Graham Capital Management L.P. Takes Position in Ramaco Resources, Inc. (NASDAQ:METC)

Graham Capital Management L.P. acquired a new stake in shares of Ramaco Resources, Inc. (NASDAQ:METC - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 349,700 shares of the energy company's stock, valued at approximately $3,588,000. Graham Capital Management L.P. owned about 0.67% of Ramaco Resources at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Discovery Capital Management LLC CT bought a new stake in Ramaco Resources in the fourth quarter valued at $9,289,000. CenterBook Partners LP bought a new position in Ramaco Resources in the 4th quarter valued at approximately $6,862,000. Wells Fargo & Company MN raised its position in Ramaco Resources by 39.0% in the 4th 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 last quarter. Bank of New York Mellon Corp lifted its position in Ramaco Resources by 42.1% during the fourth quarter. Bank of New York Mellon Corp now owns 524,009 shares of the energy company's stock valued at $5,376,000 after purchasing an additional 155,169 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Ramaco Resources by 8.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,745,409 shares of the energy company's stock worth $17,907,000 after buying an additional 142,423 shares during the last quarter. Hedge funds and other institutional investors own 74.49% of the company's stock.

Insider Buying and Selling

In other news, major shareholder Yorktown Xi Associates Llc sold 89,501 shares of the business's stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $8.09, for a total transaction of $724,063.09. Following the completion of the sale, the insider now directly owns 1,024,870 shares of the company's stock, valued at $8,291,198.30. The trade was a 8.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Peter A. Leidel sold 180,936 shares of the firm's stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $8.82, for a total transaction of $1,595,855.52. Following the completion of the transaction, the director now directly owns 708,001 shares in the company, valued at approximately $6,244,568.82. This represents a 20.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 922,582 shares of company stock worth $7,898,023 in the last ninety days. 41.20% of the stock is owned by corporate insiders.

Ramaco Resources Stock Performance

Shares of METC traded up $0.24 during mid-day trading on Friday, reaching $9.35. The company had a trading volume of 170,835 shares, compared to its average volume of 606,725. Ramaco Resources, Inc. has a 52-week low of $6.30 and a 52-week high of $15.49. The company has a quick ratio of 0.86, a current ratio of 1.35 and a debt-to-equity ratio of 0.23. The stock has a 50 day moving average of $9.04 and a two-hundred day moving average of $10.06. The stock has a market capitalization of $414.99 million, a P/E ratio of 14.34 and a beta of 1.28.

Ramaco Resources (NASDAQ:METC - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The energy company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.29) by $0.10. The business 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% compared to the same quarter last year. During the same period in the prior year, the business earned $0.23 earnings per share. On average, analysts expect that Ramaco Resources, Inc. will post 0.05 earnings per share for the current year.

Ramaco Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be given a dividend of $0.0688 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.28 annualized dividend and a dividend yield of 2.94%. Ramaco Resources's dividend payout ratio (DPR) is currently 245.45%.

Wall Street Analyst Weigh In

METC has been the topic of several recent analyst reports. Benchmark decreased their price objective 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. B. Riley reduced their target price on Ramaco Resources from $18.00 to $14.00 and set a "buy" rating on the stock in a research note on Friday, April 11th.

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.