Northern Trust Corp Increases Stake in Ramaco Resources Inc (METC)
Northern Trust Corp grew its holdings in Ramaco Resources Inc (NASDAQ:METC) by 26.7% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 79,943 shares of the energy company’s stock after buying an additional 16,822 shares during the period. Northern Trust Corp’s holdings in Ramaco Resources were worth $557,000 at the end of the most recent reporting period.
Separately, GeoSphere Capital Management LLC purchased a new stake in shares of Ramaco Resources in the second quarter valued at about $109,000. Institutional investors own 80.37% of the company’s stock.
Shares of Ramaco Resources stock opened at $5.17 on Friday. Ramaco Resources Inc has a 52-week low of $4.74 and a 52-week high of $9.35. The stock has a market cap of $204.02 million, a PE ratio of 11.06 and a beta of 0.66.
A number of brokerages have recently commented on METC. Zacks Investment Research raised shares of Ramaco Resources from a “hold” rating to a “strong-buy” rating and set a $9.00 target price for the company in a report on Wednesday, September 19th. ValuEngine raised shares of Ramaco Resources from a “sell” rating to a “hold” rating in a report on Monday, August 13th. TheStreet cut shares of Ramaco Resources from a “c-” rating to a “d” rating in a report on Tuesday, November 20th. Finally, B. Riley reduced their target price on shares of Ramaco Resources from $11.50 to $11.00 and set a “buy” rating for the company in a report on Tuesday, November 13th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. Ramaco Resources presently has a consensus rating of “Hold” and an average price target of $9.75.
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Ramaco Resources Profile
Ramaco Resources, Inc produces and sells metallurgical coal in the United States. The company's development portfolio includes the Elk Creek project consisting of approximately 18,728 acres of controlled mineral and 24 seams located in southern West Virginia; and the Berwind coal property comprising approximately 31,200 acres of controlled mineral and an area of Squire Jim seam coal deposits, which is situated on the border of West Virginia and Virginia.
Further Reading: Stock Symbols and CUSIP Explained
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