First Trust Advisors LP Raises Stock Position in Ramaco Resources, Inc. (NASDAQ:METC)

First Trust Advisors LP lifted its holdings in shares of Ramaco Resources, Inc. (NASDAQ:METC) by 39.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 25,178 shares of the energy company’s stock after purchasing an additional 7,174 shares during the quarter. First Trust Advisors LP’s holdings in Ramaco Resources were worth $258,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. AlphaQuest LLC acquired a new position in shares of Ramaco Resources during the fourth quarter worth about $50,000. Campbell Capital Management Inc. acquired a new stake in shares of Ramaco Resources in the 4th quarter valued at $51,000. Jones Financial Companies Lllp purchased a new stake in shares of Ramaco Resources during the 4th quarter worth $56,000. Royce & Associates LP acquired a new position in shares of Ramaco Resources during the fourth quarter worth $94,000. Finally, Prairiewood Capital LLC purchased a new position in Ramaco Resources in the fourth quarter valued at $103,000. Hedge funds and other institutional investors own 74.49% of the company’s stock.

Ramaco Resources Price Performance

METC stock opened at $9.01 on Friday. The stock has a market capitalization of $400.12 million, a price-to-earnings ratio of 13.86 and a beta of 1.28. Ramaco Resources, Inc. has a 52-week low of $6.30 and a 52-week high of $15.49. The company has a quick ratio of 0.86, a current ratio of 1.35 and a debt-to-equity ratio of 0.23. The stock’s fifty day simple moving average is $8.99 and its 200-day simple moving average is $10.09.

Ramaco Resources (NASDAQ:METC) last posted its quarterly earnings data on Monday, March 10th. The energy company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.36). The firm 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 company’s revenue for the quarter was down 15.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.24 EPS. Equities research analysts expect that Ramaco Resources, Inc. will post 0.05 EPS for the current year.

Ramaco Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.0688 per share. This represents a $0.28 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend is Friday, May 30th. Ramaco Resources’s payout ratio is currently 245.45%.

Wall Street Analysts Forecast Growth

METC has been the topic of several research reports. B. Riley dropped their price objective on Ramaco Resources from $18.00 to $14.00 and set a “buy” rating on the stock in a report on Friday, April 11th. Benchmark restated a “buy” rating on shares of Ramaco Resources in a research note on Wednesday, March 12th.

Insiders Place Their Bets

In related news, Director Peter A. Leidel sold 180,936 shares of Ramaco Resources stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $8.82, for a total value of $1,595,855.52. Following the transaction, the director now owns 708,001 shares of the company’s stock, valued at approximately $6,244,568.82. This trade represents a 20.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Yorktown Xi Associates Llc sold 89,501 shares of the business’s stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $8.09, for a total transaction of $724,063.09. Following the sale, the insider now owns 1,024,870 shares in the company, valued at $8,291,198.30. This represents a 8.03 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 922,582 shares of company stock worth $7,898,023. 41.20% of the stock is owned by company 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.