Shikiar Asset Management Inc. Purchases New Holdings in Ramaco Resources, Inc. $METC

Shikiar Asset Management Inc. acquired a new position in Ramaco Resources, Inc. (NASDAQ:METC) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 35,000 shares of the energy company’s stock, valued at approximately $1,162,000. Shikiar Asset Management Inc. owned 0.06% of Ramaco Resources at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Brooklyn Investment Group acquired a new stake in Ramaco Resources during the first quarter worth $25,000. Ameritas Investment Partners Inc. lifted its holdings in shares of Ramaco Resources by 63.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,632 shares of the energy company’s stock worth $48,000 after acquiring an additional 1,416 shares during the period. State of Wyoming bought a new position in shares of Ramaco Resources during the 1st quarter worth about $50,000. Farther Finance Advisors LLC increased its stake in Ramaco Resources by 384.0% in the second quarter. Farther Finance Advisors LLC now owns 3,920 shares of the energy company’s stock valued at $52,000 after acquiring an additional 3,110 shares during the period. Finally, AlphaQuest LLC raised its position in Ramaco Resources by 30.6% in the first quarter. AlphaQuest LLC now owns 6,332 shares of the energy company’s stock worth $52,000 after purchasing an additional 1,482 shares in the last quarter. 74.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on METC shares. Jefferies Financial Group downgraded Ramaco Resources from a “buy” rating to a “hold” rating and cut their target price for the stock from $45.00 to $33.00 in a research report on Tuesday, October 28th. Robert W. Baird set a $43.00 price target on shares of Ramaco Resources in a research report on Wednesday, October 29th. The Goldman Sachs Group started coverage on shares of Ramaco Resources in a research note on Wednesday, November 19th. They issued a “sell” rating and a $16.00 target price for the company. B. Riley increased their price target on shares of Ramaco Resources from $14.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Finally, Morgan Stanley initiated coverage on Ramaco Resources in a research note on Friday, December 5th. They issued an “equal weight” rating and a $17.50 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Ramaco Resources presently has an average rating of “Hold” and an average price target of $34.50.

Ramaco Resources Price Performance

METC opened at $15.56 on Tuesday. The company has a fifty day moving average price of $24.32 and a two-hundred day moving average price of $23.27. The firm has a market capitalization of $1.03 billion, a PE ratio of -23.22 and a beta of 1.42. Ramaco Resources, Inc. has a 52 week low of $6.30 and a 52 week high of $57.80. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.24 and a current ratio of 2.97.

Ramaco Resources (NASDAQ:METC) last posted its quarterly earnings results on Monday, October 27th. The energy company reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.05. Ramaco Resources had a negative return on equity of 8.26% and a negative net margin of 5.67%.The company had revenue of $104.87 million for the quarter, compared to the consensus estimate of $137.63 million. During the same quarter in the prior year, the business posted ($0.03) EPS. The firm’s quarterly revenue was down 27.7% on a year-over-year basis. As a group, analysts anticipate that Ramaco Resources, Inc. will post 0.05 earnings per share for the current 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.