14,285 Shares in Ramaco Resources, Inc. $METC Bought by Hsbc Holdings PLC

Key Points

• HSBC Holdings PLC has acquired a new stake in Ramaco Resources, Inc. worth approximately $115,000, purchasing 14,285 shares during the first quarter.
• Director Peter A. Leidel sold 1.6 million shares for $30 million, reducing his ownership by 39% and leaving him with around 2.5 million shares.
• Analysts have recently set new price targets for Ramaco Resources, with Jefferies raising its price objective to $27.00 and Benchmark to $24.00, indicating a positive outlook on the stock.

Hsbc Holdings PLC purchased a new stake in shares of Ramaco Resources, Inc. (NASDAQ:METC - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 14,285 shares of the energy company's stock, valued at approximately $115,000.

Several other hedge funds have also bought and sold shares of the stock. CenterBook Partners LP grew its holdings in Ramaco Resources by 151.0% during the first quarter. CenterBook Partners LP now owns 1,678,594 shares of the energy company's stock valued at $13,815,000 after purchasing an additional 1,009,782 shares during the period. American Century Companies Inc. raised its position in Ramaco Resources by 8.9% during the first quarter. American Century Companies Inc. now owns 948,328 shares of the energy company's stock valued at $7,805,000 after purchasing an additional 77,371 shares during the period. Point72 Asset Management L.P. raised its position in Ramaco Resources by 98.9% during the fourth quarter. Point72 Asset Management L.P. now owns 696,531 shares of the energy company's stock valued at $7,146,000 after purchasing an additional 346,265 shares during the period. Graham Capital Management L.P. purchased a new stake in Ramaco Resources during the fourth quarter valued at approximately $3,588,000. Finally, Pacer Advisors Inc. purchased a new stake in Ramaco Resources during the first quarter valued at approximately $2,748,000. Institutional investors own 74.49% of the company's stock.

Analyst Ratings Changes

METC has been the subject of a number of recent analyst reports. Wall Street Zen cut Ramaco Resources from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Zacks Research upgraded Ramaco Resources from a "strong sell" rating to a "hold" rating in a report on Friday, August 29th. Jefferies Financial Group restated a "buy" rating and set a $27.00 price objective (up previously from $15.00) on shares of Ramaco Resources in a report on Wednesday, July 16th. Finally, Benchmark restated a "buy" rating and set a $24.00 price objective (up previously from $14.00) on shares of Ramaco Resources in a report on Tuesday, August 5th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $21.67.

Insider Transactions at Ramaco Resources

In other Ramaco Resources news, Director Peter A. Leidel sold 1,600,000 shares of the firm's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $18.75, for a total value of $30,000,000.00. Following the completion of the transaction, the director owned 2,502,930 shares of the company's stock, valued at approximately $46,929,937.50. This trade represents a 39.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 36.20% of the company's stock.

Ramaco Resources Stock Down 1.5%

METC stock traded down $0.38 on Tuesday, hitting $25.55. 2,169,981 shares of the company's stock were exchanged, compared to its average volume of 1,605,707. The firm has a 50 day moving average price of $21.21 and a two-hundred day moving average price of $13.55. 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 12-month low of $6.30 and a 12-month high of $28.40. The stock has a market cap of $1.41 billion, a P/E ratio of -56.78 and a beta of 1.26.

Ramaco Resources (NASDAQ:METC - Get Free Report) last issued its quarterly earnings results 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). Ramaco Resources had a negative return on equity of 5.55% and a negative net margin of 3.17%.The business had revenue of $152.96 million for the quarter, compared to analysts' expectations of $131.55 million. During the same quarter in the previous year, the firm posted $0.08 EPS. Ramaco Resources's revenue was down 1.5% on a year-over-year basis. As a group, equities research analysts expect that Ramaco Resources, Inc. will post 0.05 EPS for the current fiscal year.

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.