Wedge Capital Management L L P NC Sells 37,556 Shares of Ramaco Resources, Inc. $METC

Wedge Capital Management L L P NC trimmed its holdings in Ramaco Resources, Inc. (NASDAQ:METC) by 29.2% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 91,144 shares of the energy company’s stock after selling 37,556 shares during the period. Wedge Capital Management L L P NC’s holdings in Ramaco Resources were worth $3,025,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Cox Capital Mgt LLC bought a new stake in shares of Ramaco Resources in the third quarter worth approximately $1,547,000. State of Wyoming lifted its holdings in shares of Ramaco Resources by 219.9% during the 2nd quarter. State of Wyoming now owns 19,596 shares of the energy company’s stock valued at $257,000 after buying an additional 13,470 shares during the period. Sender Co & Partners Inc. bought a new stake in shares of Ramaco Resources in the second quarter worth $285,000. Vident Advisory LLC bought a new position in Ramaco Resources in the second quarter valued at about $610,000. Finally, Quantinno Capital Management LP boosted its position in Ramaco Resources by 85.1% in the second quarter. Quantinno Capital Management LP now owns 22,963 shares of the energy company’s stock worth $302,000 after purchasing an additional 10,558 shares during the last quarter. Institutional investors own 74.49% of the company’s stock.

Ramaco Resources Stock Performance

Shares of NASDAQ METC opened at $15.56 on Tuesday. The stock has a market cap of $1.03 billion, a PE ratio of -23.22 and a beta of 1.42. Ramaco Resources, Inc. has a 1 year low of $6.30 and a 1 year high of $57.80. The firm has a fifty day moving average price of $24.32 and a 200-day moving average price of $23.27. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.97 and a quick ratio of 2.24.

Ramaco Resources (NASDAQ:METC) last issued its earnings results on Monday, October 27th. The energy company reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.05. Ramaco Resources had a negative net margin of 5.67% and a negative return on equity of 8.26%. The company had revenue of $104.87 million during the quarter, compared to the consensus estimate of $137.63 million. During the same quarter in the prior year, the firm posted ($0.03) EPS. Ramaco Resources’s quarterly revenue was down 27.7% compared to the same quarter last year. Equities analysts anticipate that Ramaco Resources, Inc. will post 0.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

METC has been the topic of a number of research reports. Benchmark raised their price objective on shares of Ramaco Resources from $24.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Robert W. Baird set a $43.00 price target on shares of Ramaco Resources in a research report on Wednesday, October 29th. Morgan Stanley began coverage on shares of Ramaco Resources in a research report on Friday, December 5th. They set an “equal weight” rating and a $17.50 price objective for the company. Weiss Ratings restated a “sell (d+)” rating on shares of Ramaco Resources in a research note on Monday, December 15th. Finally, B. Riley lifted their target price on Ramaco Resources from $14.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Ramaco Resources currently has an average rating of “Hold” and a consensus target price of $34.50.

Ramaco Resources 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.