Ramaco Resources (NASDAQ:METC) Shares Gap Up - Here's What Happened

Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report)'s stock price gapped up before the market opened on Friday . The stock had previously closed at $12.35, but opened at $13.18. Ramaco Resources shares last traded at $13.2350, with a volume of 397,390 shares trading hands.

Analyst Ratings Changes

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Several equities research analysts recently issued reports on the company. Robert W. Baird reissued a "neutral" rating and issued a $13.00 price objective on shares of Ramaco Resources in a research note on Tuesday, August 18th. Morgan Stanley lowered their target price on Ramaco Resources from $13.00 to $11.00 and set an "equal weight" rating on the stock in a research note on Tuesday, August 18th. B. Riley Financial reiterated a "buy" rating on shares of Ramaco Resources in a report on Tuesday, August 18th. Wall Street Zen lowered shares of Ramaco Resources from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 22nd. Finally, Weiss Ratings lowered shares of Ramaco Resources from a "sell (d)" rating to a "sell (d-)" rating in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $22.43.

Check Out Our Latest Report on METC

Ramaco Resources Stock Performance

• Ramaco Resources Pins Hopes on Coal's Untapped Potential

The company has a current ratio of 4.23, a quick ratio of 3.31 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $857.48 million, a PE ratio of -12.74 and a beta of 1.39. The firm's fifty day moving average price is $11.76 and its 200 day moving average price is $13.76.

Ramaco Resources (NASDAQ:METC - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The energy company reported ($0.26) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.26). The business had revenue of $122.32 million during the quarter, compared to analyst estimates of $133.11 million. Ramaco Resources had a negative return on equity of 13.54% and a negative net margin of 11.98%. On average, research analysts anticipate that Ramaco Resources, Inc. will post -1.02 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Discovery Capital Management, sold 500,000 shares of the firm's stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $9.57, for a total transaction of $4,785,000.00. Following the completion of the sale, the insider directly owned 4,811,360 shares of the company's stock, valued at $46,044,715.20. This trade represents a 9.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 46.07% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ramaco Resources

Several large investors have recently made changes to their positions in the company. Bridgeway Capital Management LLC raised its position 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 valued at $4,082,000 after acquiring an additional 536 shares in the last quarter. Allworth Financial LP grew its position 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 in the last quarter. Advisory Services Network LLC acquired a new position in shares of Ramaco Resources during the 3rd quarter worth $38,000. Police & Firemen s Retirement System of New Jersey increased its stake in shares of Ramaco Resources by 16.0% during the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 9,549 shares of the energy company's stock worth $172,000 after purchasing an additional 1,317 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of Ramaco Resources by 51.4% during the 4th quarter. Russell Investments Group Ltd. now owns 3,917 shares of the energy company's stock valued at $71,000 after purchasing an additional 1,330 shares in the last quarter. Institutional investors own 74.49% of the company's stock.

Ramaco Resources Company Profile

(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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