CenterBook Partners LP Has $3.61 Million Stake in Ramaco Resources, Inc. $METC

CenterBook Partners LP reduced its position in Ramaco Resources, Inc. (NASDAQ:METC) by 64.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 108,864 shares of the energy company’s stock after selling 196,174 shares during the period. CenterBook Partners LP owned approximately 0.20% of Ramaco Resources worth $3,613,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Archer Investment Corp acquired a new position in Ramaco Resources during the third quarter worth $33,000. MCF Advisors LLC acquired a new stake in shares of Ramaco Resources in the 3rd quarter worth about $35,000. Ameritas Investment Partners Inc. lifted its position in Ramaco Resources by 63.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,632 shares of the energy company’s stock valued at $48,000 after acquiring an additional 1,416 shares in the last quarter. SG Americas Securities LLC acquired a new position in Ramaco Resources during the 3rd quarter valued at about $134,000. Finally, Global Retirement Partners LLC increased its holdings in Ramaco Resources by 112.5% during the 3rd quarter. Global Retirement Partners LLC now owns 4,250 shares of the energy company’s stock worth $141,000 after purchasing an additional 2,250 shares in the last quarter. Institutional investors own 74.49% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on METC. The Goldman Sachs Group began coverage on Ramaco Resources in a report on Wednesday, November 19th. They issued a “sell” rating and a $16.00 target price on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of Ramaco Resources in a research note on Monday, December 29th. Benchmark lifted their price objective on shares of Ramaco Resources from $24.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Jefferies Financial Group upgraded shares of Ramaco Resources from a “hold” rating to a “buy” rating and lowered their target price for the company from $33.00 to $30.00 in a report on Tuesday, January 20th. Finally, Northland Securities set a $44.00 price target on shares of Ramaco Resources in a report on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $34.07.

Ramaco Resources Stock Performance

NASDAQ METC opened at $16.26 on Thursday. The company has a market capitalization of $1.07 billion, a PE ratio of -24.27 and a beta of 1.44. 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, Inc. has a 52-week low of $6.30 and a 52-week high of $57.80. The company has a 50-day simple moving average of $18.88 and a 200 day simple moving average of $24.50.

Ramaco Resources announced that its board has initiated a share buyback program on Tuesday, December 23rd that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the energy company to purchase up to 9.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

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.