Vanguard Group Inc. Grows Stock Position in Ramaco Resources, Inc. $METC

Vanguard Group Inc. boosted its position in shares of Ramaco Resources, Inc. (NASDAQ:METC) by 40.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,335,257 shares of the energy company’s stock after buying an additional 667,199 shares during the quarter. Vanguard Group Inc.’s holdings in Ramaco Resources were worth $77,507,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. American Century Companies Inc. lifted its holdings in shares of Ramaco Resources by 8.4% in the 2nd quarter. American Century Companies Inc. now owns 1,028,186 shares of the energy company’s stock worth $13,510,000 after acquiring an additional 79,858 shares during the last quarter. Geode Capital Management LLC raised its position in Ramaco Resources by 25.0% during the 2nd quarter. Geode Capital Management LLC now owns 687,343 shares of the energy company’s stock valued at $9,033,000 after purchasing an additional 137,635 shares in the last quarter. Benjamin Edwards Inc. purchased a new position in shares of Ramaco Resources in the 3rd quarter valued at $899,000. Bosun Asset Management LLC bought a new position in shares of Ramaco Resources during the 2nd quarter worth approximately $819,000. Finally, Shikiar Asset Management Inc. acquired a new stake in Ramaco Resources in the third quarter worth about $1,162,000. Institutional investors own 74.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on METC. Morgan Stanley assumed coverage on shares of Ramaco Resources in a report on Friday, December 5th. They issued an “equal weight” rating and a $17.50 price target for the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Ramaco Resources in a report on Monday, December 29th. Zacks Research lowered shares of Ramaco Resources from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 3rd. Jefferies Financial Group upgraded shares of Ramaco Resources from a “hold” rating to a “buy” rating and decreased their price objective for the company from $33.00 to $30.00 in a research note on Tuesday, January 20th. Finally, The Goldman Sachs Group cut their price objective on shares of Ramaco Resources from $16.00 to $14.00 and set a “sell” rating on the stock in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $31.93.

Ramaco Resources Stock Performance

Shares of Ramaco Resources stock opened at $14.80 on Friday. The business’s 50 day moving average price is $18.97 and its 200 day moving average price is $23.94. The company has a market cap of $828.21 million, a price-to-earnings ratio of -14.95 and a beta of 1.41. The company has a debt-to-equity ratio of 0.95, a quick ratio of 4.66 and a current ratio of 5.46. Ramaco Resources, Inc. has a one year low of $6.30 and a one year high of $57.80.

Ramaco Resources (NASDAQ:METC) last posted its quarterly earnings results on Wednesday, February 25th. The energy company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.02. Ramaco Resources had a negative return on equity of 12.01% and a negative net margin of 9.59%.The business had revenue of $108.72 million for the quarter, compared to analyst estimates of $143.48 million. During the same quarter in the previous year, the firm earned $0.02 EPS. The company’s quarterly revenue was down 25.1% compared to the same quarter last year. On average, research analysts predict that Ramaco Resources, Inc. will post 0.05 EPS for the current year.

Ramaco Resources announced that its board has authorized a share repurchase program on Tuesday, December 23rd that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the energy company to buy up to 9.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

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.