Ramaco Resources (NASDAQ:METC) Stock Price Crosses Below 50 Day Moving Average – Time to Sell?
by Amy Steele · The Cerbat GemRamaco Resources, Inc. (NASDAQ:METC – Get Free Report) shares passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $14.76 and traded as low as $14.43. Ramaco Resources shares last traded at $14.85, with a volume of 1,024,912 shares traded.
Analyst Ratings Changes
Several equities research analysts recently weighed in on the stock. Zacks Research upgraded shares of Ramaco Resources from a “strong sell” rating to a “hold” rating in a research report on Friday, April 10th. Robert W. Baird dropped their price objective on shares of Ramaco Resources from $40.00 to $30.00 and set an “outperform” rating for the company in a research note on Friday, February 27th. Jefferies Financial Group raised shares of Ramaco Resources from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $33.00 to $30.00 in a research note on Tuesday, January 20th. The Goldman Sachs Group raised shares of Ramaco Resources from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $14.00 to $15.00 in a research note on Tuesday, April 21st. Finally, Morgan Stanley dropped their price objective on shares of Ramaco Resources from $17.50 to $17.00 and set an “equal weight” rating for the company in a research note on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.00.
Read Our Latest Stock Analysis on Ramaco Resources
Ramaco Resources Trading Down 0.4%
The stock’s 50 day moving average is $14.76 and its two-hundred day moving average is $19.77. The company has a market capitalization of $992.69 million, a PE ratio of -14.94 and a beta of 1.43. The company has a quick ratio of 4.66, a current ratio of 5.46 and a debt-to-equity ratio of 0.95.
Ramaco Resources (NASDAQ:METC – Get Free Report) last released its quarterly earnings data on Wednesday, February 25th. The energy company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.02. Ramaco Resources had a negative net margin of 9.59% and a negative return on equity of 12.01%. The company had revenue of $108.72 million during the quarter, compared to analyst estimates of $143.48 million. During the same period in the prior year, the firm earned $0.02 earnings per share. The firm’s revenue for the quarter was down 25.1% compared to the same quarter last year. As a group, sell-side analysts predict that Ramaco Resources, Inc. will post -0.04 EPS for the current fiscal year.
Hedge Funds Weigh In On Ramaco Resources
A number of large investors have recently added to or reduced their stakes in METC. Quarry LP bought a new position in Ramaco Resources in the fourth quarter worth about $27,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of Ramaco Resources by 14,250.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,722 shares of the energy company’s stock valued at $31,000 after acquiring an additional 1,710 shares in the last quarter. Archer Investment Corp acquired a new position in shares of Ramaco Resources during the third quarter valued at about $33,000. Allworth Financial LP increased its holdings in shares of Ramaco Resources by 3,603.6% during the third quarter. Allworth Financial LP now owns 1,037 shares of the energy company’s stock valued at $34,000 after acquiring an additional 1,009 shares in the last quarter. Finally, MCF Advisors LLC acquired a new position in shares of Ramaco Resources during the third quarter valued at about $35,000. 74.49% of the stock is currently owned by institutional investors.
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.