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

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

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Ameritas Investment Partners Inc. boosted its stake 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 in the last quarter. Farther Finance Advisors LLC lifted its holdings 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 during the period. SG Americas Securities LLC purchased a new stake in Ramaco Resources in the third quarter worth about $134,000. Global Retirement Partners LLC grew its holdings in shares of Ramaco Resources by 112.5% during the 3rd quarter. Global Retirement Partners LLC now owns 4,250 shares of the energy company’s stock worth $141,000 after acquiring an additional 2,250 shares during the period. Finally, Pingora Partners LLC raised its position in shares of Ramaco Resources by 208.1% in the 2nd 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 owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on METC. Benchmark lifted their price target on Ramaco Resources from $24.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Baird R W raised Ramaco Resources to a “strong-buy” rating in a research report on Thursday, October 16th. The Goldman Sachs Group began coverage on shares of Ramaco Resources in a report on Wednesday, November 19th. They set a “sell” rating and a $16.00 target price on the stock. Robert W. Baird set a $43.00 price target on shares of Ramaco Resources in a research note on Wednesday, October 29th. Finally, Northland Securities set a $44.00 price target on shares of Ramaco Resources in a research report on Wednesday, October 29th. Two research 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 has an average rating of “Moderate Buy” and an average target price of $34.50.

Ramaco Resources Trading Down 7.8%

NASDAQ METC opened at $20.34 on Wednesday. Ramaco Resources, Inc. has a 12 month low of $6.30 and a 12 month high of $57.80. The company has a current ratio of 2.97, a quick ratio of 2.24 and a debt-to-equity ratio of 0.24. The stock’s fifty day moving average price is $18.34 and its 200-day moving average price is $24.18. The stock has a market cap of $1.34 billion, a P/E ratio of -30.36 and a beta of 1.44.

Ramaco Resources (NASDAQ:METC) last posted its quarterly earnings results on Monday, October 27th. The energy company reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.05. Ramaco Resources had a negative return on equity of 8.26% and a negative net margin of 5.67%.The firm had revenue of $104.87 million during the quarter, compared to analyst estimates of $137.63 million. During the same quarter in the previous year, the firm earned ($0.03) EPS. Ramaco Resources’s quarterly revenue was down 27.7% compared to the same quarter last year. As a group, equities analysts forecast that Ramaco Resources, Inc. will post 0.05 EPS for the current fiscal year.

Ramaco Resources announced that its Board of Directors has authorized a stock buyback plan 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 shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

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.