Key Points
- Discovery Capital Management sold 200,000 shares of Ramaco Resources (NASDAQ:METC) on May 1 at an average price of $14.79 for $2.958 million, trimming its stake by 3.63% to 5,311,360 shares, according to an SEC filing.
- Company outlook and results: Ramaco reported Q4 EPS of -$0.22 (vs. -$0.24 estimate) on $108.7M revenue (well below consensus), posts negative margins and ROE, and carries a MarketBeat consensus of "Moderate Buy" with a $32 target despite a wide 52‑week range of $8.21–$57.80.
Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report) major shareholder Discovery Capital Management, sold 200,000 shares of Ramaco Resources stock in a transaction that occurred on 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 completion of the transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.
Ramaco Resources Stock Performance
Ramaco Resources stock opened at $15.03 on Wednesday. The firm's 50 day simple moving average is $14.73 and its 200-day simple moving average is $19.06. The company has a market cap of $1.01 billion, a P/E ratio of -15.18 and a beta of 1.31. The company has a debt-to-equity ratio of 0.95, a current ratio of 5.46 and a quick ratio of 4.66. Ramaco Resources, Inc. has a fifty-two week low of $8.21 and a fifty-two week high of $57.80.
Ramaco Resources (NASDAQ:METC - Get Free Report) last released its earnings results on Wednesday, February 25th. The energy company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.02. The business had revenue of $108.72 million for the quarter, compared to the consensus estimate of $143.48 million. Ramaco Resources had a negative net margin of 9.59% and a negative return on equity of 12.01%. The firm's quarterly revenue was down 25.1% compared to the same quarter last year. During the same period last year, the firm posted $0.02 earnings per share. As a group, equities research analysts predict that Ramaco Resources, Inc. will post -0.04 EPS for the current year.
Analyst Upgrades and Downgrades
METC has been the topic of several analyst reports. Jefferies Financial Group raised shares of Ramaco Resources from a "hold" rating to a "buy" rating and dropped their target price for the stock from $33.00 to $30.00 in a research report on Tuesday, January 20th. Morgan Stanley decreased their price target 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. Robert W. Baird decreased their price target 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. The Goldman Sachs Group upgraded shares of Ramaco Resources from a "sell" rating to a "neutral" rating and raised their price target for the stock from $14.00 to $15.00 in a report on Tuesday, April 21st. Finally, Zacks Research upgraded shares of Ramaco Resources from a "strong sell" rating to a "hold" rating in a report on Friday, April 10th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $32.00.
Read Our Latest Stock Report on METC
Institutional Trading of Ramaco Resources
Several institutional investors have recently made changes to their positions in the stock. State Street Corp boosted its holdings in shares of Ramaco Resources by 10.2% during the fourth quarter. State Street Corp now owns 2,489,797 shares of the energy company's stock worth $44,816,000 after purchasing an additional 230,197 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Ramaco Resources by 40.0% during the third quarter. Vanguard Group Inc. now owns 2,335,257 shares of the energy company's stock worth $77,507,000 after purchasing an additional 667,199 shares during the period. Renaissance Technologies LLC lifted its stake in Ramaco Resources by 0.7% in the fourth quarter. Renaissance Technologies LLC now owns 1,526,164 shares of the energy company's stock valued at $27,471,000 after acquiring an additional 9,860 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Ramaco Resources by 74.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,160,898 shares of the energy company's stock valued at $20,896,000 after acquiring an additional 496,150 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Ramaco Resources by 9.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,036,433 shares of the energy company's stock valued at $18,652,000 after acquiring an additional 92,649 shares during the last quarter. 74.49% of the stock is currently owned by institutional investors and hedge funds.
Ramaco Resources Company Profile
(
Get Free Report)
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
