Mangrove Partners purchased a new stake in shares of Ramaco Resources Inc (NASDAQ:METC) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 291,890 shares of the energy company’s stock, valued at approximately $2,008,000. Ramaco Resources comprises 0.3% of Mangrove Partners’ portfolio, making the stock its 26th largest position. Mangrove Partners owned about 0.74% of Ramaco Resources at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of METC. Anchor Bolt Capital LP grew its holdings in shares of Ramaco Resources by 106.8% in the fourth quarter. Anchor Bolt Capital LP now owns 1,751,907 shares of the energy company’s stock worth $12,053,000 after purchasing an additional 904,577 shares during the last quarter. Triarii Capital Management LP bought a new position in shares of Ramaco Resources in the fourth quarter worth approximately $4,403,000. Vanguard Group Inc. grew its holdings in shares of Ramaco Resources by 91.3% in the second quarter. Vanguard Group Inc. now owns 207,800 shares of the energy company’s stock worth $1,258,000 after purchasing an additional 99,188 shares during the last quarter. Alyeska Investment Group L.P. grew its holdings in shares of Ramaco Resources by 15.8% in the third quarter. Alyeska Investment Group L.P. now owns 550,000 shares of the energy company’s stock worth $3,647,000 after purchasing an additional 75,000 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Ramaco Resources by 89.0% in the second quarter. State Street Corp now owns 61,626 shares of the energy company’s stock worth $373,000 after purchasing an additional 29,026 shares during the last quarter. Institutional investors and hedge funds own 87.86% of the company’s stock.
METC stock traded up $0.24 on Monday, reaching $7.43. The company’s stock had a trading volume of 53,308 shares, compared to its average volume of 106,884. Ramaco Resources Inc has a 12-month low of $3.81 and a 12-month high of $10.18.
Ramaco Resources (NASDAQ:METC) last announced its quarterly earnings results on Wednesday, March 21st. The energy company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.13). Ramaco Resources had a negative return on equity of 12.97% and a negative net margin of 25.26%. The business had revenue of $24.02 million during the quarter. sell-side analysts anticipate that Ramaco Resources Inc will post 1.14 EPS for the current fiscal year.
Several research analysts have recently issued reports on METC shares. Zacks Investment Research upgraded shares of Ramaco Resources from a “strong sell” rating to a “strong-buy” rating and set a $8.50 target price on the stock in a report on Wednesday, January 10th. ValuEngine lowered Ramaco Resources from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. BMO Capital Markets set a $9.00 price target on Ramaco Resources and gave the stock a “buy” rating in a research note on Monday, March 26th. Finally, Credit Suisse Group raised their price target on Ramaco Resources from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 27th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $10.63.
Ramaco Resources Profile
Ramaco Resources, Inc is a development-stage company. The Company is a developer of metallurgical coal in central and southern West Virginia, southwestern Virginia and southwestern Pennsylvania. The Company’s project portfolio includes Elk Creek, Berwind, RAM Mine and Knox Creek. As of December 29, 2016, the Elk Creek property in southern West Virginia consisted of approximately 17,128 acres of controlled mineral.
Receive News & Ratings for Ramaco Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ramaco Resources and related companies with MarketBeat.com's FREE daily email newsletter.