Russell Investments Group Ltd. Boosts Stock Holdings in Ramaco Resources, Inc. $METC

Key Points

• Russell Investments Group Ltd. increased its stake in Ramaco Resources by 29.6%, acquiring 32,530 additional shares, bringing its total holdings to 142,605 shares valued at approximately $1.17 million.
• Director Peter A. Leidel sold 1.6 million shares of Ramaco Resources stock for $30 million, resulting in a 39% decrease in his ownership.
• Analysts have a positive outlook, with Jefferies Financial Group upgrading its price target for Ramaco Resources to $27, reflecting a growing confidence in the company's stock potential.

Russell Investments Group Ltd. grew its position in shares of Ramaco Resources, Inc. (NASDAQ:METC - Free Report) by 29.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 142,605 shares of the energy company's stock after purchasing an additional 32,530 shares during the quarter. Russell Investments Group Ltd. owned about 0.32% of Ramaco Resources worth $1,174,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Ramaco Resources by 3.5% during the 4th 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 purchasing an additional 1,425 shares during the last quarter. Legal & General Group Plc raised its holdings in Ramaco Resources by 15.3% during the 4th quarter. Legal & General Group Plc now owns 13,752 shares of the energy company's stock worth $141,000 after purchasing an additional 1,822 shares during the last quarter. MetLife Investment Management LLC raised its holdings in Ramaco Resources by 13.9% during the 4th quarter. MetLife Investment Management LLC now owns 16,189 shares of the energy company's stock worth $166,000 after purchasing an additional 1,970 shares during the last quarter. Cetera Investment Advisers raised its holdings in Ramaco Resources by 27.3% during the 4th quarter. Cetera Investment Advisers now owns 12,872 shares of the energy company's stock worth $132,000 after purchasing an additional 2,760 shares during the last quarter. Finally, Barclays PLC raised its holdings in Ramaco Resources by 8.6% during the 4th quarter. Barclays PLC now owns 48,217 shares of the energy company's stock worth $495,000 after purchasing an additional 3,808 shares during the last quarter. Institutional investors own 74.49% of the company's stock.

Insider Transactions at Ramaco Resources

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. This trade represents a 39.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 36.20% of the company's stock.

Ramaco Resources Stock Up 0.4%

NASDAQ METC traded up $0.10 during mid-day trading on Wednesday, hitting $24.17. The company's stock had a trading volume of 1,976,438 shares, compared to its average volume of 3,640,190. The company's 50 day simple moving average is $20.36 and its 200 day simple moving average is $13.15. Ramaco Resources, Inc. has a twelve month low of $6.30 and a twelve month high of $27.31. The company has a current ratio of 1.36, a quick ratio of 0.84 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of -53.71 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 (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.07). Ramaco Resources had a negative net margin of 3.17% and a negative return on equity of 5.55%. The business had revenue of $152.96 million during the quarter, compared to analyst estimates of $131.55 million. During the same period in the previous year, the business posted $0.08 EPS. The business's revenue for the quarter was down 1.5% compared to the same quarter last year. Analysts anticipate that Ramaco Resources, Inc. will post 0.05 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Zacks Research upgraded shares of Ramaco Resources from a "strong sell" rating to a "hold" rating in a report on Friday, August 29th. Wall Street Zen lowered 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 previously from $15.00) on shares of Ramaco Resources in a research report on Wednesday, July 16th. Finally, Benchmark reaffirmed a "buy" rating and set a $24.00 price objective (up previously from $14.00) on shares of Ramaco Resources in a research report on Tuesday, August 5th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, Ramaco Resources has an average rating of "Moderate Buy" and a consensus price target 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.