Benjamin Edwards Inc. Buys New Shares in Ramaco Resources, Inc. $METC

Benjamin Edwards Inc. purchased a new stake in shares of Ramaco Resources, Inc. (NASDAQ:METC) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 27,096 shares of the energy company’s stock, valued at approximately $899,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of METC. Ameritas Investment Partners Inc. increased its position in shares of Ramaco Resources by 63.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,632 shares of the energy company’s stock valued at $48,000 after purchasing an additional 1,416 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in Ramaco Resources by 384.0% in the second quarter. Farther Finance Advisors LLC now owns 3,920 shares of the energy company’s stock worth $52,000 after buying an additional 3,110 shares in the last quarter. SG Americas Securities LLC bought a new position in Ramaco Resources during the third quarter valued at approximately $134,000. Global Retirement Partners LLC grew its position in Ramaco Resources by 112.5% during the third quarter. Global Retirement Partners LLC now owns 4,250 shares of the energy company’s stock valued at $141,000 after acquiring an additional 2,250 shares during the last quarter. Finally, Pingora Partners LLC raised its stake in shares of Ramaco Resources by 208.1% during the second quarter. Pingora Partners LLC now owns 11,400 shares of the energy company’s stock worth $150,000 after acquiring an additional 7,700 shares in the last quarter. 74.49% of the stock is currently owned by hedge funds and other institutional investors.

Ramaco Resources Price Performance

METC stock opened at $20.34 on Wednesday. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of -30.36 and a beta of 1.44. The firm’s 50-day moving average price is $18.34 and its two-hundred day moving average price is $24.18. The company has a current ratio of 2.97, a quick ratio of 2.24 and a debt-to-equity ratio of 0.24. Ramaco Resources, Inc. has a 12-month low of $6.30 and a 12-month high of $57.80.

Ramaco Resources (NASDAQ:METC) last posted its earnings results on Monday, October 27th. The energy company reported ($0.25) earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $137.63 million. During the same period in the prior year, the business posted ($0.03) earnings per share. Ramaco Resources’s revenue for the quarter was down 27.7% on a year-over-year basis. As a group, equities analysts predict that Ramaco Resources, Inc. will post 0.05 earnings per share for the current year.

Ramaco Resources declared that its board has initiated a stock buyback plan on Tuesday, December 23rd that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the energy company to repurchase up to 9.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group cut shares of Ramaco Resources from a “buy” rating to a “hold” rating and cut their price objective for the company from $45.00 to $33.00 in a research note on Tuesday, October 28th. Benchmark upped their price target on shares of Ramaco Resources from $24.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Ramaco Resources in a research note on Monday, December 29th. Northland Capmk raised Ramaco Resources to a “strong-buy” rating in a research note on Wednesday, October 8th. Finally, Morgan Stanley began coverage on Ramaco Resources in a report on Friday, December 5th. They set an “equal weight” rating and a $17.50 target price for the company. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $34.50.

Ramaco Resources Company 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.