Ramaco Resources, Inc. $METC Shares Sold by Comerica Bank

Key Points

• Comerica Bank has significantly reduced its stake in Ramaco Resources by 60.3%, after selling 41,182 shares, leaving it with 27,067 shares valued at approximately $223,000.
• Ramaco Resources reported a loss of ($0.29) earnings per share for the last quarter, which missed analysts' expectations, but had a revenue of $152.96 million exceeding predictions.
• Notably, insider Peter A. Leidel sold 1.6 million shares at an average price of $18.75, leading to a substantial decrease in his holdings, which reflects ongoing changes in investor sentiment in the company.

Comerica Bank reduced its position in shares of Ramaco Resources, Inc. (NASDAQ:METC - Free Report) by 60.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,067 shares of the energy company's stock after selling 41,182 shares during the period. Comerica Bank owned about 0.06% of Ramaco Resources worth $223,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Jump Financial LLC grew its stake in shares of Ramaco Resources by 899.0% in the first quarter. Jump Financial LLC now owns 108,130 shares of the energy company's stock worth $890,000 after purchasing an additional 97,306 shares in the last quarter. AlphaQuest LLC boosted its stake in Ramaco Resources by 30.6% during the first quarter. AlphaQuest LLC now owns 6,332 shares of the energy company's stock valued at $52,000 after buying an additional 1,482 shares in the last quarter. Hsbc Holdings PLC bought a new position in Ramaco Resources during the first quarter valued at about $115,000. Quantbot Technologies LP bought a new position in Ramaco Resources during the first quarter valued at about $73,000. Finally, Brooklyn Investment Group bought a new position in Ramaco Resources during the first quarter valued at about $25,000. 74.49% of the stock is owned by institutional investors and hedge funds.

Ramaco Resources Stock Down 1.5%

METC opened at $25.55 on Wednesday. Ramaco Resources, Inc. has a fifty-two week low of $6.30 and a fifty-two week high of $28.40. The business has a 50-day moving average of $21.52 and a 200-day moving average of $13.63. 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 has a market capitalization of $1.41 billion, a PE ratio of -56.78 and a beta of 1.26.

Ramaco Resources (NASDAQ:METC - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The energy company reported ($0.29) earnings per share for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.07). The firm had revenue of $152.96 million for the quarter, compared to analysts' expectations of $131.55 million. Ramaco Resources had a negative return on equity of 5.55% and a negative net margin of 3.17%.The firm's revenue for the quarter was down 1.5% on a year-over-year basis. During the same period last year, the business earned $0.08 earnings per share. Equities research analysts forecast 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 several research reports. Benchmark reaffirmed a "buy" rating and set a $24.00 target price (up previously from $14.00) on shares of Ramaco Resources in a research note on Tuesday, August 5th. Jefferies Financial Group reiterated a "buy" rating and issued a $27.00 price target (up previously from $15.00) on shares of Ramaco Resources in a research report on Wednesday, July 16th. Wall Street Zen lowered Ramaco Resources from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, Zacks Research raised Ramaco Resources from a "strong sell" rating to a "hold" rating in a research note on Friday, August 29th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Ramaco Resources presently has a consensus rating of "Moderate Buy" and an average price target of $21.67.

Insider Activity at Ramaco Resources

In other news, Director Peter A. Leidel sold 1,600,000 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $18.75, for a total transaction of $30,000,000.00. Following 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 36.20% of the company's stock.

Ramaco Resources Company 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.

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