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

Bank of America Corp DE raised its position in Ramaco Resources, Inc. (NASDAQ:METC - Free Report) by 127.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 71,795 shares of the energy company's stock after purchasing an additional 40,172 shares during the period. Bank of America Corp DE owned 0.14% of Ramaco Resources worth $737,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in METC. AlphaQuest LLC bought a new stake in shares of Ramaco Resources during the 4th quarter valued at about $50,000. Campbell Capital Management Inc. purchased a new stake in Ramaco Resources in the fourth quarter valued at approximately $51,000. Jones Financial Companies Lllp purchased a new position in Ramaco Resources in the 4th quarter worth approximately $56,000. BNP Paribas Financial Markets bought a new position in shares of Ramaco Resources in the 4th quarter worth $80,000. Finally, Royce & Associates LP purchased a new stake in shares of Ramaco Resources during the 4th quarter valued at $94,000. Hedge funds and other institutional investors own 74.49% of the company's stock.

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 dated Monday, March 24th. The shares were sold at an average price of $8.85, for a total value of $869,724.90. Following the completion of the transaction, the insider now directly owns 1,052,404 shares of the company's stock, valued at $9,313,775.40. This represents a 8.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Yorktown Xi Associates Llc sold 89,501 shares of the firm's stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $8.09, for a total transaction of $724,063.09. Following the completion of the sale, the insider now owns 1,024,870 shares of the company's stock, valued at $8,291,198.30. This trade represents a 8.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 922,582 shares of company stock worth $7,898,023 in the last three months. 36.20% of the stock is owned by insiders.

Analysts Set New Price Targets

METC has been the subject of several research reports. Benchmark cut their target price on shares of Ramaco Resources from $18.00 to $14.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Wall Street Zen lowered Ramaco Resources from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, B. Riley dropped their target price 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.

Ramaco Resources Price Performance

METC stock opened at $9.65 on Monday. The firm has a market cap of $527.89 million, a P/E ratio of 14.85 and a beta of 1.18. The firm's fifty day moving average is $9.10 and its 200 day moving average is $9.77. Ramaco Resources, Inc. has a 52 week low of $6.24 and a 52 week high of $15.35. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.86 and a current ratio of 1.35.

Ramaco Resources (NASDAQ:METC - Get Free Report) last released its earnings results on Monday, May 12th. The energy company reported ($0.19) earnings per share for the quarter, beating 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 company had revenue of $115.61 million during the quarter, compared to analyst estimates of $137.10 million. During the same quarter in the previous year, the company posted $0.23 EPS. Ramaco Resources's revenue for the quarter was down 22.0% on a year-over-year basis. Research analysts predict that Ramaco Resources, Inc. will post 0.05 earnings per share for the current year.

Ramaco Resources Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be paid a $0.0688 dividend. This represents a $0.28 annualized dividend and a dividend yield of 2.85%. The ex-dividend date is Friday, May 30th. Ramaco Resources's payout ratio is -337.50%.

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.

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