Ramaco Resources, Inc. (NASDAQ:METC) Position Trimmed by Marshall Wace LLP

Posted by on Mar 12th, 2023

Marshall Wace LLP trimmed its stake in Ramaco Resources, Inc. (NASDAQ:METC – Get Rating) by 36.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 752,745 shares of the energy company’s stock after selling 426,425 shares during the quarter. Marshall Wace LLP owned 1.71% of Ramaco Resources worth $6,924,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in METC. Encompass Capital Advisors LLC purchased a new stake in Ramaco Resources in the 3rd quarter worth approximately $4,682,000. Ensign Peak Advisors Inc acquired a new stake in shares of Ramaco Resources in the third quarter worth about $55,000. First Trust Advisors LP bought a new stake in Ramaco Resources during the third quarter worth approximately $587,000. Bank of New York Mellon Corp lifted its stake in shares of Ramaco Resources by 33.1% in the third quarter. Bank of New York Mellon Corp now owns 111,095 shares of the energy company’s stock worth $1,021,000 after buying an additional 27,599 shares during the last quarter. Finally, BlackRock Inc. boosted its holdings in shares of Ramaco Resources by 15.5% during the 3rd quarter. BlackRock Inc. now owns 1,583,524 shares of the energy company’s stock worth $14,568,000 after buying an additional 212,820 shares during the period. 62.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

METC has been the subject of a number of research analyst reports. B. Riley cut their target price on shares of Ramaco Resources from $15.00 to $13.00 in a research report on Monday, December 12th. Benchmark cut their price objective on Ramaco Resources from $14.00 to $13.00 and set a “buy” rating for the company in a research report on Friday, December 9th.

Ramaco Resources Price Performance

Shares of Ramaco Resources stock opened at $9.80 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.94 and a quick ratio of 0.68. The company has a market cap of $432.38 million, a PE ratio of 3.80 and a beta of 1.12. The firm has a fifty day moving average price of $9.95 and a two-hundred day moving average price of $10.15. Ramaco Resources, Inc. has a fifty-two week low of $8.12 and a fifty-two week high of $21.73.

Ramaco Resources (NASDAQ:METC – Get Rating) last released its earnings results on Wednesday, March 8th. The energy company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.32). Ramaco Resources had a net margin of 20.51% and a return on equity of 43.04%. The company had revenue of $135.23 million during the quarter, compared to the consensus estimate of $147.54 million. Analysts expect that Ramaco Resources, Inc. will post 3.1 EPS for the current year.

About Ramaco Resources

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Ramaco Resources, Inc engages in the operation and development of coal mining properties. The firm deals with metallurgical coal in central and southern West Virginia, southwestern Virginia and southwestern Pennsylvania. Its portfolio consists of Elk Creek, Berwind, RAM Mine, and Knox Creek. The company was founded by Randall W.

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Institutional Ownership by Quarter for Ramaco Resources (NASDAQ:METC)

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