Ramaco Resources, Inc. (NASDAQ:METC) Shares Bought by Victory Capital Management Inc.

Key Points

• Victory Capital Management Inc. has increased its stake in Ramaco Resources by 15.6%, owning 127,062 shares valued at approximately $1.05 million.
• Ramaco Resources reported a quarterly loss of ($0.29) earnings per share, missing the consensus estimate, while revenue of $152.96 million exceeded expectations.
• Analysts have set a new price target for Ramaco Resources, with Jefferies Financial Group raising its target to $27.00 from $15.00, while other firms have decreased their targets.

Victory Capital Management Inc. grew its holdings in shares of Ramaco Resources, Inc. (NASDAQ:METC - Free Report) by 15.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 127,062 shares of the energy company's stock after buying an additional 17,121 shares during the quarter. Victory Capital Management Inc. owned 0.24% of Ramaco Resources worth $1,046,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Dimensional Fund Advisors LP grew its stake in Ramaco Resources by 8.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,745,409 shares of the energy company's stock worth $17,907,000 after purchasing an additional 142,423 shares in the last quarter. American Century Companies Inc. lifted its holdings in Ramaco Resources by 10.8% during the fourth quarter. American Century Companies Inc. now owns 870,957 shares of the energy company's stock worth $8,936,000 after buying an additional 84,734 shares during the period. Wells Fargo & Company MN lifted its holdings in Ramaco Resources by 39.0% during the fourth quarter. Wells Fargo & Company MN now owns 797,283 shares of the energy company's stock worth $8,180,000 after buying an additional 223,682 shares during the period. Point72 Asset Management L.P. lifted its holdings in 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 buying an additional 346,265 shares during the period. Finally, CenterBook Partners LP purchased a new stake in Ramaco Resources during the fourth quarter worth $6,862,000. Institutional investors own 74.49% of the company's stock.

Ramaco Resources Stock Performance

Shares of NASDAQ METC traded up $1.74 during trading on Monday, reaching $20.70. 1,038,766 shares of the company traded hands, compared to its average volume of 1,259,595. The firm's fifty day simple moving average is $14.16 and its 200 day simple moving average is $10.98. The stock has a market cap of $1.13 billion, a P/E ratio of -46.17 and a beta of 1.35. Ramaco Resources, Inc. has a 12-month low of $6.30 and a 12-month high of $24.75. The company has a current ratio of 1.32, a quick ratio of 0.87 and a debt-to-equity ratio of 0.33.

Ramaco Resources (NASDAQ:METC - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The energy company reported ($0.29) earnings per share for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.07). The company had revenue of $152.96 million for the quarter, compared to analysts' expectations of $131.55 million. Ramaco Resources had a negative net margin of 3.17% and a negative return on equity of 5.50%. The business's quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.08 EPS. As a group, research analysts anticipate that Ramaco Resources, Inc. will post 0.05 earnings per share for the current fiscal year.

Ramaco Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were given a dividend of $0.0688 per share. The ex-dividend date was Friday, May 30th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.3%. Ramaco Resources's dividend payout ratio (DPR) is -62.22%.

Analyst Upgrades and Downgrades

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

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.