Wedge Capital Management L L P NC Buys 17,578 Shares of Ramaco Resources, Inc. $METCB

Key Points

• Wedge Capital Management L L P NC increased its stake in Ramaco Resources, Inc. by 11.0%, purchasing an additional 17,578 shares, bringing its total to 177,367 shares worth approximately $1.45 million.
• Ramaco Resources recently announced a quarterly dividend of $0.1918, an increase from the previous dividend of $0.18, reflecting a 4.4% dividend yield.
• The company's stock price opened at $17.49 and has a market cap of approximately $965.97 million, despite reporting a negative earnings per share of ($0.29) for the last quarter.

Wedge Capital Management L L P NC increased its position in Ramaco Resources, Inc. (NASDAQ:METCB - Free Report) by 11.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 177,367 shares of the company's stock after buying an additional 17,578 shares during the quarter. Wedge Capital Management L L P NC owned 0.32% of Ramaco Resources worth $1,451,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Russell Investments Group Ltd. increased its stake in shares of Ramaco Resources by 1,403.7% in the first quarter. Russell Investments Group Ltd. now owns 9,052 shares of the company's stock worth $64,000 after buying an additional 8,450 shares during the period. Nuveen LLC purchased a new position in shares of Ramaco Resources in the first quarter worth $79,000. XTX Topco Ltd purchased a new position in shares of Ramaco Resources in the first quarter worth $97,000. Bank of America Corp DE increased its stake in shares of Ramaco Resources by 64.6% in the fourth quarter. Bank of America Corp DE now owns 12,516 shares of the company's stock worth $124,000 after buying an additional 4,914 shares during the period. Finally, Wellington Management Group LLP purchased a new position in shares of Ramaco Resources in the fourth quarter worth $146,000. 9.63% of the stock is owned by hedge funds and other institutional investors.

Ramaco Resources Stock Down 0.5%

Shares of NASDAQ METCB opened at $17.49 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 1.36 and a debt-to-equity ratio of 0.36. The firm's fifty day moving average is $15.21 and its 200 day moving average is $10.54. The company has a market cap of $965.97 million, a price-to-earnings ratio of -38.02 and a beta of 0.90. Ramaco Resources, Inc. has a 52 week low of $6.01 and a 52 week high of $20.81.

Ramaco Resources (NASDAQ:METCB - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported ($0.29) earnings per share (EPS) for the quarter. The company had revenue of $152.96 million for the quarter. Ramaco Resources had a negative net margin of 3.17% and a negative return on equity of 5.70%.

Ramaco Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, September 5th were given a $0.1918 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $0.77 dividend on an annualized basis and a dividend yield of 4.4%. This is a boost from Ramaco Resources's previous quarterly dividend of $0.18. Ramaco Resources's payout ratio is currently -167.39%.

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.

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