Wexford Capital LP Acquires New Holdings in Ramaco Resources, Inc. (NASDAQ:METC)

Wexford Capital LP bought a new position in Ramaco Resources, Inc. (NASDAQ:METC - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 80,396 shares of the energy company's stock, valued at approximately $825,000. Wexford Capital LP owned 0.15% of Ramaco Resources at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Arkfeld Wealth Strategies L.L.C. grew its position in Ramaco Resources by 0.8% in the 4th quarter. Arkfeld Wealth Strategies L.L.C. now owns 232,755 shares of the energy company's stock worth $2,251,000 after purchasing an additional 1,748 shares during the last quarter. Legal & General Group Plc grew its position in Ramaco Resources by 15.3% in the 4th quarter. Legal & General Group Plc now owns 13,752 shares of the energy company's stock worth $141,000 after purchasing an additional 1,822 shares during the last quarter. MetLife Investment Management LLC grew its position in Ramaco Resources by 13.9% in the 4th quarter. MetLife Investment Management LLC now owns 16,189 shares of the energy company's stock worth $166,000 after purchasing an additional 1,970 shares during the last quarter. New York State Common Retirement Fund grew its position in 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 worth $185,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Cetera Investment Advisers grew its position in Ramaco Resources by 27.3% in the 4th 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 during the last quarter. Institutional investors own 74.49% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on METC. B. Riley decreased their price target on shares of Ramaco Resources from $18.00 to $14.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Benchmark decreased their target price on shares of Ramaco Resources from $18.00 to $14.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th.

Ramaco Resources Price Performance

Shares of Ramaco Resources stock traded down $0.17 during trading on Wednesday, hitting $9.09. 558,025 shares of the company's stock traded hands, compared to its average volume of 607,501. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.35 and a quick ratio of 0.86. The firm's fifty day moving average price is $8.98 and its 200 day moving average price is $10.04. Ramaco Resources, Inc. has a twelve month low of $6.30 and a twelve month high of $15.49. The company has a market cap of $403.76 million, a PE ratio of 13.98 and a beta of 1.28.

Ramaco Resources (NASDAQ:METC - Get Free Report) last announced 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 net margin of 5.35% and a return on equity of 10.17%. The firm had revenue of $115.61 million during the quarter, compared to the consensus estimate of $137.10 million. During the same period last year, the firm posted $0.23 EPS. The firm's quarterly revenue was down 22.0% on a year-over-year basis. Analysts forecast that Ramaco Resources, Inc. will post 0.05 earnings per share for the current year.

Ramaco Resources Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be issued a dividend of $0.0688 per share. This represents a $0.28 annualized dividend and a yield of 3.03%. The ex-dividend date is Friday, May 30th. Ramaco Resources's dividend payout ratio is currently -337.50%.

Insider Activity at Ramaco Resources

In other Ramaco Resources news, Director Peter A. Leidel sold 180,936 shares of the business's stock in a transaction dated 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 completion of the transaction, the director now directly owns 708,001 shares of the company's stock, valued at approximately $6,244,568.82. The trade was a 20.35% decrease in their ownership of the stock. 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 83,871 shares of the business's stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $8.61, for a total transaction of $722,129.31. Following the sale, the insider now directly owns 1,059,909 shares of the company's stock, valued at approximately $9,125,816.49. This trade represents a 7.33% 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 in the last ninety 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.