Ramaco Resources, Inc. $METC Shares Sold by Yorktown Energy Partners IX L.P.

Yorktown Energy Partners IX L.P. reduced its holdings in shares of Ramaco Resources, Inc. (NASDAQ:METC) by 21.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,437,247 shares of the energy company’s stock after selling 659,887 shares during the period. Ramaco Resources comprises 65.5% of Yorktown Energy Partners IX L.P.’s investment portfolio, making the stock its largest holding. Yorktown Energy Partners IX L.P.’s holdings in Ramaco Resources were worth $37,680,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in METC. Allworth Financial LP boosted its position in Ramaco Resources by 3,603.6% in the 3rd quarter. Allworth Financial LP now owns 1,037 shares of the energy company’s stock valued at $34,000 after buying an additional 1,009 shares during the period. Advisory Services Network LLC purchased a new stake in shares of Ramaco Resources during the third quarter worth $38,000. Quarry LP purchased a new stake in shares of Ramaco Resources during the fourth quarter worth $27,000. Caitong International Asset Management Co. Ltd raised its stake in shares of Ramaco Resources by 14,250.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,722 shares of the energy company’s stock valued at $31,000 after acquiring an additional 1,710 shares in the last quarter. Finally, Spirit of America Management Corp NY acquired a new stake in shares of Ramaco Resources in the fourth quarter valued at $38,000. 74.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on METC. Morgan Stanley decreased their target price on Ramaco Resources from $17.00 to $13.00 and set an “equal weight” rating for the company in a report on Wednesday, July 8th. Robert W. Baird cut their price target on Ramaco Resources from $30.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. B. Riley Financial reduced their price target on Ramaco Resources from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, May 13th. Weiss Ratings reiterated a “sell (d)” rating on shares of Ramaco Resources in a research note on Thursday, June 18th. Finally, Zacks Research downgraded Ramaco Resources from a “hold” rating to a “strong sell” rating in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $26.43.

Insider Buying and Selling at Ramaco Resources

In other news, major shareholder Discovery Capital Management, sold 200,000 shares of the firm’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $14.79, for a total transaction of $2,958,000.00. Following the sale, the insider owned 5,311,360 shares of the company’s stock, valued at approximately $78,555,014.40. This trade represents a 3.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 46.07% of the company’s stock.

Ramaco Resources Stock Performance

NASDAQ:METC opened at $10.35 on Monday. Ramaco Resources, Inc. has a 12 month low of $10.31 and a 12 month high of $57.80. The company has a debt-to-equity ratio of 1.06, a current ratio of 4.88 and a quick ratio of 3.93. The firm has a market capitalization of $674.61 million, a PE ratio of -9.41 and a beta of 1.35. The business’s fifty day moving average price is $13.68 and its 200 day moving average price is $15.62.

Ramaco Resources (NASDAQ:METC) last announced its quarterly earnings results on Monday, May 11th. The energy company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.08). The business had revenue of $101.41 million for the quarter, compared to analysts’ expectations of $129.72 million. Ramaco Resources had a negative return on equity of 13.44% and a negative net margin of 11.52%.The firm’s quarterly revenue was down 9.7% on a year-over-year basis. During the same period last year, the firm earned ($0.20) earnings per share. On average, sell-side analysts anticipate that Ramaco Resources, Inc. will post -0.58 earnings per share for the current fiscal year.

About Ramaco Resources

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.