Gratia Capital LLC Acquires Shares of 138,000 Ramaco Resources, Inc. $METC

Gratia Capital LLC bought a new position in shares of Ramaco Resources, Inc. (NASDAQ:METC) during the second quarter, Holdings Channel.com reports. The firm bought 138,000 shares of the energy company’s stock, valued at approximately $1,826,000. Ramaco Resources comprises 1.1% of Gratia Capital LLC’s investment portfolio, making the stock its 23rd largest position.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. California State Teachers Retirement System boosted its position in shares of Ramaco Resources by 1,370.4% during the second quarter. California State Teachers Retirement System now owns 527,387 shares of the energy company’s stock valued at $6,977,000 after purchasing an additional 491,521 shares in the last quarter. AlphaGrep UK Ltd raised its holdings in Ramaco Resources by 19.5% in the second quarter. AlphaGrep UK Ltd now owns 18,620 shares of the energy company’s stock worth $246,000 after purchasing an additional 3,044 shares in the last quarter. Van ECK Associates Corp raised its holdings in Ramaco Resources by 8.4% in the second quarter. Van ECK Associates Corp now owns 38,894 shares of the energy company’s stock worth $515,000 after purchasing an additional 3,028 shares in the last quarter. Hsbc Holdings PLC lifted its position in Ramaco Resources by 134.7% during the second quarter. Hsbc Holdings PLC now owns 29,899 shares of the energy company’s stock valued at $388,000 after buying an additional 17,158 shares during the period. Finally, Jupiter Topco LLC purchased a new position in Ramaco Resources during the second quarter valued at $195,000. Hedge funds and other institutional investors own 74.49% of the company’s stock.

Insider Buying and Selling at Ramaco Resources

In other news, major shareholder Discovery Capital Management, sold 500,000 shares of the company’s stock in a transaction on 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 transaction, the insider directly owned 4,811,360 shares of the company’s stock, valued at $46,044,715.20. This represents a 9.41% decrease in their ownership of the stock. 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 corporate insiders.

Ramaco Resources Trading Down 2.0%

NASDAQ:METC opened at $12.28 on Thursday. The stock has a market cap of $778.43 million, a price-to-earnings ratio of -11.48 and a beta of 1.39. The company has a quick ratio of 3.31, a current ratio of 4.23 and a debt-to-equity ratio of 1.23. The company’s 50 day moving average price is $11.75 and its 200-day moving average price is $13.66. Ramaco Resources, Inc. has a 52 week low of $8.56 and a 52 week high of $57.80.

Ramaco Resources (NASDAQ:METC) last released its quarterly earnings data on Tuesday, August 4th. The energy company reported ($0.26) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.26). Ramaco Resources had a negative return on equity of 13.54% and a negative net margin of 11.98%.The business had revenue of $122.32 million for the quarter, compared to analysts’ expectations of $133.11 million. On average, equities research analysts forecast that Ramaco Resources, Inc. will post -1.02 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Benchmark reduced 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 cut shares of Ramaco Resources from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 22nd. Weiss Ratings lowered shares of Ramaco Resources from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday, August 6th. Robert W. Baird restated a “neutral” rating and issued a $13.00 price objective on shares of Ramaco Resources in a report on Tuesday, August 18th. Finally, The Goldman Sachs Group decreased their target price on shares of Ramaco Resources from $13.00 to $11.00 and set a “neutral” rating for the company in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Ramaco Resources presently has a consensus rating of “Hold” and a consensus target price of $22.43.

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.