Gratia Capital LLC Takes $1.83 Million Position in Ramaco Resources, Inc. $METC

Key Points

• Gratia Capital acquired 138,000 shares of Ramaco Resources valued at approximately $1.83 million, representing 0.22% of the company and 1.1% of Gratia’s portfolio. Institutional investors collectively own 74.49% of METC.
• Ramaco reported a quarterly loss of $0.26 per share, in line with estimates, but revenue of $122.32 million fell short of the $133.11 million consensus forecast. Analysts expect a full-year loss of $1.02 per share.
• Analyst sentiment is mixed, with a consensus rating of “Hold” and an average price target of $22.43. METC opened at $12.28, while major shareholder Discovery Capital Management recently sold 500,000 shares for $4.79 million.

Gratia Capital LLC acquired a new position in Ramaco Resources, Inc. (NASDAQ:METC - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 138,000 shares of the energy company's stock, valued at approximately $1,826,000. Ramaco Resources makes up 1.1% of Gratia Capital LLC's holdings, making the stock its 23rd largest holding. Gratia Capital LLC owned 0.22% of Ramaco Resources as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in METC. Texas Yale Capital Corp. boosted its position in shares of Ramaco Resources by 331.9% during the 4th quarter. Texas Yale Capital Corp. now owns 142,488 shares of the energy company's stock valued at $2,565,000 after acquiring an additional 109,500 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in 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 valued at $22,179,000 after purchasing an additional 398,626 shares during the last quarter. Mizuho Markets Americas LLC purchased a new position in Ramaco Resources in the 4th quarter worth approximately $2,309,000. Bank of New York Mellon Corp bought a new position in shares of Ramaco Resources in the 2nd quarter worth $1,486,000. Finally, Quantbot Technologies LP raised its position in shares of Ramaco Resources by 54.1% during the 2nd quarter. Quantbot Technologies LP now owns 127,404 shares of the energy company's stock valued at $1,686,000 after buying an additional 44,710 shares in the last quarter. 74.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Ramaco Resources

In other Ramaco Resources news, major shareholder Discovery Capital Management, sold 500,000 shares of the business's stock in a transaction 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 directly owned 4,811,360 shares of the company's stock, valued at approximately $46,044,715.20. The trade was a 9.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 46.07% of the company's stock.

Ramaco Resources Trading Down 2.0%

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

Ramaco Resources (NASDAQ:METC - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The energy company reported ($0.26) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.26). The firm had revenue of $122.32 million for the quarter, compared to analyst estimates of $133.11 million. Ramaco Resources had a negative return on equity of 13.54% and a negative net margin of 11.98%. Analysts predict that Ramaco Resources, Inc. will post -1.02 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently issued reports on METC. B. Riley Financial reiterated a "buy" rating on shares of Ramaco Resources in a report on Tuesday, August 18th. 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 report on Thursday, August 6th. Zacks Research cut shares of Ramaco Resources from a "hold" rating to a "strong sell" rating in a research note on Friday, July 17th. Finally, Benchmark decreased 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. One investment 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 given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $22.43.

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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