Wedge Capital Management L L P NC Sells 44,916 Shares of Ramaco Resources, Inc. (NASDAQ:METC)

Wedge Capital Management L L P NC reduced its stake in shares of Ramaco Resources, Inc. (NASDAQ:METC - Free Report) by 25.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 132,165 shares of the energy company's stock after selling 44,916 shares during the period. Wedge Capital Management L L P NC owned 0.24% of Ramaco Resources worth $1,088,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of METC. AlphaQuest LLC bought a new position in shares of Ramaco Resources during the 4th quarter worth about $50,000. Campbell Capital Management Inc. acquired a new stake in shares of Ramaco Resources during the fourth quarter worth approximately $51,000. Jones Financial Companies Lllp acquired a new position in Ramaco Resources in the fourth quarter worth $56,000. BNP Paribas Financial Markets bought a new stake in Ramaco Resources during the 4th quarter worth about $80,000. Finally, Royce & Associates LP bought a new position in Ramaco Resources in the 4th quarter worth approximately $94,000. 74.49% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Peter A. Leidel sold 245,000 shares of the company's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $8.85, for a total transaction of $2,168,250.00. Following the completion of the sale, the director now owns 695,601 shares of the company's stock, valued at approximately $6,156,068.85. This represents a 26.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Yorktown Energy Partners Xi, L sold 98,274 shares of Ramaco Resources stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $8.85, for a total transaction of $869,724.90. Following the completion of the transaction, the insider now directly owns 1,052,404 shares in the company, valued at $9,313,775.40. This trade represents a 8.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 922,582 shares of company stock valued at $7,898,023 over the last quarter. 36.20% of the stock is owned by company insiders.

Ramaco Resources Stock Performance

Ramaco Resources stock traded up $0.17 during midday trading on Thursday, hitting $10.25. The company's stock had a trading volume of 688,146 shares, compared to its average volume of 622,067. The company has a 50-day moving average price of $9.24 and a two-hundred day moving average price of $9.76. Ramaco Resources, Inc. has a 1-year low of $6.24 and a 1-year high of $15.35. The company has a market cap of $560.72 million, a price-to-earnings ratio of 15.77 and a beta of 1.18. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.35 and a quick ratio of 0.86.

Ramaco Resources (NASDAQ:METC - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The energy company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.10. Ramaco Resources had a return on equity of 10.17% and a net margin of 5.35%. The business had revenue of $115.61 million during the quarter, compared to analysts' expectations of $137.10 million. During the same period in the previous year, the company posted $0.23 earnings per share. The firm's revenue for the quarter was down 22.0% compared to the same quarter last year. As a group, sell-side analysts predict that Ramaco Resources, Inc. will post 0.05 earnings per share for the current year.

Ramaco Resources Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be paid a $0.0688 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date is Friday, May 30th. Ramaco Resources's dividend payout ratio (DPR) is presently -337.50%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Wall Street Zen downgraded Ramaco Resources from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. 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. Finally, B. Riley 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 research report on Friday, April 11th.

Ramaco Resources Company 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.