Lunt Capital Management Inc. Has $1.13 Million Stock Position in Ramaco Resources, Inc. $METC

Key Points

• Lunt Capital Management cut its Ramaco Resources stake by 73% in the second quarter, selling 230,666 shares and retaining 85,170 shares worth approximately $1.13 million. Institutional investors collectively own 74.49% of METC.
• Ramaco Resources reported a quarterly loss of $0.26 per share, in line with estimates, while 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.
• METC shares opened at $12.28, while analyst sentiment remained mixed, resulting in a consensus “Hold” rating and an average price target of $22.43. A major shareholder also sold 500,000 shares for $4.785 million.

Lunt Capital Management Inc. lowered its stake in Ramaco Resources, Inc. (NASDAQ:METC - Free Report) by 73.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 85,170 shares of the energy company's stock after selling 230,666 shares during the period. Lunt Capital Management Inc. owned approximately 0.13% of Ramaco Resources worth $1,127,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of METC. Goldman Sachs Group Inc. grew its stake in Ramaco Resources by 27.0% during the first quarter. Goldman Sachs Group Inc. now owns 274,545 shares of the energy company's stock worth $2,260,000 after buying an additional 58,304 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Ramaco Resources by 1.8% during the 1st quarter. Empowered Funds LLC now owns 123,110 shares of the energy company's stock worth $1,013,000 after acquiring an additional 2,223 shares during the period. Rhumbline Advisers lifted its holdings in shares of Ramaco Resources by 40.1% during the 2nd quarter. Rhumbline Advisers now owns 49,605 shares of the energy company's stock worth $652,000 after acquiring an additional 14,199 shares during the period. Hsbc Holdings PLC boosted its position in shares of Ramaco Resources by 91.4% during the 2nd quarter. Hsbc Holdings PLC now owns 27,338 shares of the energy company's stock worth $358,000 after acquiring an additional 13,053 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its position in shares of Ramaco Resources by 144.8% during the 2nd quarter. New York State Common Retirement Fund now owns 32,039 shares of the energy company's stock worth $421,000 after acquiring an additional 18,951 shares in the last quarter. Institutional investors own 74.49% of the company's stock.

Ramaco Resources Trading Down 2.0%

NASDAQ METC opened at $12.28 on Thursday. The company has a market cap of $778.43 million, a price-to-earnings ratio of -11.48 and a beta of 1.39. Ramaco Resources, Inc. has a twelve month low of $8.56 and a twelve month high of $57.80. The company has a quick ratio of 3.31, a current ratio of 4.23 and a debt-to-equity ratio of 1.23. The business's fifty day moving average is $11.75 and its 200 day moving average is $13.66.

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

Insider Buying and Selling

In other Ramaco Resources news, major shareholder Discovery Capital Management, sold 500,000 shares of the company's stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $9.57, for a total value of $4,785,000.00. Following the completion of the transaction, the insider directly owned 4,811,360 shares in the company, valued at approximately $46,044,715.20. This represents a 9.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 46.07% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have commented on METC. Robert W. Baird restated a "neutral" rating and set a $13.00 price objective on shares of Ramaco Resources in a research report on Tuesday, August 18th. The Goldman Sachs Group decreased their price target on Ramaco Resources from $13.00 to $11.00 and set a "neutral" rating on the stock in a research note on Thursday, August 6th. Weiss Ratings cut Ramaco Resources from a "sell (d)" rating to a "sell (d-)" rating in a report on Thursday, August 6th. Benchmark dropped their price objective on Ramaco Resources from $38.00 to $26.00 and set a "buy" rating for the company in a research report on Thursday, August 6th. Finally, B. Riley Financial reissued a "buy" rating on shares of Ramaco Resources in a research note on Tuesday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $22.43.

About Ramaco Resources

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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