Key Points
- Ramaco Resources director Peter Leidel sold 200,000 shares on March 20 at an average price of $13.48, generating about $2.7 million and reducing his position by 8.23%.
- The company recently posted weaker-than-expected quarterly results, missing EPS and revenue estimates as revenue fell 9.7% year over year and losses remained elevated.
- Despite near-term pressure, analysts remain cautiously positive: the stock carries a consensus “Moderate Buy” rating, though several firms have recently trimmed price targets.
Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report) Director Peter Leidel sold 6,081 shares of the stock in a transaction on Monday, March 30th. The stock was sold at an average price of $10.34, for a total value of $62,877.54. Following the completion of the transaction, the director directly owned 814,793 shares in the company, valued at $8,424,959.62. This trade represents a 0.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Ramaco Resources Trading Down 3.5%
Shares of METC opened at $14.28 on Thursday. The company has a current ratio of 4.88, a quick ratio of 3.93 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $930.70 million, a P/E ratio of -12.98 and a beta of 1.31. The stock's fifty day simple moving average is $14.85 and its 200 day simple moving average is $16.46. Ramaco Resources, Inc. has a twelve month low of $9.70 and a twelve month high of $57.80.
Ramaco Resources (NASDAQ:METC - Get Free Report) last issued its earnings results on Monday, May 11th. The energy company reported ($0.30) earnings per share 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 analysts' expectations of $129.72 million. Ramaco Resources had a negative return on equity of 13.44% and a negative net margin of 11.52%.The company's quarterly revenue was down 9.7% compared to the same quarter last year. During the same period last year, the business posted ($0.20) earnings per share. On average, equities research analysts forecast that Ramaco Resources, Inc. will post -0.23 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on the stock. B. Riley Financial decreased their price target on shares of Ramaco Resources from $24.00 to $22.00 and set a "buy" rating for the company in a research report on Wednesday, May 13th. Zacks Research raised shares of Ramaco Resources from a "strong sell" rating to a "hold" rating in a research report on Friday, April 10th. Robert W. Baird decreased their price target on shares of Ramaco Resources from $30.00 to $25.00 and set an "outperform" rating for the company in a research report on Wednesday, May 13th. Morgan Stanley decreased their price target on shares of Ramaco Resources from $17.50 to $17.00 and set an "equal weight" rating for the company in a research report on Thursday, April 9th. Finally, The Goldman Sachs Group raised shares of Ramaco Resources from a "sell" rating to a "neutral" rating and upped their price target for the stock from $14.00 to $15.00 in a research report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Ramaco Resources currently has an average rating of "Moderate Buy" and a consensus price target of $27.29.
Check Out Our Latest Stock Report on Ramaco Resources
Ramaco Resources News Summary
Here are the key news stories impacting Ramaco Resources this week:
Hedge Funds Weigh In On Ramaco Resources
Institutional investors have recently added to or reduced their stakes in the company. Allworth Financial LP lifted its holdings in Ramaco Resources by 3,603.6% in the 3rd quarter. Allworth Financial LP now owns 1,037 shares of the energy company's stock worth $34,000 after buying an additional 1,009 shares in the last quarter. Advisory Services Network LLC acquired a new stake in shares of Ramaco Resources in the 3rd quarter valued at about $38,000. Quarry LP acquired a new stake in shares of Ramaco Resources in the 4th quarter valued at about $27,000. Caitong International Asset Management Co. Ltd raised its stake in shares of Ramaco Resources by 14,250.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,722 shares of the energy company's stock valued at $31,000 after purchasing an additional 1,710 shares in the last quarter. Finally, Spirit of America Management Corp NY acquired a new stake in shares of Ramaco Resources in the 4th quarter valued at about $38,000. Institutional investors and hedge funds own 74.49% of the company's stock.
Ramaco Resources Company Profile
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Get Free Report)
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.
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