Quantbot Technologies LP Grows Position in Ramaco Resources, Inc. $METC

Quantbot Technologies LP grew its holdings in shares of Ramaco Resources, Inc. (NASDAQ:METC) by 54.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 127,404 shares of the energy company’s stock after purchasing an additional 44,710 shares during the quarter. Quantbot Technologies LP’s holdings in Ramaco Resources were worth $1,686,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Goldman Sachs Group Inc. lifted its stake in shares of Ramaco Resources by 27.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 274,545 shares of the energy company’s stock valued at $2,260,000 after buying an additional 58,304 shares in the last quarter. Empowered Funds LLC grew its stake in Ramaco Resources by 1.8% in the 1st quarter. Empowered Funds LLC now owns 123,110 shares of the energy company’s stock valued at $1,013,000 after buying an additional 2,223 shares in the last quarter. Rhumbline Advisers grew its stake in Ramaco Resources by 40.1% in the 2nd quarter. Rhumbline Advisers now owns 49,605 shares of the energy company’s stock valued at $652,000 after buying an additional 14,199 shares in the last quarter. Hsbc Holdings PLC raised its holdings in Ramaco Resources by 91.4% during the 2nd quarter. Hsbc Holdings PLC now owns 27,338 shares of the energy company’s stock valued at $358,000 after acquiring an additional 13,053 shares during the period. Finally, New York State Common Retirement Fund raised its holdings in Ramaco Resources by 144.8% during the 2nd quarter. New York State Common Retirement Fund now owns 32,039 shares of the energy company’s stock valued at $421,000 after acquiring an additional 18,951 shares during the period. Hedge funds and other institutional investors own 74.49% of the company’s stock.

Analysts Set New Price Targets

METC has been the topic of several recent research reports. B. Riley Financial restated a “buy” rating on shares of Ramaco Resources in a research report on Tuesday, August 18th. Morgan Stanley decreased their price objective on Ramaco Resources from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 18th. Robert W. Baird reissued a “neutral” rating and set a $13.00 price objective on shares of Ramaco Resources in a report on Tuesday, August 18th. Wall Street Zen downgraded Ramaco Resources from a “sell” rating to a “strong sell” rating in a research note on Saturday. Finally, Zacks Research downgraded Ramaco Resources from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $22.43.

Ramaco Resources Stock Performance

NASDAQ METC opened at $12.43 on Tuesday. Ramaco Resources, Inc. has a 1 year low of $8.56 and a 1 year high of $57.80. 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 stock has a market capitalization of $787.94 million, a PE ratio of -11.62 and a beta of 1.37. The company’s 50 day simple moving average is $11.75 and its two-hundred day simple moving average is $13.98.

Ramaco Resources (NASDAQ:METC) last announced its quarterly earnings results on Tuesday, August 4th. The energy company reported ($0.26) EPS for the quarter, meeting the consensus estimate of ($0.26). The firm had revenue of $122.32 million during the quarter, compared to the consensus estimate of $133.11 million. Ramaco Resources had a negative net margin of 11.98% and a negative return on equity of 13.54%. Analysts predict that Ramaco Resources, Inc. will post -1.02 earnings per share for the current fiscal year.

Insider Transactions at Ramaco Resources

In related news, major shareholder Discovery Capital Management, sold 500,000 shares of the business’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $9.57, for a total transaction of $4,785,000.00. Following the completion of the transaction, the insider directly owned 4,811,360 shares in the company, valued at $46,044,715.20. The trade was a 9.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 46.07% of the company’s stock.

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.