Lunt Capital Management Inc. Has $1.13 Million Stock Position in Ramaco Resources, Inc. $METC

Lunt Capital Management Inc. cut its stake in Ramaco Resources, Inc. (NASDAQ:METC) by 73.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 85,170 shares of the energy company’s stock after selling 230,666 shares during the period. Lunt Capital Management Inc.’s holdings in Ramaco Resources were worth $1,127,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Quarry LP acquired a new position in shares of Ramaco Resources in the 4th quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd increased its position 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 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 third 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 last quarter. Advisory Services Network LLC acquired a new position in Ramaco Resources in the third quarter valued at $38,000. Finally, MidFirst Bank acquired a new position in Ramaco Resources in the fourth quarter valued at $54,000. Institutional investors own 74.49% of the company’s stock.

Insider Activity at Ramaco Resources

In other news, major shareholder Discovery Capital Management, sold 500,000 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $9.57, for a total transaction of $4,785,000.00. Following the transaction, the insider directly owned 4,811,360 shares of the company’s stock, valued at $46,044,715.20. This represents a 9.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 46.07% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Robert W. Baird reiterated a “neutral” rating and set a $13.00 price target on shares of Ramaco Resources in a report on Tuesday, August 18th. B. Riley Financial reissued a “buy” rating on shares of Ramaco Resources in a research note on Tuesday, August 18th. Benchmark decreased their target price on Ramaco Resources from $38.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Zacks Research downgraded Ramaco Resources from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th. Finally, Weiss Ratings lowered Ramaco Resources from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $22.43.

Ramaco Resources Trading Down 2.0%

METC opened at $12.28 on Thursday. The company has a fifty day moving average price of $11.75 and a two-hundred day moving average price of $13.66. Ramaco Resources, Inc. has a 1-year low of $8.56 and a 1-year high of $57.80. The company has a market cap of $778.43 million, a P/E ratio of -11.48 and a beta of 1.39. The company has a current ratio of 4.23, a quick ratio of 3.31 and a debt-to-equity ratio of 1.23.

Ramaco Resources (NASDAQ:METC) last issued its earnings results on Tuesday, August 4th. The energy company reported ($0.26) EPS for the quarter, meeting the consensus estimate of ($0.26). Ramaco Resources had a negative return on equity of 13.54% and a negative net margin of 11.98%.The company had revenue of $122.32 million during the quarter, compared to the consensus estimate of $133.11 million. Analysts predict that Ramaco Resources, Inc. will post -1.02 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.