PDT Partners LLC Invests $759,000 in Ramaco Resources, Inc. (NASDAQ:METC)

PDT Partners LLC purchased a new position in shares of Ramaco Resources, Inc. (NASDAQ:METC - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 74,010 shares of the energy company's stock, valued at approximately $759,000. PDT Partners LLC owned approximately 0.14% of Ramaco Resources at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. AlphaQuest LLC acquired a new stake in shares of Ramaco Resources during the 4th quarter worth $50,000. Campbell Capital Management Inc. bought a new position in Ramaco Resources in the 4th quarter valued at about $51,000. Jones Financial Companies Lllp acquired a new position in shares of Ramaco Resources in the 4th quarter valued at approximately $56,000. Royce & Associates LP acquired a new position in shares of Ramaco Resources in the 4th quarter valued at approximately $94,000. Finally, Prairiewood Capital LLC bought a new stake in shares of Ramaco Resources during the 4th quarter worth approximately $103,000. Institutional investors own 74.49% of the company's stock.

Insider Buying and Selling

In other Ramaco Resources news, major shareholder Yorktown Energy Partners Xi, L sold 98,274 shares of Ramaco Resources stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $8.85, for a total value of $869,724.90. Following the completion of the sale, the insider now directly owns 1,052,404 shares in the company, valued at approximately $9,313,775.40. The trade was a 8.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Yorktown Xi Associates Llc sold 89,501 shares of the stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $8.09, for a total value of $724,063.09. Following the transaction, the insider now owns 1,024,870 shares in the company, valued at $8,291,198.30. The trade was a 8.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 922,582 shares of company stock valued at $7,898,023 over the last ninety days. 41.20% of the stock is owned by company insiders.

Ramaco Resources Price Performance

Ramaco Resources stock traded up $0.05 during mid-day trading on Friday, reaching $10.00. The company had a trading volume of 481,408 shares, compared to its average volume of 609,451. The business has a fifty day simple moving average of $8.94 and a 200 day simple moving average of $10.12. The company has a market cap of $444.08 million, a P/E ratio of 15.38 and a beta of 1.28. Ramaco Resources, Inc. has a fifty-two week low of $6.30 and a fifty-two week high of $16.52. The company has a current ratio of 1.35, a quick ratio of 0.86 and a debt-to-equity ratio of 0.23.

Ramaco Resources (NASDAQ:METC - Get Free Report) last posted its quarterly earnings data on Monday, March 10th. The energy company reported $0.06 earnings per share for the quarter, missing analysts' consensus estimates of $0.42 by ($0.36). The company had revenue of $170.90 million during the quarter, compared to analyst estimates of $166.59 million. Ramaco Resources had a net margin of 5.35% and a return on equity of 10.17%. The business's revenue for the quarter was down 15.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.24 earnings per share. On average, equities research analysts predict that Ramaco Resources, Inc. will post 0.05 earnings per share for the current year.

Ramaco Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be given a dividend of $0.0688 per share. The ex-dividend date is Friday, May 30th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.75%. Ramaco Resources's dividend payout ratio (DPR) is 245.45%.

Analyst Ratings Changes

Several research analysts have commented on METC shares. B. Riley lowered their price objective on shares of Ramaco Resources from $18.00 to $14.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Jefferies Financial Group dropped their price objective on Ramaco Resources from $19.00 to $13.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Finally, Benchmark reiterated a "buy" rating on shares of Ramaco Resources in a research report on Wednesday, March 12th.

Ramaco Resources Company Profile

Ramaco Resources, Inc engages in the development, operation, and sale of metallurgical coal. Its development portfolio includes the Elk Creek project that covers an area of approximately 20,200 acres located in southern West Virginia; the Berwind property covering an area of approximately 62,500 acres situated on the border of West Virginia and Virginia; the Knox Creek property, which covers an area of approximately 64,050 acres is located in Virginia; the Maben property covering an area of approximately 28,000 acres situated in southwestern Pennsylvania southern West Virginia; and the Brook Mine property that covers an area of approximately 16,000 acres located in northeastern Wyoming.