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. lifted its position in Ramaco Resources, Inc. (NASDAQ:METC - Free Report) by 52.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 49,891 shares of the energy company's stock after acquiring an additional 17,069 shares during the period. Invesco Ltd. owned about 0.11% of Ramaco Resources worth $411,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in METC. BNP Paribas Financial Markets acquired a new position in Ramaco Resources in the 4th quarter worth approximately $80,000. Atria Wealth Solutions Inc. purchased a new stake in shares of Ramaco Resources in the first quarter valued at $82,000. Parkwood LLC acquired a new stake in shares of Ramaco Resources in the fourth quarter worth $109,000. XTX Topco Ltd purchased a new position in shares of Ramaco Resources during the first quarter valued at $111,000. Finally, Cetera Investment Advisers raised 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 valued at $132,000 after buying an additional 2,760 shares during the period. Hedge funds and other institutional investors own 74.49% of the company's stock.

Insider Activity

In related news, Director Peter A. Leidel sold 1,600,000 shares of Ramaco Resources 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 sale, the director owned 2,502,930 shares of the company's stock, valued at approximately $46,929,937.50. The trade was a 39.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 36.20% of the company's stock.

Ramaco Resources Stock Down 7.4%

Shares of NASDAQ METC traded down $1.92 during trading hours on Thursday, hitting $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 moving average price is $22.05 and its two-hundred day moving average price is $13.82. Ramaco Resources, Inc. has a 52 week low of $6.30 and a 52 week high of $28.40. The company has a market capitalization of $1.34 billion, a P/E ratio of -53.76 and a beta of 1.26. 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 (NASDAQ:METC - Get Free Report) last posted its earnings results on Thursday, July 31st. The energy company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.07). The business had revenue of $152.96 million during the quarter, compared to analyst estimates of $131.55 million. Ramaco Resources had a negative net margin of 3.17% and a negative return on equity of 5.55%. Ramaco Resources's revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.08 earnings per share. Analysts anticipate that Ramaco Resources, Inc. will post 0.05 EPS for the current fiscal year.

Wall Street Analyst Weigh In

METC has been the subject of a number of research reports. Zacks Research upgraded Ramaco Resources from a "strong sell" rating to a "hold" rating in a research report on Friday, August 29th. 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 reaffirmed a "buy" rating and set a $27.00 price objective (up from $15.00) on shares of Ramaco Resources in a research report on Wednesday, July 16th. Finally, Benchmark reiterated a "buy" rating and issued a $24.00 target price (up previously from $14.00) on shares of Ramaco Resources in a research report on Tuesday, August 5th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $21.67.

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.