Vanguard Group Inc. Increases Stock Holdings in Ramaco Resources, Inc. $METC

Key Points

• Vanguard Group Inc. increased its stake in Ramaco Resources by 40% to 2,335,257 shares (about 4.23% of the company), valued at approximately $77.51 million at the end of the reporting period.
• Analyst coverage is mixed—one Strong Buy, four Buy, one Hold and three Sell—resulting in a consensus rating of Hold and a consensus price target of $31.93.
• Ramaco authorized a $100.0 million share buyback (up to 9.7% of outstanding shares); it also beat recent EPS estimates but reported revenue down 25.1% year-over-year and remains unprofitable with negative ROE and net margin.

Vanguard Group Inc. grew its stake in shares of Ramaco Resources, Inc. (NASDAQ:METC - Free Report) by 40.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,335,257 shares of the energy company's stock after acquiring an additional 667,199 shares during the period. Vanguard Group Inc. owned about 4.23% of Ramaco Resources worth $77,507,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. American Century Companies Inc. raised its position in shares of Ramaco Resources by 8.4% in the second quarter. American Century Companies Inc. now owns 1,028,186 shares of the energy company's stock valued at $13,510,000 after purchasing an additional 79,858 shares during the period. Geode Capital Management LLC raised its holdings in Ramaco Resources by 25.0% during the 2nd quarter. Geode Capital Management LLC now owns 687,343 shares of the energy company's stock valued at $9,033,000 after acquiring an additional 137,635 shares during the period. Benjamin Edwards Inc. purchased a new stake in shares of Ramaco Resources during the third quarter worth $899,000. Bosun Asset Management LLC bought a new position in shares of Ramaco Resources in the second quarter worth $819,000. Finally, Shikiar Asset Management Inc. purchased a new position in shares of Ramaco Resources in the third quarter valued at $1,162,000. Hedge funds and other institutional investors own 74.49% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on METC. The Goldman Sachs Group reduced their price target on shares of Ramaco Resources from $16.00 to $14.00 and set a "sell" rating for the company in a research report on Monday. Jefferies Financial Group raised Ramaco Resources from a "hold" rating to a "buy" rating and cut their price objective for the stock from $33.00 to $30.00 in a report on Tuesday, January 20th. Robert W. Baird cut their target price on Ramaco Resources from $40.00 to $30.00 and set an "outperform" rating for the company in a research note on Friday, February 27th. Morgan Stanley assumed coverage on shares of Ramaco Resources in a research note on Friday, December 5th. They set an "equal weight" rating and a $17.50 price target on the stock. Finally, Weiss Ratings restated a "sell (d+)" rating on shares of Ramaco Resources in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $31.93.

Ramaco Resources Price Performance

METC opened at $14.80 on Friday. The company has a current ratio of 5.46, a quick ratio of 4.66 and a debt-to-equity ratio of 0.95. The company has a market cap of $828.21 million, a price-to-earnings ratio of -14.95 and a beta of 1.41. The stock has a fifty day simple moving average of $18.97 and a two-hundred day simple moving average of $23.94. Ramaco Resources, Inc. has a 12-month low of $6.30 and a 12-month high of $57.80.

Ramaco Resources (NASDAQ:METC - Get Free Report) last released its quarterly earnings results on Wednesday, February 25th. The energy company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.02. Ramaco Resources had a negative return on equity of 12.01% and a negative net margin of 9.59%.The firm had revenue of $108.72 million for the quarter, compared to analysts' expectations of $143.48 million. During the same period in the prior year, the firm earned $0.02 EPS. The company's revenue was down 25.1% compared to the same quarter last year. Research analysts predict that Ramaco Resources, Inc. will post 0.05 earnings per share for the current fiscal year.

Ramaco Resources declared that its Board of Directors has approved a share buyback program on Tuesday, December 23rd that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the energy company to reacquire up to 9.7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board believes its shares are undervalued.

Ramaco Resources Company Profile

Ramaco Resources, Inc NASDAQ: METC is a U.S.-based producer of premium metallurgical coal and industrial minerals, focused on supplying the steel and allied industries. The company’s operations are centered in the Appalachian region of West Virginia, where it develops, mines and processes high-carbon coal products designed to meet the quality requirements of blast‐furnace and electric‐arc furnace steelmakers.

The firm’s flagship asset is the Elk Creek underground mine in Wyoming County, West Virginia, which began commercial production in 2019 and delivers a range of high‐grade metallurgical and anthracite coals.

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