Ramaco Resources (NASDAQ:METC) Shares Gap Down – Here’s What Happened

Ramaco Resources, Inc. (NASDAQ:METC)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $49.48, but opened at $44.92. Ramaco Resources shares last traded at $46.40, with a volume of 1,391,063 shares trading hands.

Analyst Ratings Changes

METC has been the topic of a number of recent analyst reports. B. Riley lifted their price target on shares of Ramaco Resources from $14.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Northland Securities started coverage on shares of Ramaco Resources in a research report on Thursday, October 9th. They set an “outperform” rating and a $50.00 target price on the stock. Baird R W raised shares of Ramaco Resources to a “strong-buy” rating in a research report on Thursday. Benchmark reaffirmed a “buy” rating and set a $24.00 target price (up previously from $14.00) on shares of Ramaco Resources in a research report on Tuesday, August 5th. Finally, Northland Capmk raised shares of Ramaco Resources to a “strong-buy” rating in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.40.

Ramaco Resources Price Performance

The company has a debt-to-equity ratio of 0.36, a current ratio of 1.36 and a quick ratio of 0.84. The stock’s 50 day simple moving average is $31.03 and its two-hundred day simple moving average is $18.90. The stock has a market cap of $2.53 billion, a price-to-earnings ratio of -101.73 and a beta of 1.37.

Ramaco Resources (NASDAQ:METC) last posted its quarterly earnings results on Thursday, July 31st. The energy company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.07). Ramaco Resources had a negative return on equity of 5.55% and a negative net margin of 3.17%.The business had revenue of $152.96 million for the quarter, compared to analyst estimates of $131.55 million. During the same quarter in the prior year, the firm earned $0.08 EPS. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. On average, analysts forecast that Ramaco Resources, Inc. will post 0.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Ramaco Resources news, Director Peter A. Leidel sold 1,600,000 shares of Ramaco Resources stock in a transaction on Friday, August 8th. The shares were sold at an average price of $18.75, for a total transaction of $30,000,000.00. Following the sale, the director owned 2,502,930 shares in the company, valued at $46,929,937.50. The trade was a 39.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 36.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ramaco Resources

Institutional investors and hedge funds have recently made changes to their positions in the company. Brooklyn Investment Group acquired a new stake in shares of Ramaco Resources in the 1st quarter valued at $25,000. Ameritas Investment Partners Inc. boosted its stake in shares of Ramaco Resources by 63.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,632 shares of the energy company’s stock valued at $48,000 after purchasing an additional 1,416 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Ramaco Resources by 384.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 3,920 shares of the energy company’s stock valued at $52,000 after purchasing an additional 3,110 shares in the last quarter. State of Wyoming acquired a new stake in shares of Ramaco Resources in the 1st quarter valued at $50,000. Finally, AlphaQuest LLC boosted its stake in shares of Ramaco Resources by 30.6% in the 1st quarter. AlphaQuest LLC now owns 6,332 shares of the energy company’s stock valued at $52,000 after purchasing an additional 1,482 shares in the last quarter. Institutional investors and hedge funds own 74.49% of the company’s stock.

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.