Bank of New York Mellon Corp Takes Position in Ramaco Resources, Inc. $METC

Bank of New York Mellon Corp bought a new stake in shares of Ramaco Resources, Inc. (NASDAQ:METC - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 112,333 shares of the energy company's stock, valued at approximately $1,486,000. Bank of New York Mellon Corp owned approximately 0.17% of Ramaco Resources as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Texas Yale Capital Corp. lifted its position in shares of Ramaco Resources by 331.9% in the 4th quarter. Texas Yale Capital Corp. now owns 142,488 shares of the energy company's stock worth $2,565,000 after purchasing an additional 109,500 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Ramaco Resources by 38.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,435,059 shares of the energy company's stock valued at $22,179,000 after purchasing an additional 398,626 shares in the last quarter. Mizuho Markets Americas LLC purchased a new position in shares of Ramaco Resources during the fourth quarter valued at about $2,309,000. Quarry LP purchased a new position in shares of Ramaco Resources during the fourth quarter valued at about $27,000. Finally, Royal Bank of Canada raised its stake in Ramaco Resources by 16.4% in the first quarter. Royal Bank of Canada now owns 81,583 shares of the energy company's stock worth $1,262,000 after buying an additional 11,474 shares in the last quarter. Hedge funds and other institutional investors own 74.49% of the company's stock.

Analyst Ratings Changes

METC has been the subject of several research analyst reports. Wall Street Zen lowered shares of Ramaco Resources from a "sell" rating to a "strong sell" rating in a report on Saturday, August 22nd. Benchmark reduced their target price on Ramaco Resources from $38.00 to $26.00 and set a "buy" rating on the stock in a report on Thursday, August 6th. B. Riley Financial reissued a "buy" rating on shares of Ramaco Resources in a research report on Tuesday, August 18th. Weiss Ratings cut Ramaco Resources from a "sell (d)" rating to a "sell (d-)" rating in a research note on Thursday, August 6th. Finally, Zacks Research lowered Ramaco Resources from a "hold" rating to a "strong sell" rating in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $22.43.

Ramaco Resources Price Performance

Shares of NASDAQ:METC opened at $12.28 on Thursday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.31 and a current ratio of 4.23. The firm has a market cap of $778.43 million, a price-to-earnings ratio of -11.48 and a beta of 1.39. The business has a 50-day simple moving average of $11.75 and a two-hundred day simple moving average of $13.66. Ramaco Resources, Inc. has a fifty-two week low of $8.56 and a fifty-two week high of $57.80.

Ramaco Resources (NASDAQ:METC - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The energy company reported ($0.26) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates 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 the consensus estimate of $133.11 million. On average, analysts expect that Ramaco Resources, Inc. will post -1.02 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Discovery Capital Management, sold 500,000 shares of the stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $9.57, for a total transaction of $4,785,000.00. Following the transaction, the insider owned 4,811,360 shares in the company, 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 Securities & Exchange Commission, which is available at the SEC website. 46.07% of the stock is currently owned by company insiders.

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.

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