Ramaco Resources Sees Unusually Large Options Volume (NASDAQ:METC)

Ramaco Resources, Inc. (NASDAQ:METC) saw some unusual options trading activity on Friday. Stock traders bought 11,345 call options on the stock. This is an increase of approximately 138% compared to the typical daily volume of 4,771 call options.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Morgan Stanley decreased their price objective on Ramaco Resources from $17.00 to $13.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 8th. Weiss Ratings restated a “sell (d)” rating on shares of Ramaco Resources in a report on Thursday, June 18th. B. Riley Financial dropped their target price on Ramaco Resources from $24.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, May 13th. Robert W. Baird reduced their price target on Ramaco Resources from $30.00 to $25.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Finally, Zacks Research cut Ramaco Resources from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Ramaco Resources has a consensus rating of “Hold” and a consensus price target of $26.43.

Ramaco Resources Price Performance

Shares of Ramaco Resources stock opened at $10.35 on Friday. The company has a quick ratio of 3.93, a current ratio of 4.88 and a debt-to-equity ratio of 1.06. The firm has a market cap of $674.61 million, a PE ratio of -9.41 and a beta of 1.35. Ramaco Resources has a 12-month low of $10.31 and a 12-month high of $57.80. The company’s fifty day simple moving average is $13.68 and its two-hundred day simple moving average is $15.65.

Ramaco Resources (NASDAQ:METC) last announced its quarterly earnings results on Monday, May 11th. The energy company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.08). Ramaco Resources had a negative net margin of 11.52% and a negative return on equity of 13.44%. The business had revenue of $101.41 million for the quarter, compared to analysts’ expectations of $129.72 million. During the same quarter in the prior year, the firm earned ($0.20) EPS. The firm’s revenue for the quarter was down 9.7% on a year-over-year basis. As a group, equities analysts expect that Ramaco Resources will post -0.58 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Discovery Capital Management, sold 200,000 shares of Ramaco Resources stock in a transaction on Friday, May 1st. The shares were sold at an average price of $14.79, for a total value of $2,958,000.00. Following the transaction, the insider owned 5,311,360 shares in the company, valued at $78,555,014.40. This trade represents a 3.63% decrease in their position. The sale 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 insiders.

Hedge Funds Weigh In On Ramaco Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in METC. Allworth Financial LP lifted its stake in Ramaco Resources by 3,603.6% in the third quarter. Allworth Financial LP now owns 1,037 shares of the energy company’s stock worth $34,000 after acquiring an additional 1,009 shares during the period. Advisory Services Network LLC purchased a new position in Ramaco Resources during the 3rd quarter valued at $38,000. Quarry LP purchased a new position in Ramaco Resources during the 4th quarter valued at $27,000. Caitong International Asset Management Co. Ltd raised its holdings in 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 worth $31,000 after purchasing an additional 1,710 shares in the last quarter. Finally, Spirit of America Management Corp NY bought a new position in Ramaco Resources in the 4th quarter worth $38,000. Institutional investors own 74.49% of the company’s stock.

Ramaco Resources Company Profile

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.