New York State Common Retirement Fund Boosts Stock Holdings in Ramaco Resources, Inc. (NASDAQ:METC)

New York State Common Retirement Fund lifted its position in Ramaco Resources, Inc. (NASDAQ:METC) by 372.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,491 shares of the energy company’s stock after acquiring an additional 22,463 shares during the quarter. New York State Common Retirement Fund owned approximately 0.05% of Ramaco Resources worth $489,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brandywine Global Investment Management LLC bought a new stake in Ramaco Resources in the 3rd quarter worth about $1,450,000. Jump Financial LLC bought a new position in shares of Ramaco Resources in the third quarter valued at approximately $397,000. Swiss National Bank increased its position in shares of Ramaco Resources by 9.3% during the third quarter. Swiss National Bank now owns 63,500 shares of the energy company’s stock valued at $698,000 after acquiring an additional 5,400 shares during the last quarter. Global Retirement Partners LLC bought a new stake in Ramaco Resources during the fourth quarter worth $36,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Ramaco Resources in the third quarter worth $145,000. Hedge funds and other institutional investors own 74.49% of the company’s stock.

Ramaco Resources Trading Up 1.8 %

Shares of METC opened at $13.17 on Wednesday. The firm has a market cap of $582.94 million, a P/E ratio of 7.57 and a beta of 1.15. Ramaco Resources, Inc. has a fifty-two week low of $7.26 and a fifty-two 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. The business has a 50-day moving average of $16.21 and a 200 day moving average of $16.96.

Ramaco Resources (NASDAQ:METC) last posted its earnings results on Thursday, March 7th. The energy company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.07). The business had revenue of $202.73 million during the quarter, compared to analysts’ expectations of $182.60 million. Ramaco Resources had a return on equity of 24.28% and a net margin of 11.87%. As a group, research analysts forecast that Ramaco Resources, Inc. will post 1.5 EPS for the current year.

Ramaco Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 15th. Shareholders of record on Saturday, June 1st will be issued a dividend of $0.138 per share. The ex-dividend date is Friday, May 31st. This represents a $0.55 dividend on an annualized basis and a yield of 4.19%. Ramaco Resources’s payout ratio is 31.61%.

Wall Street Analysts Forecast Growth

METC has been the topic of a number of recent analyst reports. UBS Group began coverage on Ramaco Resources in a research note on Tuesday, January 16th. They set a “neutral” rating and a $21.00 target price on the stock. B. Riley lowered their price objective on shares of Ramaco Resources from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. Finally, Benchmark reduced their target price on shares of Ramaco Resources from $24.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, May 10th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.50.

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.