Lunt Capital Management Inc. Has $1.13 Million Holdings in Ramaco Resources, Inc. $METC

Lunt Capital Management Inc. cut its holdings in shares of Ramaco Resources, Inc. (NASDAQ:METC) by 73.0% during the second quarter, Holdings Channel reports. The fund owned 85,170 shares of the energy company’s stock after selling 230,666 shares during the period. Lunt Capital Management Inc.’s holdings in Ramaco Resources were worth $1,127,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Allworth Financial LP increased its holdings in Ramaco Resources by 3,603.6% during the 3rd quarter. Allworth Financial LP now owns 1,037 shares of the energy company’s stock valued at $34,000 after purchasing an additional 1,009 shares in the last quarter. Advisory Services Network LLC acquired a new position in Ramaco Resources in the third quarter worth $38,000. Quarry LP acquired a new position in Ramaco Resources in the fourth quarter worth $27,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of Ramaco Resources by 14,250.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,722 shares of the energy company’s stock worth $31,000 after purchasing an additional 1,710 shares during the last quarter. Finally, Sunbelt Securities Inc. grew its holdings in shares of Ramaco Resources by 400.0% during the third quarter. Sunbelt Securities Inc. now owns 2,500 shares of the energy company’s stock worth $83,000 after purchasing an additional 2,000 shares during the last quarter. 74.49% of the stock is owned by institutional investors and hedge funds.

Ramaco Resources Stock Up 16.3%

Shares of METC opened at $12.25 on Friday. The firm has a market capitalization of $798.39 million, a price-to-earnings ratio of -11.45 and a beta of 1.37. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.31 and a current ratio of 4.23. The business’s fifty day moving average price is $12.11 and its two-hundred day moving average price is $14.41. Ramaco Resources, Inc. has a 52 week low of $8.56 and a 52 week high of $57.80.

Ramaco Resources (NASDAQ:METC) last released its earnings results on Tuesday, August 4th. The energy company reported ($0.26) EPS for the quarter, meeting the consensus estimate of ($0.26). The company had revenue of $122.32 million during the quarter, compared to analysts’ expectations of $133.11 million. Ramaco Resources had a negative return on equity of 13.54% and a negative net margin of 11.98%. On average, analysts predict that Ramaco Resources, Inc. will post -0.76 earnings per share for the current year.

Insider Activity

In related news, major shareholder Discovery Capital Management, sold 500,000 shares of the firm’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $9.57, for a total value of $4,785,000.00. Following the transaction, the insider owned 4,811,360 shares in the company, valued at $46,044,715.20. This trade represents a 9.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 46.07% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on METC. Benchmark lowered their target price on Ramaco Resources from $38.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Weiss Ratings downgraded shares of Ramaco Resources from a “sell (d)” rating to a “sell (d-)” rating in a research report on Thursday, August 6th. Morgan Stanley decreased their price objective on shares of Ramaco Resources from $17.00 to $13.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 8th. The Goldman Sachs Group lowered their price objective on shares of Ramaco Resources from $13.00 to $11.00 and set a “neutral” rating for the company in a research report on Thursday, August 6th. Finally, B. Riley Financial dropped their target price on shares of Ramaco Resources from $24.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $22.71.

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.