Yorktown Energy Partners IX L.P. Sells 659,887 Shares of Ramaco Resources, Inc. $METC

Yorktown Energy Partners IX L.P. lowered its stake in Ramaco Resources, Inc. (NASDAQ:METC) by 21.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,437,247 shares of the energy company’s stock after selling 659,887 shares during the period. Ramaco Resources accounts for 65.5% of Yorktown Energy Partners IX L.P.’s holdings, making the stock its biggest position. Yorktown Energy Partners IX L.P. owned 3.63% of Ramaco Resources worth $37,680,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. State Street Corp raised its position in Ramaco Resources by 10.2% during the fourth quarter. State Street Corp now owns 2,489,797 shares of the energy company’s stock valued at $44,816,000 after acquiring an additional 230,197 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Ramaco Resources by 0.7% during the 4th quarter. Renaissance Technologies LLC now owns 1,526,164 shares of the energy company’s stock worth $27,471,000 after purchasing an additional 9,860 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of 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 valued at $22,179,000 after acquiring an additional 398,626 shares during the last quarter. Goldman Sachs Group Inc. raised its stake 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 purchasing an additional 496,150 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Ramaco Resources by 20.1% in the fourth 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 last quarter. 74.49% of the stock is currently owned by hedge funds and other institutional investors.

Ramaco Resources Price Performance

Shares of NASDAQ METC opened at $10.35 on Monday. The company has a quick ratio of 3.93, a current ratio of 4.88 and a debt-to-equity ratio of 1.06. The business’s 50 day moving average is $13.68 and its two-hundred day moving average is $15.62. Ramaco Resources, Inc. has a 52-week low of $10.31 and a 52-week high of $57.80. The firm has a market cap of $674.61 million, a price-to-earnings ratio of -9.41 and a beta of 1.35.

Ramaco Resources (NASDAQ:METC) last released its quarterly earnings results on Monday, May 11th. The energy company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.08). Ramaco Resources had a negative return on equity of 13.44% and a negative net margin of 11.52%.The firm had revenue of $101.41 million for the quarter, compared to analysts’ expectations of $129.72 million. During the same quarter in the prior year, the business earned ($0.20) earnings per share. The company’s quarterly revenue was down 9.7% on a year-over-year basis. Research analysts predict that Ramaco Resources, Inc. will post -0.58 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on METC shares. The Goldman Sachs Group reduced their price objective on Ramaco Resources from $16.00 to $13.00 and set a “neutral” rating on the stock in a research report on Thursday, July 9th. B. Riley Financial lowered their price target on shares of Ramaco Resources from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, May 13th. Robert W. Baird decreased their target price on shares of Ramaco Resources from $30.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Morgan Stanley lowered their price objective on Ramaco Resources from $17.00 to $13.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 8th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Ramaco Resources in a research note on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $26.43.

Insider Transactions at Ramaco Resources

In related news, major shareholder Discovery Capital Management, sold 200,000 shares of the stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $14.79, for a total transaction of $2,958,000.00. Following the transaction, the insider owned 5,311,360 shares of the company’s stock, valued at approximately $78,555,014.40. This represents a 3.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 46.07% of the company’s stock.

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.