Wedge Capital Management L L P NC Decreases Holdings in Ramaco Resources, Inc. $METC

Wedge Capital Management L L P NC reduced its position in Ramaco Resources, Inc. (NASDAQ:METC) by 66.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,892 shares of the energy company’s stock after selling 60,252 shares during the period. Wedge Capital Management L L P NC’s holdings in Ramaco Resources were worth $556,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Bridgeway Capital Management LLC increased its position in Ramaco Resources by 0.4% during the third quarter. Bridgeway Capital Management LLC now owns 122,998 shares of the energy company’s stock valued at $4,082,000 after acquiring an additional 536 shares during the last quarter. AlphaQuest LLC increased its position in shares of Ramaco Resources by 12.6% during the 3rd quarter. AlphaQuest LLC now owns 5,460 shares of the energy company’s stock valued at $181,000 after purchasing an additional 610 shares during the last quarter. Archer Investment Corp purchased a new stake in shares of Ramaco Resources during the 3rd quarter valued at about $33,000. Allworth Financial LP lifted its stake in shares of Ramaco Resources by 3,603.6% in the 3rd quarter. Allworth Financial LP now owns 1,037 shares of the energy company’s stock worth $34,000 after purchasing an additional 1,009 shares during the period. Finally, MCF Advisors LLC purchased a new position in shares of Ramaco Resources in the third quarter worth approximately $35,000. Institutional investors own 74.49% of the company’s stock.

Ramaco Resources Trading Up 7.1%

Shares of METC stock opened at $15.46 on Wednesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 4.66 and a current ratio of 5.46. The stock has a fifty day simple moving average of $16.98 and a two-hundred day simple moving average of $22.65. The firm has a market capitalization of $1.04 billion, a PE ratio of -15.62 and a beta of 1.41. Ramaco Resources, Inc. has a 52-week low of $6.30 and a 52-week high of $57.80.

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

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on METC shares. The Goldman Sachs Group decreased their price target on shares of Ramaco Resources from $16.00 to $14.00 and set a “sell” rating on the stock in a research report on Monday, March 2nd. Robert W. Baird decreased their target price on Ramaco Resources from $40.00 to $30.00 and set an “outperform” rating on the stock in a report on Friday, February 27th. Morgan Stanley began coverage on Ramaco Resources in a report on Friday, December 5th. They set 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 research note on Monday, December 29th. Finally, Jefferies Financial Group upgraded Ramaco Resources from a “hold” rating to a “buy” rating and cut their price objective for the company from $33.00 to $30.00 in a research note on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $31.93.

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.