesday, October 8th. Jefferies Financial Group lifted their price target on Ramaco Resources from $27.00 to $45.00 and gave the stock a "buy" rating in a report on Thursday, September 18th. Finally, B. Riley lifted their price target on Ramaco Resources from $14.00 to $50.00 and gave the stock a "buy" rating in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $46.40.

Ramaco Resources Stock Performance

The company has a 50 day moving average price of $30.01 and a 200-day moving average price of $18.29. The company has a current ratio of 1.36, a quick ratio of 0.84 and a debt-to-equity ratio of 0.36. The company has a market cap of $2.78 billion, a P/E ratio of -112.03 and a beta of 1.37.

Ramaco Resources (NASDAQ:METC - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The energy company reported ($0.29) earnings per share (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 business had revenue of $152.96 million during the quarter, compared to the consensus estimate of $131.55 million. During the same quarter in the previous year, the business posted $0.08 EPS. The company's revenue for the quarter was down 1.5% on a year-over-year basis. On average, equities analysts expect that Ramaco Resources, Inc. will post 0.05 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Peter A. Leidel sold 1,600,000 shares of the business's stock in a transaction 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 sale, the director owned 2,502,930 shares in the company, valued at $46,929,937.50. The trade was a 39.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 36.20% of the company's stock.

Institutional Investors Weigh In On Ramaco Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. CenterBook Partners LP grew its position in Ramaco Resources by 151.0% during the 1st quarter. CenterBook Partners LP now owns 1,678,594 shares of the energy company's stock worth $13,815,000 after acquiring an additional 1,009,782 shares during the last quarter. Encompass Capital Advisors LLC bought a new stake in Ramaco Resources during the 1st quarter worth $13,248,000. American Century Companies Inc. grew its position in Ramaco Resources by 8.4% during the 2nd quarter. American Century Companies Inc. now owns 1,028,186 shares of the energy company's stock worth $13,510,000 after acquiring an additional 79,858 shares during the last quarter. Geode Capital Management LLC grew its position in Ramaco Resources by 25.0% during the 2nd quarter. Geode Capital Management LLC now owns 687,343 shares of the energy company's stock worth $9,033,000 after acquiring an additional 137,635 shares during the last quarter. Finally, Acuitas Investments LLC grew its position in Ramaco Resources by 17.3% during the 2nd quarter. Acuitas Investments LLC now owns 363,578 shares of the energy company's stock worth $4,777,000 after acquiring an additional 53,621 shares during the last quarter. Institutional investors own 74.49% of the company's stock.

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.

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