Ramaco Resources: Down after fund distributes shares to partners
26/03/2019 19:50
** Shares of Ramaco Resources Inc METC.O are down 6.35 pct to
$5.75
** Co said Tues that one fund run by top investor Yorktown
Energy Partners LLC made in kind distribution of 1 mln shares of
common stock (2.4 pct of outstanding shares) to its partners,
which are permitted to be sold immediately urn:newsml:reuters.com:*:nPn7vBdf6a
** The fund, Yorktown IX, will continue to own 29.3 pct of
total outstanding shares of the Kentucky-based developer of
metallurgical coal. After taking into account the distribution
by Yorktown IX, all Yorktown funds collectively own 52 pct of
METC
** METC has outperformed the S&P 500 Steel sub index by 25.4
pct points in the last month and has surpassed the broader
NASDAQ by 14.8 pct points
** The avg rating of the 7 analysts cover METC is "buy" and
the mean price target is $9.43
((noel.randewich@tr.com; Twitter handle: @randewich (415) 677
2542; Reuters Messaging:
noel.randewich.thomsonreuters.com@reuters.net))