Nuveen LLC Acquires New Position in Ramaco Resources, Inc. $METC

Key Points

• Nuveen LLC has invested approximately $593,000 in Ramaco Resources, Inc., acquiring 72,024 shares and owning about 0.16% of the company.
• Several large investors have increased their positions in Ramaco, with a total of 74.49% of the stock currently held by institutional investors and hedge funds.
• Analyst ratings for Ramaco Resources show a mixed outlook, with a consensus rating of "Moderate Buy" and price targets ranging from $21.67 to $27.00.

Nuveen LLC purchased a new stake in Ramaco Resources, Inc. (NASDAQ:METC - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 72,024 shares of the energy company's stock, valued at approximately $593,000. Nuveen LLC owned 0.16% of Ramaco Resources as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in METC. Raymond James Financial Inc. purchased a new stake in shares of Ramaco Resources in the 4th quarter valued at approximately $487,000. Barclays PLC raised its stake in shares of Ramaco Resources by 8.6% in the 4th quarter. Barclays PLC now owns 48,217 shares of the energy company's stock valued at $495,000 after acquiring an additional 3,808 shares during the period. First Trust Advisors LP raised its stake in shares of Ramaco Resources by 39.8% in the 4th quarter. First Trust Advisors LP now owns 25,178 shares of the energy company's stock valued at $258,000 after acquiring an additional 7,174 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Ramaco Resources by 8.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,745,409 shares of the energy company's stock valued at $17,907,000 after acquiring an additional 142,423 shares during the period. Finally, MetLife Investment Management LLC raised its stake in shares of Ramaco Resources by 13.9% in the 4th quarter. MetLife Investment Management LLC now owns 16,189 shares of the energy company's stock valued at $166,000 after acquiring an additional 1,970 shares during the period. 74.49% of the stock is owned by hedge funds and other institutional investors.

Ramaco Resources Stock Performance

Shares of METC stock traded down $0.78 during mid-day trading on Tuesday, hitting $25.15. The stock had a trading volume of 697,789 shares, compared to its average volume of 1,596,271. Ramaco Resources, Inc. has a fifty-two week low of $6.30 and a fifty-two week high of $28.40. The firm has a market cap of $1.39 billion, a PE ratio of -55.82 and a beta of 1.26. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.36 and a quick ratio of 0.84. The company's 50-day simple moving average is $21.21 and its 200-day simple moving average is $13.55.

Ramaco Resources (NASDAQ:METC - Get Free Report) last released its earnings results on Thursday, July 31st. The energy company reported ($0.29) EPS for the quarter, missing the consensus estimate 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 analyst estimates of $131.55 million. During the same quarter last year, the business posted $0.08 EPS. The firm's revenue was down 1.5% on a year-over-year basis. Sell-side analysts anticipate that Ramaco Resources, Inc. will post 0.05 earnings per share for the current year.

Insider Activity at Ramaco Resources

In related news, Director Peter A. Leidel sold 1,600,000 shares of the firm's stock in a transaction dated 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 sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 36.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

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.