Traders Buy Large Volume of Ramaco Resources Call Options (NASDAQ:METC)

Ramaco Resources, Inc. (NASDAQ:METC) was the recipient of some unusual options trading on Friday. Stock investors purchased 11,345 call options on the stock. This represents an increase of approximately 138% compared to the typical daily volume of 4,771 call options.

Wall Street Analyst Weigh In

METC has been the subject of several recent research reports. The Goldman Sachs Group decreased their price target on Ramaco Resources from $16.00 to $13.00 and set a “neutral” rating for the company in a report on Thursday, July 9th. Weiss Ratings restated a “sell (d)” rating on shares of Ramaco Resources in a research report on Thursday, June 18th. B. Riley Financial reduced their target price on shares of Ramaco Resources from $24.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. Zacks Research downgraded shares of Ramaco Resources from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th. Finally, Robert W. Baird dropped their price target on shares of Ramaco Resources from $30.00 to $25.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $26.43.

Insider Transactions at Ramaco Resources

In other Ramaco Resources news, major shareholder Discovery Capital Management, sold 200,000 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $14.79, for a total transaction of $2,958,000.00. Following the completion of the sale, the insider directly owned 5,311,360 shares of the company’s stock, valued at $78,555,014.40. This represents a 3.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 46.07% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ramaco Resources

Hedge funds and other institutional investors have recently bought and sold shares of the company. Allworth Financial LP lifted its stake 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 buying an additional 1,009 shares during the period. Advisory Services Network LLC purchased a new stake in Ramaco Resources in the 3rd quarter worth approximately $38,000. Quarry LP acquired a new position in Ramaco Resources in 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 valued at $31,000 after acquiring an additional 1,710 shares during the last quarter. Finally, Spirit of America Management Corp NY acquired a new position in Ramaco Resources in the 4th quarter valued at $38,000. 74.49% of the stock is owned by institutional investors and hedge funds.

Ramaco Resources Stock Down 7.6%

METC stock opened at $10.35 on Friday. The company has a market cap of $674.61 million, a P/E ratio of -9.41 and a beta of 1.35. Ramaco Resources has a 52 week low of $10.31 and a 52 week high of $57.80. The company’s 50-day moving average price is $13.68 and its 200 day moving average price is $15.65. 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 (NASDAQ:METC) last issued its 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). The company had revenue of $101.41 million during the quarter, compared to analysts’ expectations of $129.72 million. Ramaco Resources had a negative net margin of 11.52% and a negative return on equity of 13.44%. The company’s quarterly revenue was down 9.7% on a year-over-year basis. During the same period last year, the business posted ($0.20) earnings per share. On average, research analysts expect that Ramaco Resources will post -0.58 earnings per share for the current fiscal year.

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.