Comerica Bank Sells 41,182 Shares of Ramaco Resources, Inc. $METC

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 decreased its position in shares of Ramaco Resources, Inc. (NASDAQ:METC - Free Report) by 60.3% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 27,067 shares of the energy company's stock after selling 41,182 shares during the quarter. Comerica Bank owned approximately 0.06% of Ramaco Resources worth $223,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. CenterBook Partners LP lifted its stake in shares of Ramaco Resources by 151.0% during the 1st quarter. CenterBook Partners LP now owns 1,678,594 shares of the energy company's stock valued at $13,815,000 after buying an additional 1,009,782 shares in the last quarter. American Century Companies Inc. lifted its stake in Ramaco Resources by 8.9% in the 1st quarter. American Century Companies Inc. now owns 948,328 shares of the energy company's stock worth $7,805,000 after purchasing an additional 77,371 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in Ramaco Resources by 98.9% in the 4th quarter. Point72 Asset Management L.P. now owns 696,531 shares of the energy company's stock worth $7,146,000 after purchasing an additional 346,265 shares in the last quarter. Pacer Advisors Inc. purchased a new stake in Ramaco Resources in the 1st quarter worth $2,748,000. Finally, Acuitas Investments LLC lifted its stake in Ramaco Resources by 103.8% in the 1st quarter. Acuitas Investments LLC now owns 309,957 shares of the energy company's stock worth $2,551,000 after purchasing an additional 157,860 shares in the last quarter. Hedge funds and other institutional investors own 74.49% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on METC shares. Wall Street Zen cut shares of Ramaco Resources from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Zacks Research upgraded shares of Ramaco Resources from a "strong sell" rating to a "hold" rating in a research note on Friday, August 29th. 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 note on Wednesday, July 16th. Finally, Benchmark reiterated a "buy" rating and issued a $24.00 price target (up previously from $14.00) on shares of Ramaco Resources in a research note on Tuesday, August 5th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $21.67.

Insider Buying and Selling

In related news, Director Peter A. Leidel sold 1,600,000 shares of the company's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $18.75, for a total transaction of $30,000,000.00. Following the transaction, the director directly owned 2,502,930 shares in the company, valued at approximately $46,929,937.50. This represents a 39.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 36.20% of the company's stock.

Ramaco Resources Price Performance

Shares of Ramaco Resources stock traded up $0.06 during trading hours on Friday, reaching $24.25. The company's stock had a trading volume of 1,659,386 shares, compared to its average volume of 2,509,239. The firm has a 50 day moving average price of $22.29 and a 200-day moving average price of $13.98. Ramaco Resources, Inc. has a one year low of $6.30 and a one year high of $28.40. 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 stock has a market cap of $1.34 billion, a P/E ratio of -53.89 and a beta of 1.26.

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 for the quarter, missing analysts' consensus estimates 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 business had revenue of $152.96 million during the quarter, compared to the consensus estimate of $131.55 million. During the same quarter last year, the firm earned $0.08 earnings per share. The business's quarterly revenue was down 1.5% on a year-over-year basis. On average, analysts predict that Ramaco Resources, Inc. will post 0.05 EPS for the current year.

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.