Exchange Traded Concepts LLC Has $574,000 Stake in Ramaco Resources, Inc. (NASDAQ:METC)

Exchange Traded Concepts LLC increased its holdings in shares of Ramaco Resources, Inc. (NASDAQ:METC - Free Report) by 59.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,763 shares of the energy company's stock after acquiring an additional 25,992 shares during the quarter. Exchange Traded Concepts LLC owned approximately 0.13% of Ramaco Resources worth $574,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Discovery Capital Management LLC CT bought a new position in shares of Ramaco Resources during the fourth quarter worth about $9,289,000. CenterBook Partners LP acquired a new position in Ramaco Resources in the fourth quarter worth approximately $6,862,000. Graham Capital Management L.P. acquired a new stake in shares of Ramaco Resources during the fourth quarter worth $3,588,000. Point72 Asset Management L.P. raised its position in shares of Ramaco Resources by 98.9% during the fourth quarter. Point72 Asset Management L.P. now owns 696,531 shares of the energy company's stock worth $7,146,000 after purchasing an additional 346,265 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in shares of Ramaco Resources by 39.0% during the fourth quarter. Wells Fargo & Company MN now owns 797,283 shares of the energy company's stock valued at $8,180,000 after purchasing an additional 223,682 shares during the last quarter. Institutional investors own 74.49% of the company's stock.

Ramaco Resources Stock Down 1.7%

NASDAQ:METC traded down $0.19 during trading hours on Wednesday, hitting $11.04. 1,009,771 shares of the company's stock traded hands, compared to its average volume of 637,086. The stock's fifty day moving average price is $9.85 and its two-hundred day moving average price is $9.65. The firm has a market cap of $603.89 million, a P/E ratio of -138.00 and a beta of 1.18. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.87 and a current ratio of 1.32. Ramaco Resources, Inc. has a twelve month low of $6.24 and a twelve month high of $15.35.

Ramaco Resources (NASDAQ:METC - Get Free Report) last issued 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. The company had revenue of $115.61 million for the quarter, compared to the consensus estimate of $137.10 million. Ramaco Resources had a negative return on equity of 0.08% and a negative net margin of 0.05%. The firm's quarterly revenue was down 22.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.23 EPS. On average, research analysts expect that Ramaco Resources, Inc. will post 0.05 earnings per share for the current fiscal year.

Ramaco Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a $0.0688 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.28 annualized dividend and a yield of 2.49%. Ramaco Resources's dividend payout ratio is presently -350.00%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on METC. Benchmark dropped their price target on Ramaco Resources from $18.00 to $14.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Wall Street Zen downgraded shares of Ramaco Resources from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, B. Riley reduced their price target 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.

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.