14,285 Shares in Ramaco Resources, Inc. $METC Acquired 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 acquired a new stake in shares of Ramaco Resources, Inc. (NASDAQ:METC - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 14,285 shares of the energy company's stock, valued at approximately $115,000.

Other hedge funds have also made changes to their positions in the company. XTX Topco Ltd acquired a new position in shares of Ramaco Resources during the 1st quarter valued at about $111,000. Cetera Investment Advisers increased its holdings in shares of Ramaco Resources by 27.3% during the 4th quarter. Cetera Investment Advisers now owns 12,872 shares of the energy company's stock valued at $132,000 after acquiring an additional 2,760 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of Ramaco Resources by 59.4% during the 1st quarter. Exchange Traded Concepts LLC now owns 69,763 shares of the energy company's stock valued at $574,000 after acquiring an additional 25,992 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Ramaco Resources by 3.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 41,656 shares of the energy company's stock valued at $427,000 after acquiring an additional 1,425 shares during the last quarter. Finally, CenterBook Partners LP increased its holdings in shares of Ramaco Resources by 151.0% during the 1st quarter. CenterBook Partners LP now owns 1,678,594 shares of the energy company's stock valued at $13,815,000 after acquiring an additional 1,009,782 shares during the last quarter. Institutional investors and hedge funds own 74.49% of the company's stock.

Ramaco Resources Stock Performance

Shares of METC stock traded down $1.92 during mid-day trading on Thursday, reaching $24.19. The stock had a trading volume of 2,624,777 shares, compared to its average volume of 2,770,275. The firm's 50 day simple moving average is $22.05 and its 200 day simple moving average is $13.82. The company has a quick ratio of 0.84, a current ratio of 1.36 and a debt-to-equity ratio of 0.36. Ramaco Resources, Inc. has a one year low of $6.30 and a one year high of $28.40. The firm has a market cap of $1.34 billion, a PE ratio of -53.76 and a beta of 1.26.

Ramaco Resources (NASDAQ:METC - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The energy company reported ($0.29) EPS 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 firm had revenue of $152.96 million during the quarter, compared to the consensus estimate of $131.55 million. During the same quarter in the prior year, the business posted $0.08 EPS. Ramaco Resources's revenue was down 1.5% compared to the same quarter last year. On average, analysts forecast that Ramaco Resources, Inc. will post 0.05 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on METC. Benchmark reissued 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. Wall Street Zen downgraded Ramaco Resources from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Zacks Research upgraded Ramaco Resources from a "strong sell" rating to a "hold" rating in a research note on Friday, August 29th. Finally, Jefferies Financial Group restated a "buy" rating and set a $27.00 target price (up previously from $15.00) on shares of Ramaco Resources in a research note on Wednesday, July 16th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Ramaco Resources currently has a consensus rating of "Moderate Buy" and an average price target of $21.67.

Insider Activity 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 that occurred on Friday, August 8th. The stock was sold at an average price of $18.75, for a total value of $30,000,000.00. Following the completion of the sale, the director owned 2,502,930 shares in the company, valued at approximately $46,929,937.50. This trade represents a 39.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 36.20% of the company's stock.

Ramaco Resources Profile

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.