FNY Investment Advisers LLC Lowers Stock Position in Ramaco Resources, Inc. $METC

FNY Investment Advisers LLC decreased its position in Ramaco Resources, Inc. (NASDAQ:METC) by 86.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,478 shares of the energy company’s stock after selling 151,241 shares during the period. FNY Investment Advisers LLC’s holdings in Ramaco Resources were worth $779,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Goldman Sachs Group Inc. increased its stake in shares of Ramaco Resources by 27.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 274,545 shares of the energy company’s stock valued at $2,260,000 after purchasing an additional 58,304 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Ramaco Resources by 1.8% during 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. Geode Capital Management LLC grew its stake in Ramaco Resources by 25.0% in the 2nd quarter. Geode Capital Management LLC now owns 687,343 shares of the energy company’s stock valued at $9,033,000 after acquiring an additional 137,635 shares during the period. Intech Investment Management LLC increased its holdings in Ramaco Resources by 20.1% in the 2nd quarter. Intech Investment Management LLC now owns 21,071 shares of the energy company’s stock worth $277,000 after acquiring an additional 3,533 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in Ramaco Resources by 40.1% in the 2nd quarter. Rhumbline Advisers now owns 49,605 shares of the energy company’s stock worth $652,000 after acquiring an additional 14,199 shares in the last quarter. Institutional investors and hedge funds own 74.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Ramaco Resources in a report on Monday, December 29th. Morgan Stanley started coverage on shares of Ramaco Resources in a research report on Friday, December 5th. They set an “equal weight” rating and a $17.50 price target for the company. Robert W. Baird decreased their price target on shares of Ramaco Resources from $40.00 to $30.00 and set an “outperform” rating on the stock in a research note on Friday, February 27th. Jefferies Financial Group upgraded Ramaco Resources from a “hold” rating to a “buy” rating and cut their price objective for the stock from $33.00 to $30.00 in a research note on Tuesday, January 20th. Finally, Zacks Research cut Ramaco Resources from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Ramaco Resources presently has an average rating of “Hold” and an average target price of $31.93.

Ramaco Resources Price Performance

Shares of NASDAQ METC opened at $13.61 on Thursday. The firm has a 50-day simple moving average of $18.22 and a 200-day simple moving average of $23.37. The company has a quick ratio of 4.66, a current ratio of 5.46 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $761.62 million, a price-to-earnings ratio of -13.75 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 posted its quarterly earnings results 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 for the quarter, compared to analyst estimates of $143.48 million. Ramaco Resources had a negative net margin of 9.59% and a negative return on equity of 12.01%. Ramaco Resources’s quarterly revenue was down 25.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.02 earnings per share. On average, equities analysts predict that Ramaco Resources, Inc. will post 0.05 earnings per share for the current fiscal year.

Ramaco Resources announced that its board has approved a stock repurchase plan on Tuesday, December 23rd that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the energy company to reacquire up to 9.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

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.