Tudor Investment Corp ET AL Takes $2.02 Million Position in Ramaco Resources, Inc. $METC

Tudor Investment Corp ET AL bought a new position in Ramaco Resources, Inc. (NASDAQ:METC) in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 60,825 shares of the energy company’s stock, valued at approximately $2,019,000. Tudor Investment Corp ET AL owned about 0.09% of Ramaco Resources at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Archer Investment Corp purchased a new position in Ramaco Resources in the 3rd quarter worth $33,000. Allworth Financial LP raised its stake in Ramaco Resources by 3,603.6% in the 3rd quarter. Allworth Financial LP now owns 1,037 shares of the energy company’s stock worth $34,000 after acquiring an additional 1,009 shares during the last quarter. MCF Advisors LLC purchased a new position in Ramaco Resources in the 3rd quarter worth $35,000. Advisory Services Network LLC purchased a new position in Ramaco Resources in the 3rd quarter worth $38,000. Finally, Sunbelt Securities Inc. raised its stake in Ramaco Resources by 400.0% in the 3rd quarter. Sunbelt Securities Inc. now owns 2,500 shares of the energy company’s stock worth $83,000 after acquiring an additional 2,000 shares during the last quarter. Hedge funds and other institutional investors own 74.49% of the company’s stock.

Ramaco Resources Price Performance

NASDAQ:METC opened at $13.55 on Monday. Ramaco Resources, Inc. has a 52 week low of $7.70 and a 52 week high of $57.80. The company has a quick ratio of 4.66, a current ratio of 5.46 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $909.48 million, a PE ratio of -13.69 and a beta of 1.43. The stock’s 50-day moving average price is $15.67 and its 200-day moving average price is $21.83.

Ramaco Resources (NASDAQ:METC) last posted its earnings results on Wednesday, February 25th. The energy company reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.02. Ramaco Resources had a negative return on equity of 12.01% and a negative net margin of 9.59%.The firm had revenue of $108.72 million for the quarter, compared to analysts’ expectations of $143.48 million. During the same period last year, the firm earned $0.02 EPS. The company’s quarterly revenue was down 25.1% on a year-over-year basis. As a group, equities analysts expect that Ramaco Resources, Inc. will post 0.05 EPS for the current fiscal year.

Ramaco Resources announced that its board has approved a share 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 purchase up to 9.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Jefferies Financial Group upgraded Ramaco Resources from a “hold” rating to a “buy” rating and reduced their target price for the stock from $33.00 to $30.00 in a research note on Tuesday, January 20th. Weiss Ratings restated a “sell (d+)” rating on shares of Ramaco Resources in a research note on Monday, December 29th. Zacks Research lowered Ramaco Resources from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 3rd. Robert W. Baird reduced their target price on Ramaco Resources from $40.00 to $30.00 and set an “outperform” rating for the company in a research note on Friday, February 27th. Finally, Morgan Stanley reduced their target price on Ramaco Resources from $17.50 to $17.00 and set an “equal weight” rating for the company in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Ramaco Resources currently has an average rating of “Hold” and an average price target of $31.86.

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.