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Yorktown XI Associates LLC, a significant shareholder in Ramaco Resources, Inc. (NASDAQ:METC), has recently sold a substantial portion of its holdings in the company. According to a recent SEC filing, the firm disposed of shares totaling approximately $2.23 million. The coal mining company, currently valued at $487 million, offers a notable 6.13% dividend yield and appears undervalued according to InvestingPro analysis.
The transactions were conducted over several days, with the sale prices ranging from $7.9672 to $8.9254 per share. The sales involved both Class A and Class B common stock, with Yorktown XI Associates retaining a significant number of shares in Ramaco Resources following the transactions. Notably, analysts maintain positive outlook with price targets ranging from $14 to $18 per share.
These transactions highlight ongoing adjustments in Yorktown XI Associates’ investment strategy concerning their stake in the coal mining company, which operates in the bituminous coal and lignite mining industry. For deeper insights into Ramaco Resources’ valuation and growth prospects, investors can access comprehensive analysis through InvestingPro’s detailed research reports.
In other recent news, Ramaco Resources reported a strong performance in its fourth quarter, with adjusted earnings per share reaching $0.06, a notable improvement from a loss of $0.03 in the previous quarter. The company also achieved revenue of $170.9 million, marking a 2% sequential increase. Additionally, Ramaco announced a record quarterly sales volume of over 1.1 million tons, while reducing cash costs to $96 per ton, down from $102 in the prior quarter. The adjusted EBITDA for the quarter was $29.2 million, surpassing analyst expectations of $24 million. Benchmark analyst Nathan Martin maintained a Buy rating on Ramaco Resources but adjusted the stock target price from $20 to $18.
In terms of corporate developments, Ramaco Resources is undergoing a leadership transition with E. Forrest Jones, Jr. becoming the General Counsel, and Evan H. Jenkins stepping into the role of Vice-Chairman of the Board. The company is also advancing its analysis of rare earth and mineral deposits at the Brook Mine, with technical and economic analysis results expected by the end of April. Ramaco has factored the capital expenditures for this project into its 2025 guidance, noting that only $10 million has been spent so far. The company reiterated its production and sales guidance for 2025, anticipating potential price increases in the latter half of the year.
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