Invesco Ltd. Buys 17,069 Shares of Ramaco Resources, Inc. $METC

Key Points

• Invesco Ltd. increased its stake in Ramaco Resources by 52% during the first quarter, now holding 49,891 shares valued at approximately $411,000.
• Ramaco Resources reported a loss of $0.29 EPS for its latest quarter, falling short of analyst expectations, while quarterly revenue declined by 1.5% year-over-year.
• Insider trading saw Director Peter A. Leidel sell 1.6 million shares for approximately $30 million, reducing his ownership by 39%.

Invesco Ltd. increased its holdings in shares of Ramaco Resources, Inc. (NASDAQ:METC - Free Report) by 52.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 49,891 shares of the energy company's stock after purchasing an additional 17,069 shares during the quarter. Invesco Ltd. owned approximately 0.11% of Ramaco Resources worth $411,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. XTX Topco Ltd acquired a new stake in shares of Ramaco Resources during the first quarter valued at $111,000. Cetera Investment Advisers lifted its position in Ramaco Resources by 27.3% during the fourth quarter. Cetera Investment Advisers now owns 12,872 shares of the energy company's stock worth $132,000 after buying an additional 2,760 shares during the period. Exchange Traded Concepts LLC lifted its position in Ramaco Resources by 59.4% during the first quarter. Exchange Traded Concepts LLC now owns 69,763 shares of the energy company's stock worth $574,000 after buying an additional 25,992 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Ramaco Resources by 3.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 41,656 shares of the energy company's stock worth $427,000 after buying an additional 1,425 shares during the period. Finally, CenterBook Partners LP lifted its position 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 worth $13,815,000 after buying an additional 1,009,782 shares during the period. Hedge funds and other institutional investors own 74.49% of the company's stock.

Insider Activity

In other news, Director Peter A. Leidel sold 1,600,000 shares of the stock in a transaction 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 transaction, the director owned 2,502,930 shares of the company's stock, valued at approximately $46,929,937.50. This represents a 39.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 36.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on METC. Zacks Research upgraded Ramaco Resources from a "strong sell" rating to a "hold" rating in a report on Friday, August 29th. Jefferies Financial Group reiterated a "buy" rating and set a $27.00 target price (up from $15.00) on shares of Ramaco Resources in a report on Wednesday, July 16th. Wall Street Zen downgraded Ramaco Resources from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Finally, Benchmark reiterated a "buy" rating and set a $24.00 target price (up from $14.00) on shares of Ramaco Resources in a report on Tuesday, August 5th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $21.67.

Ramaco Resources Stock Performance

METC traded up $0.40 during trading on Wednesday, reaching $25.95. 1,068,810 shares of the company were exchanged, compared to its average volume of 1,602,077. The stock has a market cap of $1.43 billion, a P/E ratio of -57.69 and a beta of 1.26. The firm has a 50 day moving average of $21.52 and a 200 day moving average of $13.63. The company has a current ratio of 1.36, a quick ratio of 0.84 and a debt-to-equity ratio of 0.36. Ramaco Resources, Inc. has a 52 week low of $6.30 and a 52 week high of $28.40.

Ramaco Resources (NASDAQ:METC - Get Free Report) last issued 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). The company had revenue of $152.96 million for the quarter, compared to the consensus estimate of $131.55 million. Ramaco Resources had a negative return on equity of 5.55% and a negative net margin of 3.17%.Ramaco Resources's quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.08 earnings per share. On average, sell-side analysts forecast 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.