Vanguard Group Inc. Reduces Position in Ramaco Resources, Inc. (NASDAQ:METC)

Vanguard Group Inc. decreased its position in shares of Ramaco Resources, Inc. (NASDAQ:METC - Free Report) by 5.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,602,835 shares of the energy company's stock after selling 84,277 shares during the period. Vanguard Group Inc. owned approximately 3.05% of Ramaco Resources worth $16,445,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in METC. Harbour Capital Advisors LLC purchased a new stake in Ramaco Resources in the fourth quarter worth $540,000. Barclays PLC boosted its holdings in Ramaco Resources by 369.7% in the third quarter. Barclays PLC now owns 44,409 shares of the energy company's stock worth $519,000 after acquiring an additional 34,954 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of 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 purchasing an additional 33,788 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Ramaco Resources by 11.0% in the fourth quarter. Principal Financial Group Inc. now owns 38,017 shares of the energy company's stock worth $390,000 after purchasing an additional 3,754 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in shares of Ramaco Resources in the fourth quarter worth about $224,000. Hedge funds and other institutional investors own 74.49% of the company's stock.

Insider Activity

In related news, major shareholder Yorktown Xi Associates Llc sold 89,501 shares of the firm's stock in a transaction dated 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 in the company, valued at approximately $8,291,198.30. This trade represents a 8.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Yorktown Energy Partners Xi, L sold 83,871 shares of the firm's stock in a transaction dated 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 owns 1,059,909 shares of the company's stock, valued at approximately $9,125,816.49. The trade was 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 worth $7,898,023 over the last three months. Insiders own 41.20% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on METC. Benchmark restated a "buy" rating on shares of Ramaco Resources in a research note on Wednesday, March 12th. B. Riley dropped 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 Friday, April 11th. Finally, Jefferies Financial Group lowered their price target on shares of Ramaco Resources from $19.00 to $13.00 and set a "buy" rating on the stock in a report on Monday, January 6th.

Ramaco Resources Stock Performance

NASDAQ METC traded up $0.26 during mid-day trading on Wednesday, reaching $9.48. 65,165 shares of the stock were exchanged, compared to its average volume of 721,200. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.86 and a current ratio of 1.35. The company has a market capitalization of $511.92 million, a P/E ratio of 14.58 and a beta of 1.14. Ramaco Resources, Inc. has a 1 year low of $6.30 and a 1 year high of $16.61. The business's 50 day moving average is $8.94 and its 200-day moving average is $10.19.

Ramaco Resources (NASDAQ:METC - Get Free Report) last posted its quarterly earnings data on Monday, March 10th. The energy company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.36). The company had revenue of $170.90 million for the quarter, compared to analysts' expectations of $166.59 million. Ramaco Resources had a net margin of 5.35% and a return on equity of 10.17%. The business's revenue for the quarter was down 15.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.24 earnings per share. On average, equities research analysts forecast that Ramaco Resources, Inc. will post 0.05 EPS for the current fiscal year.

Ramaco Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders 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 dividend yield of 2.90%. Ramaco Resources's dividend payout ratio (DPR) is 245.45%.

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.