482,036 Shares of Ramaco Resources, Inc. $METC Purchased by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management acquired 482,036 shares of Ramaco Resources, valued at approximately $3.99 million, giving it a 0.76% stake. Institutional investors collectively own 74.49% of the company.
• Ramaco shares opened at $7.22, near their 12-month low of $7.21 and well below the 12-month high of $45.12. The company reported a quarterly loss of $0.26 per share and revenue of $122.32 million, below analyst expectations.
• Analyst sentiment remains mixed but centers on a “Hold” rating, with a consensus price target of $22.43; targets range from $11 to $26 among recent analysts.

Assenagon Asset Management S.A. purchased a new position in Ramaco Resources, Inc. (NASDAQ:METC - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 482,036 shares of the energy company's stock, valued at approximately $3,986,000. Assenagon Asset Management S.A. owned approximately 0.76% of Ramaco Resources at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. State Street Corp raised its holdings in Ramaco Resources by 6.7% during the 2nd quarter. State Street Corp now owns 3,059,847 shares of the energy company's stock worth $40,482,000 after buying an additional 192,663 shares during the period. Dimensional Fund Advisors LP increased its position 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 worth $22,179,000 after acquiring an additional 398,626 shares in the last quarter. Gratia Capital LLC bought a new stake in shares of Ramaco Resources during the second quarter worth $1,826,000. Quantbot Technologies LP raised its holdings in shares of Ramaco Resources by 54.1% during the second quarter. Quantbot Technologies LP now owns 127,404 shares of the energy company's stock worth $1,686,000 after acquiring an additional 44,710 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of Ramaco Resources by 8.1% during the first quarter. Bank of New York Mellon Corp now owns 108,724 shares of the energy company's stock worth $1,681,000 after acquiring an additional 8,114 shares during the period. Institutional investors and hedge funds own 74.49% of the company's stock.

Ramaco Resources Stock Performance

Shares of METC opened at $7.22 on Wednesday. Ramaco Resources, Inc. has a 12 month low of $7.21 and a 12 month high of $45.12. The firm has a fifty day simple moving average of $10.47 and a 200 day simple moving average of $12.41. The stock has a market capitalization of $457.66 million, a price-to-earnings ratio of -6.75 and a beta of 1.64. The company has a current ratio of 4.23, a quick ratio of 3.31 and a debt-to-equity ratio of 1.23.

Ramaco Resources (NASDAQ:METC - Get Free Report) last issued its quarterly earnings results 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 net margin of 11.98% and a negative return on equity of 13.54%. The firm had revenue of $122.32 million for the quarter, compared to analyst estimates of $133.11 million. Research analysts forecast that Ramaco Resources, Inc. will post -0.97 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on METC shares. 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 reiterated a "neutral" rating and set a $13.00 target price on shares of Ramaco Resources in a report on Tuesday, August 18th. The Goldman Sachs Group lowered their target price on Ramaco Resources from $13.00 to $11.00 and set a "neutral" rating for the company in a report on Thursday, August 6th. Zacks Research raised Ramaco Resources from a "strong sell" rating to a "hold" rating in a research note on Friday, October 16th. Finally, Benchmark cut their price target on Ramaco Resources from $38.00 to $26.00 and set a "buy" rating on the stock in a report on Thursday, August 6th. Three investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $22.43.

Insider Buying and Selling at Ramaco Resources

In related news, major shareholder Discovery Capital Management, sold 500,000 shares of the company'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 sale, the insider owned 4,811,360 shares in the company, valued at approximately $46,044,715.20. This represents a 9.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 46.07% of the stock is owned by insiders.

About Ramaco Resources

Ramaco Resources, Inc is a producer of metallurgical coal, which is used primarily in the manufacture of steel and metallurgical coke. The company develops and operates coal mining properties and sells its products to domestic and international steel, coke and industrial customers.

Ramaco's operations and development properties are located in major U.S. coal-producing regions, including southern West Virginia, southwestern Virginia and Wyoming. Its portfolio has included the Elk Creek and Berwind mining complexes in West Virginia, the RAM No.

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