47,487 Shares in Ramaco Resources, Inc. (NASDAQ:METC) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new stake in Ramaco Resources, Inc. (NASDAQ:METC - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 47,487 shares of the energy company's stock, valued at approximately $487,000. Raymond James Financial Inc. owned about 0.09% of Ramaco Resources at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Renaissance Technologies LLC raised its holdings in Ramaco Resources by 31.1% during the fourth quarter. Renaissance Technologies LLC now owns 119,800 shares of the energy company's stock valued at $1,229,000 after buying an additional 28,400 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Ramaco Resources by 15.3% in the 4th quarter. Legal & General Group Plc now owns 13,752 shares of the energy company's stock valued at $141,000 after acquiring an additional 1,822 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Ramaco Resources by 39.0% in the 4th quarter. Wells Fargo & Company MN now owns 797,283 shares of the energy company's stock valued at $8,180,000 after acquiring an additional 223,682 shares in the last quarter. Discovery Capital Management LLC CT acquired a new stake in Ramaco Resources in the 4th quarter worth approximately $9,289,000. Finally, EntryPoint Capital LLC bought a new stake in Ramaco Resources during the fourth quarter worth approximately $168,000. Institutional investors and hedge funds own 74.49% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on METC. B. Riley dropped 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 lowered 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 note on Tuesday.

Ramaco Resources Stock Performance

METC stock traded down $0.43 during midday trading on Wednesday, hitting $9.47. The stock had a trading volume of 368,419 shares, compared to its average volume of 605,991. Ramaco Resources, Inc. has a 52 week low of $6.30 and a 52 week high of $15.49. The company has a current ratio of 1.35, a quick ratio of 0.86 and a debt-to-equity ratio of 0.23. The stock has a 50-day simple moving average of $9.01 and a 200 day simple moving average of $10.08. The firm has a market capitalization of $420.50 million, a price-to-earnings ratio of 14.57 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) EPS for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $137.10 million. During the same quarter last year, the company earned $0.23 earnings per share. The company's revenue for the quarter was down 22.0% compared to the same quarter last year. As a group, equities research analysts anticipate 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. Shareholders of record on Friday, May 30th will be given a $0.0688 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date is Friday, May 30th. Ramaco Resources's dividend payout ratio (DPR) is 245.45%.

Insiders Place Their Bets

In related news, major shareholder Yorktown Energy Partners Xi, L sold 98,274 shares of the firm's 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 completion of the sale, the insider now directly owns 1,052,404 shares of the company's stock, valued at $9,313,775.40. This trade represents a 8.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Peter A. Leidel sold 180,936 shares of the company's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $8.82, for a total transaction 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 position. The disclosure for this sale can be found here. Insiders sold 922,582 shares of company stock worth $7,898,023 over the last three months. 41.20% of the stock is currently owned by corporate insiders.

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.