Millennium Management LLC Has $135,000 Holdings in Ramaco Resources, Inc. (NASDAQ:METC)

Millennium Management LLC decreased its holdings in Ramaco Resources, Inc. (NASDAQ:METC - Free Report) by 84.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,117 shares of the energy company's stock after selling 71,642 shares during the quarter. Millennium Management LLC's holdings in Ramaco Resources were worth $135,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Legal & General Group Plc boosted its position in shares of Ramaco Resources by 15.3% in the fourth quarter. Legal & General Group Plc now owns 13,752 shares of the energy company's stock worth $141,000 after buying an additional 1,822 shares during the period. MetLife Investment Management LLC grew its stake 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 in the last quarter. New York State Common Retirement Fund increased its holdings in shares of Ramaco Resources by 12.5% in the 4th quarter. New York State Common Retirement Fund now owns 17,988 shares of the energy company's stock valued at $185,000 after purchasing an additional 2,000 shares during the period. Cetera Investment Advisers lifted its position in shares of Ramaco Resources by 27.3% in the fourth quarter. Cetera Investment Advisers now owns 12,872 shares of the energy company's stock worth $132,000 after purchasing an additional 2,760 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted 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 worth $2,723,000 after purchasing an additional 3,013 shares during the period. Institutional investors own 74.49% of the company's stock.

Ramaco Resources Stock Up 7.1%

Shares of METC traded up $0.73 during mid-day trading on Friday, hitting $10.98. 1,397,280 shares of the company's stock were exchanged, compared to its average volume of 625,158. The stock has a market cap of $600.65 million, a price-to-earnings ratio of 16.89 and a beta of 1.18. The firm has a fifty day moving average of $9.31 and a two-hundred day moving average of $9.74. The company has a quick ratio of 0.86, a current ratio of 1.35 and a debt-to-equity ratio of 0.23. 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 posted its earnings results on Monday, May 12th. The energy company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.10. Ramaco Resources had a net margin of 5.35% and a return on equity of 10.17%. The firm had revenue of $115.61 million for the quarter, compared to the consensus estimate of $137.10 million. During the same period in the prior year, the business posted $0.23 earnings per share. The business's quarterly revenue was down 22.0% on a year-over-year basis. On average, sell-side analysts forecast that Ramaco Resources, Inc. will post 0.05 earnings per share for the current year.

Ramaco Resources Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders 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 yield of 2.50%. Ramaco Resources's payout ratio is currently -337.50%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Benchmark dropped their price objective on shares of 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 lowered Ramaco Resources from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Finally, B. Riley lowered their target price on Ramaco Resources from $18.00 to $14.00 and set a "buy" rating on the stock in a research note on Friday, April 11th.

Insider Buying and Selling at Ramaco Resources

In related news, Director Peter A. Leidel sold 180,936 shares of the firm's 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 transaction, the director now directly owns 708,001 shares in the company, valued at approximately $6,244,568.82. This trade represents a 20.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Yorktown Xi Associates Llc sold 89,501 shares of the business's stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $8.09, for a total transaction of $724,063.09. Following the transaction, the insider now directly owns 1,024,870 shares of the company's stock, valued at approximately $8,291,198.30. This represents a 8.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 922,582 shares of company stock worth $7,898,023 over the last 90 days. Insiders own 36.20% of the company's stock.

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.