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

Yorktown Energy Partners XI L.P. reduced its position in shares of Ramaco Resources, Inc. (NASDAQ:METC) by 21.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,979,968 shares of the energy company’s stock after selling 806,829 shares during the quarter. Ramaco Resources comprises 32.6% of Yorktown Energy Partners XI L.P.’s holdings, making the stock its 2nd biggest position. Yorktown Energy Partners XI L.P.’s holdings in Ramaco Resources were worth $46,070,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in METC. Quarry LP bought a new position in shares of Ramaco Resources in the 4th quarter valued at about $27,000. Caitong International Asset Management Co. Ltd grew its position in shares of Ramaco Resources by 14,250.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,722 shares of the energy company’s stock worth $31,000 after buying an additional 1,710 shares during the period. Allworth Financial LP raised its stake in shares of Ramaco Resources by 3,603.6% during the third quarter. Allworth Financial LP now owns 1,037 shares of the energy company’s stock worth $34,000 after buying an additional 1,009 shares during the last quarter. Spirit of America Management Corp NY bought a new stake in shares of Ramaco Resources during the fourth quarter worth approximately $38,000. Finally, Advisory Services Network LLC bought a new stake in shares of Ramaco Resources during the third quarter worth approximately $38,000. 74.49% of the stock is currently owned by institutional investors and hedge funds.

Ramaco Resources Stock Performance

Shares of METC stock opened at $10.35 on Monday. The stock has a market cap of $674.61 million, a PE ratio of -9.41 and a beta of 1.35. The stock has a 50-day moving average of $13.68 and a 200-day moving average of $15.62. The company has a debt-to-equity ratio of 1.06, a current ratio of 4.88 and a quick ratio of 3.93. Ramaco Resources, Inc. has a one year low of $10.31 and a one year high of $57.80.

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

Insider Buying and Selling

In other Ramaco Resources news, major shareholder Discovery Capital Management, sold 200,000 shares of the stock in a transaction on Friday, May 1st. The shares were sold at an average price of $14.79, for a total value of $2,958,000.00. Following the sale, the insider directly owned 5,311,360 shares in the company, valued at approximately $78,555,014.40. This trade represents a 3.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 46.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on METC shares. Robert W. Baird reduced their price objective on shares of Ramaco Resources from $30.00 to $25.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ramaco Resources in a report on Thursday, June 18th. B. Riley Financial dropped their target price on shares of Ramaco Resources from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, May 13th. Morgan Stanley cut their price target on Ramaco Resources from $17.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 8th. Finally, The Goldman Sachs Group reduced their price target on Ramaco Resources from $16.00 to $13.00 and set a “neutral” rating on the stock in a research report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Ramaco Resources has a consensus rating of “Hold” and a consensus price target of $26.43.

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.