Mizuho Markets Americas LLC Buys New Stake in Ramaco Resources, Inc. $METC

Mizuho Markets Americas LLC bought a new stake in shares of Ramaco Resources, Inc. (NASDAQ:METC) during the 4th quarter, Holdings Channel reports. The firm bought 128,300 shares of the energy company’s stock, valued at approximately $2,309,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Archer Investment Corp acquired a new position in shares of Ramaco Resources during the third quarter valued at $33,000. 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 valued at $34,000 after purchasing an additional 1,009 shares in the last quarter. MCF Advisors LLC acquired a new stake in Ramaco Resources in the third quarter worth about $35,000. Spirit of America Management Corp NY bought a new position in Ramaco Resources in the 4th quarter valued at about $38,000. Finally, Advisory Services Network LLC bought a new position in Ramaco Resources in the 3rd quarter valued at about $38,000. Institutional investors and hedge funds own 74.49% of the company’s stock.

Insider Buying and Selling

In other Ramaco Resources news, major shareholder Discovery Capital Management, sold 200,000 shares of the company’s stock in a transaction dated 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 sale, the insider directly owned 5,311,360 shares of the company’s stock, valued at approximately $78,555,014.40. This represents a 3.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 36.20% of the company’s stock.

Ramaco Resources Stock Performance

Shares of NASDAQ METC opened at $13.92 on Friday. The stock’s fifty day simple moving average is $14.47 and its 200 day simple moving average is $17.14. The stock has a market capitalization of $934.31 million, a price-to-earnings ratio of -12.65 and a beta of 1.31. The company has a quick ratio of 3.93, a current ratio of 4.88 and a debt-to-equity ratio of 1.06. Ramaco Resources, Inc. has a 52-week low of $8.51 and a 52-week high of $57.80.

Ramaco Resources (NASDAQ:METC) last announced its earnings results on Monday, May 11th. The energy company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.08). Ramaco Resources had a negative net margin of 11.52% and a negative return on equity of 13.44%. The company had revenue of $101.41 million for the quarter, compared to analysts’ expectations of $129.72 million. During the same period in the prior year, the company earned ($0.20) earnings per share. The company’s revenue for the quarter was down 9.7% on a year-over-year basis. As a group, sell-side analysts forecast that Ramaco Resources, Inc. will post -0.27 earnings per share for the current fiscal year.

Analyst Ratings Changes

METC has been the topic of a number of recent analyst reports. Morgan Stanley dropped their price target on shares of Ramaco Resources from $17.50 to $17.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 9th. The Goldman Sachs Group upgraded shares of Ramaco Resources from a “sell” rating to a “neutral” rating and increased their price objective for the company from $14.00 to $15.00 in a report on Tuesday, April 21st. Robert W. Baird lowered 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. Zacks Research raised Ramaco Resources from a “strong sell” rating to a “hold” rating in a report on Friday, April 10th. Finally, B. Riley Financial cut their target price on Ramaco Resources from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $27.29.

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.