State Street Corp Increases Position in Ramaco Resources, Inc. $METC

Key Points

• State Street increased its Ramaco Resources stake by 6.7% in the second quarter, adding 192,663 shares to own approximately 4.83% of the company. Institutional investors collectively hold 74.49% of METC.
• Ramaco reported a quarterly loss of $0.26 per share, in line with estimates, but revenue of $122.32 million fell short of the $133.11 million consensus forecast. The company had a negative net margin of 11.98%.
• Analyst sentiment is mixed, with the stock carrying a consensus “Hold” rating and an average price target of $22.43; Goldman Sachs and Morgan Stanley both lowered their targets to $11.

State Street Corp boosted its position in Ramaco Resources, Inc. (NASDAQ:METC - Free Report) by 6.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,059,847 shares of the energy company's stock after purchasing an additional 192,663 shares during the period. State Street Corp owned approximately 4.83% of Ramaco Resources worth $40,482,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its stake in shares of Ramaco Resources by 38.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,435,059 shares of the energy company's stock worth $22,179,000 after buying an additional 398,626 shares in the last quarter. Gratia Capital LLC acquired a new position in Ramaco Resources during the second quarter worth about $1,826,000. Bank of New York Mellon Corp bought a new stake in Ramaco Resources in the second quarter worth about $1,486,000. Texas Yale Capital Corp. raised its position in Ramaco Resources by 331.9% in the fourth quarter. Texas Yale Capital Corp. now owns 142,488 shares of the energy company's stock worth $2,565,000 after acquiring an additional 109,500 shares in the last quarter. Finally, Quantbot Technologies LP raised its position in Ramaco Resources by 54.1% in the second quarter. Quantbot Technologies LP now owns 127,404 shares of the energy company's stock worth $1,686,000 after acquiring an additional 44,710 shares in the last quarter. 74.49% of the stock is owned by institutional investors.

Insider Transactions at Ramaco Resources

In other news, major shareholder Discovery Capital Management, sold 500,000 shares of the stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $9.57, for a total value of $4,785,000.00. Following the completion of the sale, the insider owned 4,811,360 shares in the company, valued at $46,044,715.20. This represents a 9.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 46.07% of the stock is currently owned by company insiders.

Ramaco Resources Stock Performance

Ramaco Resources stock opened at $9.14 on Friday. Ramaco Resources, Inc. has a fifty-two week low of $8.56 and a fifty-two week high of $57.80. The firm's 50 day simple moving average is $11.18 and its 200-day simple moving average is $13.19. The company has a debt-to-equity ratio of 1.23, a current ratio of 4.23 and a quick ratio of 3.31. The company has a market cap of $579.38 million, a P/E ratio of -8.54 and a beta of 1.39.

Ramaco Resources (NASDAQ:METC - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The energy company reported ($0.26) EPS for the quarter, meeting the consensus estimate of ($0.26). Ramaco Resources had a negative net margin of 11.98% and a negative return on equity of 13.54%. The business had revenue of $122.32 million during the quarter, compared to the consensus estimate of $133.11 million. As a group, equities research analysts predict that Ramaco Resources, Inc. will post -1.02 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on METC shares. The Goldman Sachs Group lowered their price objective on shares of Ramaco Resources from $13.00 to $11.00 and set a "neutral" rating on the stock in a research note on Thursday, August 6th. Weiss Ratings cut shares of Ramaco Resources from a "sell (d)" rating to a "sell (d-)" rating in a report on Thursday, August 6th. Morgan Stanley reduced their target price on shares of Ramaco Resources from $13.00 to $11.00 and set an "equal weight" rating for the company in a report on Tuesday, August 18th. Zacks Research cut Ramaco Resources from a "hold" rating to a "strong sell" rating in a report on Friday, July 17th. Finally, B. Riley Financial reiterated a "buy" rating on shares of Ramaco Resources in a research report on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $22.43.

About Ramaco Resources

Ramaco Resources, Inc is a metallurgical coal producer headquartered in Lexington, Kentucky. The company develops, operates and sells metallurgical coal used primarily in the production of steel. Its products include various grades of high-quality metallurgical coal, including high-volatility and low-volatility products, as well as coal suitable for pulverized coal injection applications.

Ramaco operates mining complexes in Central Appalachia, including properties in West Virginia and Virginia.

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