Bank of America Corp DE Acquires 40,172 Shares of Ramaco Resources, Inc. (NASDAQ:METC)

Bank of America Corp DE raised its holdings in Ramaco Resources, Inc. (NASDAQ:METC - Free Report) by 127.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 71,795 shares of the energy company's stock after acquiring an additional 40,172 shares during the quarter. Bank of America Corp DE owned 0.14% of Ramaco Resources worth $737,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of METC. AlphaQuest LLC bought a new stake in shares of Ramaco Resources in the 4th quarter worth approximately $50,000. Campbell Capital Management Inc. bought a new position in shares of Ramaco Resources in the fourth quarter valued at $51,000. Jones Financial Companies Lllp bought a new position in shares of Ramaco Resources in the fourth quarter valued at $56,000. BNP Paribas Financial Markets acquired a new stake in shares of Ramaco Resources during the 4th quarter valued at $80,000. Finally, Royce & Associates LP bought a new stake in shares of Ramaco Resources during the 4th quarter worth $94,000. 74.49% of the stock is owned by institutional investors and hedge funds.

Ramaco Resources Stock Up 1.7%

Shares of Ramaco Resources stock traded up $0.17 during midday trading on Thursday, hitting $10.25. The company's stock had a trading volume of 682,356 shares, compared to its average volume of 620,951. Ramaco Resources, Inc. has a 1-year low of $6.24 and a 1-year high of $15.35. The company has a quick ratio of 0.86, a current ratio of 1.35 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $560.72 million, a P/E ratio of 15.77 and a beta of 1.18. The stock has a 50-day simple moving average of $9.24 and a 200-day simple moving average of $9.76.

Ramaco Resources (NASDAQ:METC - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The energy company reported ($0.19) EPS for the quarter, topping analysts' consensus estimates of ($0.29) by $0.10. Ramaco Resources had a return on equity of 10.17% and a net margin of 5.35%. The firm had revenue of $115.61 million during the quarter, compared to analyst estimates of $137.10 million. During the same period last year, the company posted $0.23 EPS. The business's quarterly revenue was down 22.0% compared to the same quarter last year. As a group, sell-side analysts expect that Ramaco Resources, Inc. will post 0.05 earnings per share for the current year.

Ramaco Resources Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be issued a dividend of $0.0688 per share. This represents a $0.28 annualized dividend and a dividend yield of 2.68%. The ex-dividend date is Friday, May 30th. Ramaco Resources's dividend payout ratio is currently -337.50%.

Insider Activity at Ramaco Resources

In related news, major shareholder Yorktown Energy Partners Xi, L sold 98,274 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $8.85, for a total transaction 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. This trade represents a 8.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter A. Leidel sold 180,936 shares of Ramaco Resources stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $8.82, for a total value of $1,595,855.52. Following the sale, the director now directly owns 708,001 shares of the company's stock, valued at approximately $6,244,568.82. The trade was a 20.35% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 922,582 shares of company stock valued at $7,898,023. Corporate insiders own 36.20% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on METC. B. Riley decreased their price target on Ramaco Resources from $18.00 to $14.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Wall Street Zen cut shares of Ramaco Resources from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Finally, Benchmark cut their price target on shares of Ramaco Resources from $18.00 to $14.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th.

About Ramaco Resources

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.