Cox Capital Mgt LLC Makes New Investment in Ramaco Resources, Inc. $METC

Cox Capital Mgt LLC purchased a new stake in Ramaco Resources, Inc. (NASDAQ:METC) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 46,609 shares of the energy company’s stock, valued at approximately $1,547,000. Cox Capital Mgt LLC owned 0.08% of Ramaco Resources at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Brooklyn Investment Group acquired a new stake in shares of Ramaco Resources during the 1st quarter valued at about $25,000. Ameritas Investment Partners Inc. lifted its stake in Ramaco Resources by 63.9% during the second quarter. Ameritas Investment Partners Inc. now owns 3,632 shares of the energy company’s stock worth $48,000 after purchasing an additional 1,416 shares during the period. State of Wyoming bought a new position in Ramaco Resources during the first quarter worth about $50,000. AlphaQuest LLC boosted its holdings in Ramaco Resources by 30.6% during the first quarter. AlphaQuest LLC now owns 6,332 shares of the energy company’s stock valued at $52,000 after purchasing an additional 1,482 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its stake in shares of Ramaco Resources by 384.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 3,920 shares of the energy company’s stock valued at $52,000 after purchasing an additional 3,110 shares during the period. 74.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

METC has been the subject of several analyst reports. Zacks Research downgraded Ramaco Resources from a “hold” rating to a “strong sell” rating in a research report on Monday, October 13th. Robert W. Baird set a $43.00 price objective on Ramaco Resources in a report on Wednesday, October 29th. The Goldman Sachs Group initiated coverage on shares of Ramaco Resources in a report on Wednesday, November 19th. They issued a “sell” rating and a $16.00 target price on the stock. Northland Securities set a $44.00 target price on shares of Ramaco Resources in a research report on Wednesday, October 29th. Finally, Morgan Stanley began coverage on shares of Ramaco Resources in a research report on Friday, December 5th. They issued an “equal weight” rating and a $17.50 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Ramaco Resources currently has an average rating of “Hold” and an average target price of $34.50.

Ramaco Resources Stock Performance

Shares of NASDAQ:METC opened at $13.98 on Thursday. The business has a fifty day moving average of $26.35 and a 200-day moving average of $23.06. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.24 and a current ratio of 2.97. Ramaco Resources, Inc. has a twelve month low of $6.30 and a twelve month high of $57.80. The firm has a market cap of $922.68 million, a PE ratio of -20.87 and a beta of 1.41.

Ramaco Resources (NASDAQ:METC) last issued its quarterly earnings data on Monday, October 27th. The energy company reported ($0.25) EPS 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 firm had revenue of $104.87 million for the quarter, compared to analyst estimates of $137.63 million. During the same quarter in the prior year, the firm earned ($0.03) EPS. The company’s revenue was down 27.7% on a year-over-year basis. On average, equities research analysts predict that Ramaco Resources, Inc. will post 0.05 EPS for the current fiscal year.

About Ramaco Resources

Ramaco Resources, Inc engages in the development, operation, and sale of metallurgical coal. Its development portfolio includes the Elk Creek project that covers an area of approximately 20,200 acres located in southern West Virginia; the Berwind property covering an area of approximately 62,500 acres situated on the border of West Virginia and Virginia; the Knox Creek property, which covers an area of approximately 64,050 acres is located in Virginia; the Maben property covering an area of approximately 28,000 acres situated in southwestern Pennsylvania southern West Virginia; and the Brook Mine property that covers an area of approximately 16,000 acres located in northeastern Wyoming.