Franklin Resources Inc. Has $281,000 Position in Ramaco Resources, Inc. (NASDAQ:METC)

Franklin Resources Inc. raised its holdings in Ramaco Resources, Inc. (NASDAQ:METC) by 28.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,330 shares of the energy company’s stock after acquiring an additional 5,561 shares during the quarter. Franklin Resources Inc.’s holdings in Ramaco Resources were worth $281,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Pingora Partners LLC grew its holdings in Ramaco Resources by 330.2% during the third quarter. Pingora Partners LLC now owns 3,700 shares of the energy company’s stock valued at $43,000 after purchasing an additional 2,840 shares during the last quarter. Point72 DIFC Ltd acquired a new position in Ramaco Resources in the 3rd quarter valued at $45,000. Segall Bryant & Hamill LLC raised its holdings in Ramaco Resources by 1.5% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 310,688 shares of the energy company’s stock worth $3,635,000 after acquiring an additional 4,460 shares during the period. Empowered Funds LLC lifted its position in Ramaco Resources by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 115,017 shares of the energy company’s stock worth $1,346,000 after acquiring an additional 5,762 shares during the last quarter. Finally, Exchange Traded Concepts LLC boosted its holdings in Ramaco Resources by 18.2% during the third quarter. Exchange Traded Concepts LLC now owns 45,889 shares of the energy company’s stock valued at $537,000 after acquiring an additional 7,068 shares during the period. 74.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, B. Riley dropped their target price on shares of Ramaco Resources from $19.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th.

Ramaco Resources Stock Up 1.1 %

NASDAQ:METC opened at $10.26 on Thursday. The stock’s fifty day simple moving average is $11.54 and its 200-day simple moving average is $11.91. The firm has a market capitalization of $538.95 million, a P/E ratio of 15.78 and a beta of 1.14. 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, Inc. has a 12-month low of $9.03 and a 12-month high of $22.70.

Ramaco Resources (NASDAQ:METC) last announced its quarterly earnings results on Monday, November 4th. The energy company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The business had revenue of $167.40 million during the quarter, compared to the consensus estimate of $156.41 million. Ramaco Resources had a return on equity of 10.17% and a net margin of 5.35%. The firm’s revenue was down 10.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.45 earnings per share. Equities research analysts expect that Ramaco Resources, Inc. will post 0.86 earnings per share for the current year.

Ramaco Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a dividend of $0.1375 per share. This represents a $0.55 dividend on an annualized basis and a dividend yield of 5.36%. The ex-dividend date was Monday, December 2nd. Ramaco Resources’s payout ratio is presently 84.62%.

About Ramaco Resources

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.