Ramaco Resources (NASDAQ:METC) Stock Price Up 4% – Here’s What Happened

Shares of Ramaco Resources, Inc. (NASDAQ:METC) shot up 4% during trading on Monday . The company traded as high as $14.16 and last traded at $13.8350. Approximately 186,771 shares were traded during trading, a decline of 91% from the average session volume of 2,044,682 shares. The stock had previously closed at $13.30.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Robert W. Baird reiterated a “neutral” rating and set a $13.00 target price on shares of Ramaco Resources in a research report on Tuesday, August 18th. Morgan Stanley dropped their price target on shares of Ramaco Resources from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 18th. Wall Street Zen lowered Ramaco Resources from a “sell” rating to a “strong sell” rating in a report on Saturday, August 22nd. Zacks Research cut shares of Ramaco Resources from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th. Finally, Benchmark cut their price target on Ramaco Resources from $38.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. One research 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 assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $22.43.

Ramaco Resources Stock Down 1.6%

The firm has a fifty day simple moving average of $11.72 and a 200 day simple moving average of $13.80. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.31 and a current ratio of 4.23. The company has a market cap of $888.07 million, a PE ratio of -13.09 and a beta of 1.37.

Ramaco Resources (NASDAQ:METC) last released its earnings results on Tuesday, August 4th. The energy company reported ($0.26) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $133.11 million. Equities research analysts predict that Ramaco Resources, Inc. will post -1.02 EPS for the current year.

Insider Activity

In other news, major shareholder Discovery Capital Management, sold 500,000 shares of the company’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $9.57, for a total transaction of $4,785,000.00. Following the completion of the sale, the insider directly owned 4,811,360 shares in the company, valued at $46,044,715.20. This represents a 9.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 46.07% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ramaco Resources

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

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.