Ramaco Resources (NASDAQ:METC) Shares Down 4.7% – What’s Next?

Ramaco Resources, Inc. (NASDAQ:METC) fell 4.7% during trading on Friday . The stock traded as low as $15.43 and last traded at $15.8580. 2,802,787 shares changed hands during mid-day trading, an increase of 34% from the average session volume of 2,088,594 shares. The stock had previously closed at $16.64.

Analyst Ratings Changes

Several brokerages have recently issued reports on METC. Northland Capmk raised Ramaco Resources to a “strong-buy” rating in a research note on Wednesday, October 8th. The Goldman Sachs Group started coverage on Ramaco Resources in a report on Wednesday. They set a “sell” rating and a $16.00 price objective for the company. Zacks Research lowered shares of Ramaco Resources from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th. Northland Securities set a $44.00 price target on shares of Ramaco Resources in a research report on Wednesday, October 29th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Ramaco Resources in a research note on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $37.33.

Ramaco Resources Stock Performance

The stock has a market cap of $1.05 billion, a P/E ratio of -23.71 and a beta of 1.28. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.97 and a quick ratio of 2.24. The stock’s 50 day simple moving average is $32.62 and its two-hundred day simple moving average is $22.07.

Ramaco Resources (NASDAQ:METC) last issued its quarterly earnings data on Monday, October 27th. The energy company reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.05. The business had revenue of $104.87 million for the quarter, compared to analyst estimates of $137.63 million. Ramaco Resources had a negative net margin of 5.67% and a negative return on equity of 8.26%. The firm’s quarterly revenue was down 27.7% on a year-over-year basis. During the same period last year, the business posted ($0.03) earnings per share. As a group, research analysts forecast that Ramaco Resources, Inc. will post 0.05 EPS for the current year.

Institutional Trading of Ramaco Resources

A number of institutional investors have recently modified their holdings of the company. Brooklyn Investment Group acquired a new position in shares of Ramaco Resources during the first quarter worth about $25,000. Archer Investment Corp bought a new stake in Ramaco Resources in the 3rd quarter valued at approximately $33,000. MCF Advisors LLC bought a new stake in Ramaco Resources in the 3rd quarter valued at approximately $35,000. Advisory Services Network LLC acquired a new position in Ramaco Resources during the 3rd quarter worth approximately $38,000. Finally, Ameritas Investment Partners Inc. grew its stake in shares of Ramaco Resources by 63.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,632 shares of the energy company’s stock worth $48,000 after acquiring an additional 1,416 shares in the last quarter. 74.49% of the stock is currently 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.