Dynamic Technology Lab Private Ltd Makes New Investment in Ramaco Resources, Inc. $METC

Key Points

• Dynamic Technology Lab Private Ltd has acquired a new position in Ramaco Resources, Inc., purchasing 67,460 shares valued at approximately $555,000.
• Ramaco Resources reported a loss of $0.29 earnings per share for the latest quarter, missing analysts' expectations, despite achieving revenues of $152.96 million.
• Analysts have varied price targets for Ramaco Resources stock, with Benchmark raising their target to $24.00 and Jefferies to $27.00, reflecting positive sentiment on the stock despite recent financial performance.

Dynamic Technology Lab Private Ltd purchased a new position in Ramaco Resources, Inc. (NASDAQ:METC - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 67,460 shares of the energy company's stock, valued at approximately $555,000. Dynamic Technology Lab Private Ltd owned about 0.15% of Ramaco Resources as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of METC. Brooklyn Investment Group bought a new stake in shares of Ramaco Resources during the 1st quarter valued at about $25,000. State of Wyoming acquired a new position in Ramaco Resources in the first quarter valued at approximately $50,000. AlphaQuest LLC boosted its stake in Ramaco Resources by 30.6% in the first quarter. AlphaQuest LLC now owns 6,332 shares of the energy company's stock valued at $52,000 after acquiring an additional 1,482 shares during the period. BNP Paribas Financial Markets bought a new position in shares of Ramaco Resources during the fourth quarter valued at approximately $80,000. Finally, Quantbot Technologies LP acquired a new stake in shares of Ramaco Resources during the 1st quarter worth approximately $73,000. 74.49% of the stock is owned by institutional investors and hedge funds.

Ramaco Resources Trading Up 2.2%

NASDAQ:METC opened at $26.11 on Thursday. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of -58.02 and a beta of 1.26. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.84 and a current ratio of 1.36. Ramaco Resources, Inc. has a 1 year low of $6.30 and a 1 year high of $28.40. The business has a fifty day moving average of $21.80 and a 200-day moving average of $13.72.

Ramaco Resources (NASDAQ:METC - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The energy company reported ($0.29) earnings per share for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.07). The company had revenue of $152.96 million for the quarter, compared to the consensus estimate of $131.55 million. Ramaco Resources had a negative net margin of 3.17% and a negative return on equity of 5.55%. Ramaco Resources's revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.08 earnings per share. Equities analysts predict that Ramaco Resources, Inc. will post 0.05 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on METC shares. Benchmark reissued a "buy" rating and issued a $24.00 price target (up previously from $14.00) on shares of Ramaco Resources in a report on Tuesday, August 5th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $27.00 target price (up from $15.00) on shares of Ramaco Resources in a research report on Wednesday, July 16th. Zacks Research raised shares of Ramaco Resources from a "strong sell" rating to a "hold" rating in a report on Friday, August 29th. Finally, Wall Street Zen lowered shares of Ramaco Resources from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $21.67.

Insider Activity

In related news, Director Peter A. Leidel sold 1,600,000 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $18.75, for a total transaction of $30,000,000.00. Following the transaction, the director owned 2,502,930 shares in the company, valued at $46,929,937.50. This trade represents a 39.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 36.20% of the stock is owned by company insiders.

About Ramaco Resources

Ramaco Resources, Inc engages in the development, operation, and sale of metallurgical coal. Its development portfolio includes the Elk Creek project that covers an area of approximately 20,200 acres located in southern West Virginia; the Berwind property covering an area of approximately 62,500 acres situated on the border of West Virginia and Virginia; the Knox Creek property, which covers an area of approximately 64,050 acres is located in Virginia; the Maben property covering an area of approximately 28,000 acres situated in southwestern Pennsylvania southern West Virginia; and the Brook Mine property that covers an area of approximately 16,000 acres located in northeastern Wyoming.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.