Ramaco Resources (NASDAQ:METC) Major Shareholder Discovery Capital Management, Sells 200,000 Shares

Key Points

• Discovery Capital Management sold 200,000 shares of Ramaco on May 1 at an average price of $14.79 for about $2.96 million, trimming its stake by 3.63% to 5,311,360 shares; the sale was disclosed in an SEC filing.
• Ramaco stock traded up ~3.7% to $15.03 with ~907,563 shares changing hands (below its average volume); the company has a market cap of about $1.01 billion and its 50‑/200‑day moving averages are $14.73 and $19.06, respectively.
• Ramaco reported quarterly EPS of -$0.22 (beating estimates) but missed on revenue and posted negative margins, while analysts maintain a consensus "Moderate Buy" rating with an average price target of about $32 despite several target cuts.

Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report) major shareholder Discovery Capital Management, sold 200,000 shares of the company's stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $14.79, for a total transaction of $2,958,000.00. Following the completion of the transaction, the insider owned 5,311,360 shares in the company, valued at approximately $78,555,014.40. This represents a 3.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Large shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.

Ramaco Resources Stock Up 3.7%

Shares of NASDAQ METC traded up $0.54 during trading hours on Tuesday, hitting $15.03. The stock had a trading volume of 907,563 shares, compared to its average volume of 2,313,562. The company has a debt-to-equity ratio of 0.95, a quick ratio of 4.66 and a current ratio of 5.46. The company has a market capitalization of $1.01 billion, a P/E ratio of -15.18 and a beta of 1.31. Ramaco Resources, Inc. has a 52 week low of $8.21 and a 52 week high of $57.80. The firm's 50-day moving average price is $14.73 and its two-hundred day moving average price is $19.06.

Ramaco Resources (NASDAQ:METC - Get Free Report) last announced its quarterly earnings results on Wednesday, February 25th. The energy company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.02. The company had revenue of $108.72 million for the quarter, compared to analyst estimates of $143.48 million. Ramaco Resources had a negative net margin of 9.59% and a negative return on equity of 12.01%. Ramaco Resources's quarterly revenue was down 25.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.02 EPS. Analysts anticipate that Ramaco Resources, Inc. will post -0.04 EPS for the current fiscal year.

Institutional Trading of Ramaco Resources

A number of hedge funds have recently bought and sold shares of the stock. State Street Corp boosted its holdings in Ramaco Resources by 10.2% in the 4th quarter. State Street Corp now owns 2,489,797 shares of the energy company's stock valued at $44,816,000 after purchasing an additional 230,197 shares during the period. Vanguard Group Inc. boosted its holdings in Ramaco Resources by 40.0% in the 3rd quarter. Vanguard Group Inc. now owns 2,335,257 shares of the energy company's stock valued at $77,507,000 after purchasing an additional 667,199 shares during the period. Renaissance Technologies LLC boosted its holdings in Ramaco Resources by 0.7% in the 4th quarter. Renaissance Technologies LLC now owns 1,526,164 shares of the energy company's stock valued at $27,471,000 after purchasing an additional 9,860 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Ramaco Resources by 74.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,160,898 shares of the energy company's stock valued at $20,896,000 after purchasing an additional 496,150 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Ramaco Resources by 9.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,036,433 shares of the energy company's stock valued at $18,652,000 after purchasing an additional 92,649 shares during the period. 74.49% of the stock is owned by institutional investors.

Analysts Set New Price Targets

METC has been the subject of several recent analyst reports. Robert W. Baird decreased their price objective on shares of Ramaco Resources from $40.00 to $30.00 and set an "outperform" rating for the company in a report on Friday, February 27th. Zacks Research raised shares of Ramaco Resources from a "strong sell" rating to a "hold" rating in a report on Friday, April 10th. Jefferies Financial Group raised shares of Ramaco Resources from a "hold" rating to a "buy" rating and decreased their price objective for the stock from $33.00 to $30.00 in a report on Tuesday, January 20th. The Goldman Sachs Group raised shares of Ramaco Resources from a "sell" rating to a "neutral" rating and upped their price objective for the stock from $14.00 to $15.00 in a report on Tuesday, April 21st. Finally, Morgan Stanley decreased their price objective on shares of Ramaco Resources from $17.50 to $17.00 and set an "equal weight" rating for the company in a report on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Ramaco Resources currently has a consensus rating of "Moderate Buy" and an average target price of $32.00.

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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