Lunt Capital Management Inc. Sells 230,666 Shares of Ramaco Resources, Inc. $METC

Lunt Capital Management Inc. lessened its position in shares of Ramaco Resources, Inc. (NASDAQ:METC) by 73.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 85,170 shares of the energy company’s stock after selling 230,666 shares during the quarter. Lunt Capital Management Inc. owned approximately 0.13% of Ramaco Resources worth $1,127,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of METC. State Street Corp raised its stake in shares of Ramaco Resources by 10.2% in the fourth quarter. State Street Corp now owns 2,489,797 shares of the energy company’s stock valued at $44,816,000 after purchasing an additional 230,197 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Ramaco Resources by 0.7% during the fourth quarter. Renaissance Technologies LLC now owns 1,526,164 shares of the energy company’s stock worth $27,471,000 after buying an additional 9,860 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Ramaco Resources by 38.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,435,059 shares of the energy company’s stock worth $22,179,000 after buying an additional 398,626 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Ramaco Resources by 74.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,160,898 shares of the energy company’s stock valued at $20,896,000 after buying an additional 496,150 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Ramaco Resources by 20.1% in the 4th quarter. Geode Capital Management LLC now owns 978,950 shares of the energy company’s stock valued at $17,625,000 after buying an additional 163,971 shares during the period. 74.49% of the stock is currently owned by institutional investors.

Ramaco Resources Stock Performance

Shares of NASDAQ:METC opened at $12.25 on Friday. The company has a debt-to-equity ratio of 1.23, a current ratio of 4.23 and a quick ratio of 3.31. The business’s fifty day moving average price is $12.11 and its two-hundred day moving average price is $14.41. Ramaco Resources, Inc. has a fifty-two week low of $8.56 and a fifty-two week high of $57.80. The stock has a market capitalization of $798.39 million, a price-to-earnings ratio of -11.45 and a beta of 1.37.

Ramaco Resources (NASDAQ:METC) last issued its quarterly earnings data on Tuesday, August 4th. The energy company reported ($0.26) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 analysts’ expectations of $133.11 million. As a group, analysts predict that Ramaco Resources, Inc. will post -0.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Weiss Ratings downgraded shares of Ramaco Resources from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, August 6th. Benchmark decreased their target price on shares of Ramaco Resources from $38.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Wall Street Zen raised shares of Ramaco Resources from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 8th. Robert W. Baird set a $13.00 price target on shares of Ramaco Resources in a research report on Thursday, August 6th. Finally, Morgan Stanley cut their price target on shares of Ramaco Resources from $17.00 to $13.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Ramaco Resources presently has a consensus rating of “Hold” and an average target price of $22.71.

Insider Activity

In related news, major shareholder Discovery Capital Management, sold 500,000 shares of the stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $9.57, for a total transaction of $4,785,000.00. Following the completion of the sale, the insider owned 4,811,360 shares in the company, valued at $46,044,715.20. This trade represents a 9.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 46.07% of the stock is owned by company insiders.

About Ramaco Resources

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.