Ramaco Resources (NASDAQ:METC) Sets New 52-Week Low – Here’s Why

Ramaco Resources, Inc. (NASDAQ:METC) shares hit a new 52-week low on Wednesday. The company traded as low as $7.77 and last traded at $7.9450, with a volume of 344291 shares changing hands. The stock had previously closed at $8.22.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Morgan Stanley lowered their price target on Ramaco Resources from $13.00 to $11.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 18th. The Goldman Sachs Group decreased their target price on Ramaco Resources from $13.00 to $11.00 and set a “neutral” rating for the company in a report on Thursday, August 6th. Robert W. Baird reiterated a “neutral” rating and issued a $13.00 target price on shares of Ramaco Resources in a research report on Tuesday, August 18th. B. Riley Financial reiterated a “buy” rating on shares of Ramaco Resources in a report on Tuesday, August 18th. Finally, Zacks Research cut shares of Ramaco Resources from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $22.43.

Ramaco Resources Stock Down 3.5%

The company has a quick ratio of 3.31, a current ratio of 4.23 and a debt-to-equity ratio of 1.23. The stock has a market cap of $503.00 million, a PE ratio of -7.42 and a beta of 1.64. The business has a 50 day moving average price of $10.75 and a 200 day moving average price of $12.85.

Ramaco Resources (NASDAQ:METC) last announced its quarterly earnings results on Tuesday, August 4th. The energy company reported ($0.26) earnings per share for the quarter, meeting the consensus estimate of ($0.26). Ramaco Resources had a negative return on equity of 13.54% and a negative net margin of 11.98%.The company had revenue of $122.32 million during the quarter, compared to analysts’ expectations of $133.11 million. Equities research analysts expect that Ramaco Resources, Inc. will post -1.02 EPS for the current fiscal year.

Insider Buying and Selling at Ramaco Resources

In other news, major shareholder Discovery Capital Management, sold 500,000 shares of Ramaco Resources stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $9.57, for a total transaction of $4,785,000.00. Following the completion of the transaction, the insider directly owned 4,811,360 shares of the company’s stock, valued at $46,044,715.20. The trade was a 9.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 46.07% of the stock is currently owned by company insiders.

Institutional Trading of Ramaco Resources

Several hedge funds and other institutional investors have recently added to or reduced their stakes in METC. State Street Corp raised its position in shares of Ramaco Resources by 6.7% in the second quarter. State Street Corp now owns 3,059,847 shares of the energy company’s stock worth $40,482,000 after acquiring an additional 192,663 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Ramaco Resources by 38.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,435,059 shares of the energy company’s stock valued at $22,179,000 after acquiring an additional 398,626 shares during the period. Gratia Capital LLC acquired a new stake in shares of Ramaco Resources during the 2nd quarter valued at about $1,826,000. Quantbot Technologies LP increased its stake in shares of Ramaco Resources by 54.1% in the 2nd quarter. Quantbot Technologies LP now owns 127,404 shares of the energy company’s stock valued at $1,686,000 after purchasing an additional 44,710 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in Ramaco Resources in the 2nd quarter worth about $1,486,000. Institutional investors and hedge funds own 74.49% of the company’s stock.

About Ramaco Resources

Ramaco Resources, Inc is a producer of metallurgical coal, which is used primarily in the manufacture of steel and metallurgical coke. The company develops and operates coal mining properties and sells its products to domestic and international steel, coke and industrial customers.

Ramaco’s operations and development properties are located in major U.S. coal-producing regions, including southern West Virginia, southwestern Virginia and Wyoming. Its portfolio has included the Elk Creek and Berwind mining complexes in West Virginia, the RAM No.