Ramaco Resources, Inc. $METC is Yorktown Energy Partners X L.P.’s Largest Position

Yorktown Energy Partners X L.P. reduced its stake in shares of Ramaco Resources, Inc. (NASDAQ:METC) by 21.3% in the first quarter, HoldingsChannel reports. The institutional investor owned 1,969,646 shares of the energy company’s stock after selling 533,284 shares during the period. Ramaco Resources makes up about 43.8% of Yorktown Energy Partners X L.P.’s holdings, making the stock its largest holding. Yorktown Energy Partners X L.P.’s holdings in Ramaco Resources were worth $30,451,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quarry LP purchased a new position in shares of Ramaco Resources in the fourth quarter worth $27,000. Caitong International Asset Management Co. Ltd grew its stake in 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. Allworth Financial LP grew its stake in 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. Spirit of America Management Corp NY bought a new stake in Ramaco Resources in the 4th quarter valued at $38,000. Finally, Advisory Services Network LLC bought a new stake in Ramaco Resources in the 3rd quarter valued at $38,000. Institutional investors own 74.49% of the company’s stock.

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 sale, the insider directly owned 5,311,360 shares in the company, valued at $78,555,014.40. This represents a 3.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 46.07% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on METC. Zacks Research cut shares of Ramaco Resources from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ramaco Resources in a report on Thursday, June 18th. B. Riley Financial decreased their target price on Ramaco Resources from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, May 13th. Robert W. Baird dropped their price target on Ramaco Resources from $30.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Finally, Morgan Stanley cut their price target on Ramaco Resources from $17.00 to $13.00 and set an “equal weight” rating for the company in a report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $26.43.

Ramaco Resources Price Performance

Shares of NASDAQ METC opened at $10.35 on Monday. The firm’s 50-day moving average price is $13.68 and its 200-day moving average price is $15.62. The company has a current ratio of 4.88, a quick ratio of 3.93 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $674.61 million, a price-to-earnings ratio of -9.41 and a beta of 1.35. Ramaco Resources, Inc. has a 12-month low of $10.31 and a 12-month high of $57.80.

Ramaco Resources (NASDAQ:METC) last announced its quarterly earnings results on Monday, May 11th. The energy company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.08). The business had revenue of $101.41 million during the quarter, compared to the consensus estimate of $129.72 million. Ramaco Resources had a negative net margin of 11.52% and a negative return on equity of 13.44%. The firm’s revenue was down 9.7% on a year-over-year basis. During the same period in the previous year, the business posted ($0.20) EPS. On average, equities research analysts anticipate that Ramaco Resources, Inc. will post -0.58 EPS for the current fiscal year.

Ramaco Resources 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.