Acuitas Investments LLC Lowers Stock Position in Ramaco Resources, Inc. $METC

Acuitas Investments LLC lowered its stake in shares of Ramaco Resources, Inc. (NASDAQ:METC) by 71.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 102,610 shares of the energy company’s stock after selling 260,968 shares during the quarter. Ramaco Resources accounts for 2.2% of Acuitas Investments LLC’s investment portfolio, making the stock its 23rd biggest position. Acuitas Investments LLC owned 0.16% of Ramaco Resources worth $3,406,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in the business. Keystone Financial Group purchased a new stake in shares of Ramaco Resources in the 3rd quarter worth about $88,000. Scientech Research LLC bought a new position in shares of Ramaco Resources during the third quarter valued at $582,000. Potrero Capital Research LLC bought a new position in Ramaco Resources during the 3rd quarter valued at about $11,575,000. Millennium Management LLC purchased a new stake in Ramaco Resources in the third quarter worth approximately $23,451,000. Finally, Lighthouse Investment Partners LLC purchased a new position in Ramaco Resources in the third quarter worth about $2,682,000. 74.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on METC. Morgan Stanley assumed coverage on Ramaco Resources in a research report on Friday, December 5th. They set an “equal weight” rating and a $17.50 target price on the stock. Jefferies Financial Group upgraded shares of Ramaco Resources from a “hold” rating to a “buy” rating and lowered their price objective for the company from $33.00 to $30.00 in a research report on Tuesday, January 20th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Ramaco Resources in a research note on Monday, December 29th. Robert W. Baird reduced their target price on shares of Ramaco Resources from $40.00 to $30.00 and set an “outperform” rating on the stock in a research report on Friday, February 27th. Finally, The Goldman Sachs Group decreased their price objective on Ramaco Resources from $16.00 to $14.00 and set a “sell” rating for the company in a research note on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Ramaco Resources presently has an average rating of “Hold” and an average target price of $31.93.

Ramaco Resources Stock Performance

Shares of NASDAQ:METC opened at $14.32 on Wednesday. Ramaco Resources, Inc. has a 1 year low of $6.30 and a 1 year high of $57.80. The company has a debt-to-equity ratio of 0.95, a current ratio of 5.46 and a quick ratio of 4.66. The business’s 50 day moving average price is $18.35 and its 200-day moving average price is $23.43. The firm has a market capitalization of $801.35 million, a PE ratio of -14.46 and a beta of 1.41.

Ramaco Resources (NASDAQ:METC) last issued 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. The business had revenue of $108.72 million during the quarter, compared to analysts’ expectations of $143.48 million. Ramaco Resources had a negative net margin of 9.59% and a negative return on equity of 12.01%. The company’s quarterly revenue was down 25.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.02 earnings per share. As a group, equities research analysts expect that Ramaco Resources, Inc. will post 0.05 earnings per share for the current fiscal year.

Ramaco Resources announced that its Board of Directors has initiated a share buyback program on Tuesday, December 23rd that permits the company to buyback $100.00 million in shares. This buyback authorization permits the energy company to reacquire up to 9.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.