Renaissance Technologies LLC Grows Stock Holdings in Ramaco Resources, Inc. (NASDAQ:METC)

Renaissance Technologies LLC grew its position in shares of Ramaco Resources, Inc. (NASDAQ:METC - Free Report) by 31.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 119,800 shares of the energy company's stock after acquiring an additional 28,400 shares during the quarter. Renaissance Technologies LLC owned about 0.23% of Ramaco Resources worth $1,229,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Barclays PLC lifted its position in Ramaco Resources by 369.7% during the third quarter. Barclays PLC now owns 44,409 shares of the energy company's stock valued at $519,000 after purchasing an additional 34,954 shares during the last quarter. Franklin Resources Inc. raised its holdings in Ramaco Resources by 28.1% during the 3rd quarter. Franklin Resources Inc. now owns 25,330 shares of the energy company's stock valued at $281,000 after buying an additional 5,561 shares during the period. JPMorgan Chase & Co. lifted its position in Ramaco Resources by 97.3% in the third quarter. JPMorgan Chase & Co. now owns 68,520 shares of the energy company's stock worth $802,000 after buying an additional 33,788 shares during the last quarter. Harbour Capital Advisors LLC purchased a new position in Ramaco Resources during the fourth quarter worth $540,000. Finally, Prairiewood Capital LLC purchased a new stake in shares of Ramaco Resources in the fourth quarter valued at $103,000. 74.49% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on METC shares. Jefferies Financial Group reduced their price objective on shares of Ramaco Resources from $19.00 to $13.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. B. Riley dropped their price objective on Ramaco Resources from $18.00 to $14.00 and set a "buy" rating for the company in a report on Friday, April 11th. Finally, Benchmark reaffirmed a "buy" rating on shares of Ramaco Resources in a research report on Wednesday, March 12th.

Ramaco Resources Trading Up 0.5 %

NASDAQ:METC traded up $0.05 during midday trading on Friday, hitting $10.00. The stock had a trading volume of 481,408 shares, compared to its average volume of 608,705. The stock has a 50-day moving average of $8.94 and a 200 day moving average of $10.13. The company has a market capitalization of $540 million, a price-to-earnings ratio of 15.38 and a beta of 1.14. Ramaco Resources, Inc. has a one year low of $6.30 and a one year high of $16.52. 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 (NASDAQ:METC - Get Free Report) last announced its quarterly earnings results on Monday, March 10th. The energy company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.36). Ramaco Resources had a net margin of 5.35% and a return on equity of 10.17%. The firm had revenue of $170.90 million for the quarter, compared to analysts' expectations of $166.59 million. During the same quarter in the prior year, the business posted $0.24 EPS. The business's quarterly revenue was down 15.7% on a year-over-year basis. As a group, sell-side analysts forecast that Ramaco Resources, Inc. will post 0.05 EPS for the current year.

Ramaco Resources Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be issued a dividend of $0.0688 per share. The ex-dividend date is Friday, May 30th. This represents a $0.28 dividend on an annualized basis and a yield of 2.75%. Ramaco Resources's dividend payout ratio is currently 245.45%.

Insider Buying and Selling at Ramaco Resources

In other news, major shareholder Yorktown Energy Partners Xi, L sold 83,871 shares of the stock in a transaction 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 completion of the sale, the insider now owns 1,059,909 shares in the company, valued at approximately $9,125,816.49. This represents a 7.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Peter A. Leidel sold 180,936 shares of the business's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $8.82, for a total value of $1,595,855.52. Following the transaction, the director now owns 708,001 shares in the company, valued at approximately $6,244,568.82. This trade represents a 20.35 % decrease in their ownership of the stock. 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. 41.20% of the stock is currently owned by corporate insiders.

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.