Ramaco Resources (NASDAQ:METC) Trading 7.7% Higher – Here’s What Happened

by · The Markets Daily

Ramaco Resources, Inc. (NASDAQ:METC – Get Free Report) shares traded up 7.7% during mid-day trading on Tuesday . The company traded as high as $15.72 and last traded at $16.1080. 187,038 shares changed hands during trading, a decline of 91% from the average session volume of 2,085,702 shares. The stock had previously closed at $14.95.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Baird R W upgraded shares of Ramaco Resources to a “strong-buy” rating in a report on Thursday, October 16th. Northland Capmk raised shares of Ramaco Resources to a “strong-buy” rating in a research note on Wednesday, October 8th. Zacks Research cut shares of Ramaco Resources from a “hold” rating to a “strong sell” rating in a research report on Monday, October 13th. The Goldman Sachs Group began coverage on Ramaco Resources in a report on Wednesday, November 19th. They issued a “sell” rating and a $16.00 price target for the company. Finally, Jefferies Financial Group lowered Ramaco Resources from a “buy” rating to a “hold” rating and cut their price objective for the company from $45.00 to $33.00 in a research report on Tuesday, October 28th. Two 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 issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $37.33.

Get Our Latest Stock Analysis on Ramaco Resources

Ramaco Resources Stock Performance

The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.24 and a current ratio of 2.97. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of -23.12 and a beta of 1.42. The company’s fifty day simple moving average is $30.96 and its two-hundred day simple moving average is $22.56.

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

Institutional Investors Weigh In On Ramaco Resources

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bridgeway Capital Management LLC grew its holdings in Ramaco Resources by 0.4% during the third quarter. Bridgeway Capital Management LLC now owns 122,998 shares of the energy company’s stock worth $4,082,000 after acquiring an additional 536 shares during the period. AlphaQuest LLC lifted its holdings in Ramaco Resources by 12.6% in the 3rd quarter. AlphaQuest LLC now owns 5,460 shares of the energy company’s stock valued at $181,000 after acquiring an additional 610 shares during the last quarter. Archer Investment Corp bought a new position in shares of Ramaco Resources during the 3rd quarter valued at about $33,000. MCF Advisors LLC acquired a new position in shares of Ramaco Resources in the 3rd quarter worth approximately $35,000. Finally, Advisory Services Network LLC acquired a new stake in Ramaco Resources during the third quarter valued at approximately $38,000. 74.49% of the stock is currently owned by institutional investors.

About Ramaco Resources

(Get Free Report)

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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