Wellington Management Group LLP Sells 53,603 Shares of Ramaco Resources, Inc. $METC

Key Points

• Wellington Management Group LLP reduced its stake in Ramaco Resources, Inc. by 5.0%, now holding approximately 1,013,539 shares valued at $8.34 million.
• Ramaco Resources reported a quarterly loss of ($0.29) earnings per share, missing estimates and showing a 1.5% decline in revenue year-over-year.
• Insider Director Peter A. Leidel sold 1,600,000 shares of Ramaco Resources for about $30 million, representing a 39% decrease in his position.

Wellington Management Group LLP lowered its position in Ramaco Resources, Inc. (NASDAQ:METC - Free Report) by 5.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,013,539 shares of the energy company's stock after selling 53,603 shares during the period. Wellington Management Group LLP owned 2.28% of Ramaco Resources worth $8,341,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Brooklyn Investment Group bought a new position in shares of Ramaco Resources in the first quarter valued at approximately $25,000. BNP Paribas Financial Markets bought a new position in shares of Ramaco Resources in the fourth quarter valued at approximately $80,000. Atria Wealth Solutions Inc. bought a new position in shares of Ramaco Resources in the first quarter valued at approximately $82,000. Parkwood LLC bought a new position in shares of Ramaco Resources in the fourth quarter valued at approximately $109,000. Finally, Cetera Investment Advisers raised its stake in shares of Ramaco Resources by 27.3% in the fourth quarter. Cetera Investment Advisers now owns 12,872 shares of the energy company's stock valued at $132,000 after acquiring an additional 2,760 shares during the last quarter. Institutional investors own 74.49% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on METC. Benchmark reissued a "buy" rating and issued a $24.00 price target (up previously from $14.00) on shares of Ramaco Resources in a report on Tuesday, August 5th. Jefferies Financial Group reissued a "buy" rating and issued a $27.00 price target (up previously from $15.00) on shares of Ramaco Resources in a report on Wednesday, July 16th. Finally, Wall Street Zen lowered shares of Ramaco Resources from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $21.67.

Insider Buying and Selling at Ramaco Resources

In other 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 transaction of $30,000,000.00. Following the transaction, the director directly owned 2,502,930 shares of the company's stock, valued at $46,929,937.50. This trade represents a 39.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 36.20% of the stock is currently owned by corporate insiders.

Ramaco Resources Stock Performance

METC traded up $0.49 during trading on Friday, reaching $25.93. 3,048,657 shares of the company's stock were exchanged, compared to its average volume of 3,757,542. The company's fifty day moving average price is $19.56 and its 200-day moving average price is $12.89. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.36 and a quick ratio of 0.84. Ramaco Resources, Inc. has a fifty-two week low of $6.30 and a fifty-two week high of $27.31.

Ramaco Resources (NASDAQ:METC - Get Free Report) last released its earnings results on Thursday, July 31st. The energy company reported ($0.29) EPS 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 for the quarter, compared to analyst estimates of $131.55 million. During the same period in the prior year, the firm posted $0.08 EPS. Ramaco Resources's revenue was down 1.5% on a year-over-year basis. On average, research analysts forecast that Ramaco Resources, Inc. will post 0.05 earnings per share for the current year.

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.