Raymond James & Associates Takes $290,000 Position in Ramaco Resources, Inc. (NASDAQ:METC)

Raymond James & Associates purchased a new position in Ramaco Resources, Inc. (NASDAQ:METC) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 16,871 shares of the energy company’s stock, valued at approximately $290,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of METC. Allspring Global Investments Holdings LLC lifted its position in shares of Ramaco Resources by 79.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,432 shares of the energy company’s stock valued at $82,000 after acquiring an additional 3,284 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Ramaco Resources by 51.9% during the third quarter. Principal Financial Group Inc. now owns 20,221 shares of the energy company’s stock valued at $222,000 after purchasing an additional 6,906 shares during the last quarter. Jump Financial LLC acquired a new position in shares of Ramaco Resources in the 3rd quarter valued at $397,000. Swiss National Bank increased its stake in Ramaco Resources by 9.3% in the 3rd quarter. Swiss National Bank now owns 63,500 shares of the energy company’s stock worth $698,000 after purchasing an additional 5,400 shares in the last quarter. Finally, Tejara Capital Ltd raised its holdings in Ramaco Resources by 6.0% during the 3rd quarter. Tejara Capital Ltd now owns 141,694 shares of the energy company’s stock worth $1,584,000 after buying an additional 7,972 shares during the period. 74.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. B. Riley dropped their target price on shares of Ramaco Resources from $25.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday, April 15th. UBS Group assumed coverage on shares of Ramaco Resources in a research report on Tuesday, January 16th. They set a “neutral” rating and a $21.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $17.90.

Ramaco Resources Stock Performance

METC stock opened at $16.56 on Tuesday. The firm has a 50 day simple moving average of $16.96 and a 200 day simple moving average of $16.71. The stock has a market cap of $733.00 million, a P/E ratio of 9.52 and a beta of 1.15. Ramaco Resources, Inc. has a 52 week low of $7.26 and a 52 week high of $22.70. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.90 and a current ratio of 1.12.

Ramaco Resources (NASDAQ:METC) last announced its quarterly earnings data on Thursday, March 7th. The energy company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.07). Ramaco Resources had a return on equity of 24.28% and a net margin of 11.87%. The firm had revenue of $202.73 million for the quarter, compared to analysts’ expectations of $182.60 million. Research analysts anticipate that Ramaco Resources, Inc. will post 1.59 earnings per share for the current fiscal year.

Ramaco Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $0.138 dividend. This represents a $0.55 annualized dividend and a yield of 3.33%. This is an increase from Ramaco Resources’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Thursday, February 29th. Ramaco Resources’s payout ratio is currently 31.61%.

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.