Wexford Capital LP Takes $825,000 Position in Ramaco Resources, Inc. (NASDAQ:METC)

Wexford Capital LP purchased a new stake in shares of Ramaco Resources, Inc. (NASDAQ:METC - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 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 quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. JPMorgan Chase & Co. increased its stake in shares of Ramaco Resources by 97.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 68,520 shares of the energy company's stock worth $802,000 after purchasing an additional 33,788 shares in the last quarter. Prairiewood Capital LLC acquired a new position in shares of Ramaco Resources during the fourth quarter worth about $103,000. SG Americas Securities LLC grew its stake in shares of Ramaco Resources by 68.8% in the fourth quarter. SG Americas Securities LLC now owns 16,076 shares of the energy company's stock valued at $165,000 after buying an additional 6,555 shares in the last quarter. Arkfeld Wealth Strategies L.L.C. grew its stake in shares of Ramaco Resources by 0.8% in the fourth quarter. Arkfeld Wealth Strategies L.L.C. now owns 232,755 shares of the energy company's stock valued at $2,251,000 after buying an additional 1,748 shares in the last quarter. Finally, DAVENPORT & Co LLC grew its stake in shares of Ramaco Resources by 39.5% in the fourth quarter. DAVENPORT & Co LLC now owns 29,721 shares of the energy company's stock valued at $305,000 after buying an additional 8,416 shares in the last quarter. 74.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Ramaco Resources news, major shareholder Yorktown Energy Partners Xi, L sold 98,274 shares of Ramaco Resources stock in a transaction on Monday, March 24th. The stock was sold at an average price of $8.85, for a total transaction of $869,724.90. Following the sale, the insider now owns 1,052,404 shares of the company's stock, valued at $9,313,775.40. The trade was a 8.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Peter A. Leidel sold 180,936 shares of Ramaco Resources 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 sale, the director now directly owns 708,001 shares in the company, valued at $6,244,568.82. The trade was a 20.35% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 922,582 shares of company stock valued at $7,898,023. Insiders own 36.20% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on METC. Wall Street Zen lowered Ramaco Resources from a "hold" rating to a "sell" rating in a research note on Thursday. Benchmark lowered their price objective 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. Finally, B. Riley lowered their price objective 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.

Ramaco Resources Stock Performance

Shares of METC traded up $0.23 during mid-day trading on Friday, hitting $9.07. The stock had a trading volume of 485,966 shares, compared to its average volume of 607,591. The company has a market cap of $496.17 million, a PE ratio of 13.95 and a beta of 1.28. The company's fifty day simple moving average is $8.96 and its two-hundred day simple moving average is $10.02. 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 fifty-two week low of $6.30 and a fifty-two week high of $15.49.

Ramaco Resources (NASDAQ:METC - Get Free Report) last issued 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. The company had revenue of $115.61 million during the quarter, compared to analyst estimates of $137.10 million. Ramaco Resources had a return on equity of 10.17% and a net margin of 5.35%. The business's revenue was down 22.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.23 EPS. On average, equities analysts expect 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 issued a $0.0688 dividend. This represents a $0.28 annualized dividend and a dividend yield of 3.03%. The ex-dividend date of this dividend is Friday, May 30th. Ramaco Resources's dividend payout ratio (DPR) is -337.50%.

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.