Ramaco Resources Target of Unusually Large Options Trading (NASDAQ:METC)

Ramaco Resources, Inc. (NASDAQ:METC) was the recipient of unusually large options trading on Wednesday. Traders acquired 28,088 call options on the stock. This represents an increase of approximately 559% compared to the average volume of 4,264 call options.

Ramaco Resources Trading Down 2.3%

Shares of METC stock opened at $12.16 on Wednesday. The stock has a market cap of $792.59 million, a price-to-earnings ratio of -11.05 and a beta of 1.35. The stock has a 50-day moving average of $14.46 and a 200-day moving average of $16.11. The company has a current ratio of 4.88, a quick ratio of 3.93 and a debt-to-equity ratio of 1.06. Ramaco Resources has a 1-year low of $11.34 and a 1-year high of $57.80.

Ramaco Resources (NASDAQ:METC) last posted its quarterly earnings data on Monday, May 11th. The energy company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.08). Ramaco Resources had a negative return on equity of 13.44% and a negative net margin of 11.52%.The company had revenue of $101.41 million during the quarter, compared to analyst estimates of $129.72 million. During the same period in the prior year, the firm earned ($0.20) earnings per share. Ramaco Resources’s revenue was down 9.7% compared to the same quarter last year. On average, equities research analysts forecast that Ramaco Resources will post -0.27 earnings per share for the current year.

Analyst Upgrades and Downgrades

METC has been the topic of a number of recent analyst reports. Robert W. Baird decreased 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. The Goldman Sachs Group upgraded Ramaco Resources from a “sell” rating to a “neutral” rating and increased their price target for the company from $14.00 to $15.00 in a research note on Tuesday, April 21st. B. Riley Financial cut their target price on shares of Ramaco Resources from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, May 13th. Weiss Ratings restated a “sell (d)” rating on shares of Ramaco Resources in a research report on Thursday, June 18th. Finally, Morgan Stanley dropped 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 note on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Ramaco Resources has a consensus rating of “Moderate Buy” and a consensus price target of $27.29.

Insider Activity at Ramaco Resources

In other news, major shareholder Discovery Capital Management, sold 200,000 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $14.79, for a total transaction of $2,958,000.00. Following the transaction, the insider directly owned 5,311,360 shares of the company’s stock, valued at approximately $78,555,014.40. This trade represents a 3.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 46.07% of the company’s stock.

Hedge Funds Weigh In On Ramaco Resources

Institutional investors have recently made changes to their positions in the stock. Quarry LP bought a new position in shares of Ramaco Resources during the 4th quarter worth about $27,000. Caitong International Asset Management Co. Ltd raised its stake in Ramaco Resources by 14,250.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,722 shares of the energy company’s stock worth $31,000 after buying an additional 1,710 shares during the period. Allworth Financial LP raised its stake in Ramaco Resources by 3,603.6% during 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 during the period. Spirit of America Management Corp NY bought a new position in Ramaco Resources in the fourth quarter worth approximately $38,000. Finally, Advisory Services Network LLC bought a new position in Ramaco Resources in the third quarter worth approximately $38,000. Institutional investors and hedge funds own 74.49% of the company’s stock.

About Ramaco Resources

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.