Bank of New York Mellon Corp Reduces Position in Ramaco Resources, Inc. (NASDAQ:METC)

Key Points

• Bank of New York Mellon Corp reduced its stake in Ramaco Resources by 6.4%, holding approximately 490,259 shares valued at $4.04 million as of the last SEC filing.
• Several institutional investors have recently increased their positions in Ramaco Resources, which now has 74.49% of its stock owned by such entities.
• Analysts have mixed sentiments: while Benchmark and B. Riley cut their target price to $14 and maintained a "buy" rating, Jefferies Financial Group raised their target price from $15 to $27, reaffirming a "buy" rating.

Bank of New York Mellon Corp lowered its stake in shares of Ramaco Resources, Inc. (NASDAQ:METC - Free Report) by 6.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 490,259 shares of the energy company's stock after selling 33,750 shares during the quarter. Bank of New York Mellon Corp owned 0.91% of Ramaco Resources worth $4,035,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Ramaco Resources by 3.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 41,656 shares of the energy company's stock worth $427,000 after acquiring an additional 1,425 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Ramaco Resources by 15.3% during the 4th quarter. Legal & General Group Plc now owns 13,752 shares of the energy company's stock valued at $141,000 after purchasing an additional 1,822 shares in the last quarter. MetLife Investment Management LLC lifted its position in Ramaco Resources by 13.9% during the 4th quarter. MetLife Investment Management LLC now owns 16,189 shares of the energy company's stock valued at $166,000 after acquiring an additional 1,970 shares during the period. Cetera Investment Advisers lifted its holdings in shares of Ramaco Resources by 27.3% during the fourth quarter. Cetera Investment Advisers now owns 12,872 shares of the energy company's stock valued at $132,000 after purchasing an additional 2,760 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Ramaco Resources by 1.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 265,367 shares of the energy company's stock valued at $2,723,000 after purchasing an additional 3,013 shares during the last quarter. Hedge funds and other institutional investors own 74.49% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Benchmark decreased their target price on shares of Ramaco Resources from $18.00 to $14.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Jefferies Financial Group reissued a "buy" rating and issued a $27.00 target price (up from $15.00) on shares of Ramaco Resources in a report on Wednesday, July 16th. B. Riley reduced 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 note on Friday, April 11th. Finally, Wall Street Zen lowered shares of Ramaco Resources from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd.

Ramaco Resources Trading Up 1.7%

METC stock traded up $0.38 during trading on Tuesday, hitting $21.92. The company had a trading volume of 295,351 shares, compared to its average volume of 1,213,236. The company has a quick ratio of 0.87, a current ratio of 1.32 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $1.20 billion, a P/E ratio of -273.95 and a beta of 1.30. The company has a 50 day simple moving average of $13.28 and a 200-day simple moving average of $10.68. Ramaco Resources, Inc. has a 52-week low of $6.30 and a 52-week high of $24.75.

Ramaco Resources (NASDAQ:METC - Get Free Report) last released its quarterly 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. The business had revenue of $115.61 million for the quarter, compared to analysts' expectations of $137.10 million. Ramaco Resources had a negative net margin of 0.05% and a negative return on equity of 0.08%. The company's revenue was down 22.0% compared to the same quarter last year. During the same period last year, the business earned $0.23 EPS. As a group, research analysts forecast that Ramaco Resources, Inc. will post 0.05 earnings per share for the current fiscal year.

Ramaco Resources Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were issued a dividend of $0.0688 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.25%. The ex-dividend date was Friday, May 30th. Ramaco Resources's dividend payout ratio (DPR) is -350.00%.

Ramaco Resources 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.