Ramaco Resources (NASDAQ:METC) Sets New 12-Month Low – What’s Next?

Shares of Ramaco Resources, Inc. (NASDAQ:METC) hit a new 52-week low on Monday . The company traded as low as $9.05 and last traded at $9.05, with a volume of 19526 shares changing hands. The stock had previously closed at $9.17.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on METC. The Goldman Sachs Group dropped their price objective on shares of Ramaco Resources from $16.00 to $13.00 and set a “neutral” rating for the company in a research report on Thursday, July 9th. Morgan Stanley reduced their target price 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. Zacks Research cut shares of Ramaco Resources from a “hold” rating to a “strong sell” rating in a research report on Friday, July 17th. Robert W. Baird lowered their price target on Ramaco Resources from $30.00 to $25.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. Finally, B. Riley Financial cut their price objective on Ramaco Resources from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $26.43.

Ramaco Resources Stock Down 4.2%

The stock has a market capitalization of $572.74 million, a price-to-earnings ratio of -7.95 and a beta of 1.37. The firm has a 50-day moving average of $13.28 and a 200 day moving average of $15.24. The company has a current ratio of 4.88, a quick ratio of 3.93 and a debt-to-equity ratio of 1.06.

Ramaco Resources (NASDAQ:METC) last issued its quarterly earnings data on Monday, May 11th. The energy company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.08). The firm had revenue of $101.41 million during the quarter, compared to analyst estimates of $129.72 million. Ramaco Resources had a negative net margin of 11.52% and a negative return on equity of 13.44%. The firm’s revenue was down 9.7% compared to the same quarter last year. During the same period last year, the business earned ($0.20) EPS. On average, sell-side analysts anticipate that Ramaco Resources, Inc. will post -0.58 earnings per share for the current year.

Institutional Investors Weigh In On Ramaco Resources

A number of large investors have recently added to or reduced their stakes in METC. Bridgeway Capital Management LLC lifted its holdings in Ramaco Resources by 0.4% in the 3rd quarter. Bridgeway Capital Management LLC now owns 122,998 shares of the energy company’s stock worth $4,082,000 after buying an additional 536 shares in the last quarter. Allworth Financial LP grew its stake in shares of Ramaco Resources by 3,603.6% during the third quarter. Allworth Financial LP now owns 1,037 shares of the energy company’s stock valued at $34,000 after acquiring an additional 1,009 shares in the last quarter. Advisory Services Network LLC acquired a new stake in shares of Ramaco Resources during the third quarter valued at about $38,000. Police & Firemen s Retirement System of New Jersey increased its position in shares of Ramaco Resources by 16.0% during the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 9,549 shares of the energy company’s stock worth $172,000 after acquiring an additional 1,317 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Ramaco Resources by 51.4% during the fourth quarter. Russell Investments Group Ltd. now owns 3,917 shares of the energy company’s stock worth $71,000 after acquiring an additional 1,330 shares during the last quarter. 74.49% of the stock is owned by institutional investors and hedge funds.

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.