Verition Fund Management LLC Decreases Stock Position in Ramaco Resources, Inc. (NASDAQ:METC)

Verition Fund Management LLC decreased its stake in shares of Ramaco Resources, Inc. (NASDAQ:METC) by 13.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,265 shares of the energy company’s stock after selling 1,934 shares during the quarter. Verition Fund Management LLC’s holdings in Ramaco Resources were worth $144,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. FMR LLC grew its position in shares of Ramaco Resources by 5.3% during the third quarter. FMR LLC now owns 371,885 shares of the energy company’s stock worth $4,351,000 after buying an additional 18,582 shares in the last quarter. Dynamic Technology Lab Private Ltd lifted its stake in Ramaco Resources by 190.4% in the third quarter. Dynamic Technology Lab Private Ltd now owns 89,958 shares of the energy company’s stock worth $1,053,000 after acquiring an additional 58,980 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Ramaco Resources by 231.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 262,354 shares of the energy company’s stock worth $3,070,000 after acquiring an additional 183,163 shares during the last quarter. Segall Bryant & Hamill LLC grew its holdings in Ramaco Resources by 1.5% during 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 in the last quarter. Finally, Empowered Funds LLC increased its position in shares of Ramaco Resources by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 115,017 shares of the energy company’s stock valued at $1,346,000 after purchasing an additional 5,762 shares during the last quarter. Institutional investors and hedge funds own 74.49% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on METC. Benchmark reaffirmed a “buy” rating and set a $20.00 price objective on shares of Ramaco Resources in a research report on Thursday, August 29th. B. Riley decreased their price target on Ramaco Resources from $19.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, September 17th.

Ramaco Resources Stock Down 4.0 %

METC stock opened at $11.54 on Tuesday. The company’s 50 day moving average is $11.65 and its two-hundred day moving average is $12.14. Ramaco Resources, Inc. has a twelve month low of $9.03 and a twelve month high of $22.70. The company has a current ratio of 1.35, a quick ratio of 0.86 and a debt-to-equity ratio of 0.23. The stock has a market cap of $606.18 million, a P/E ratio of 17.75 and a beta of 1.14.

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

Ramaco Resources Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a $0.1375 dividend. The ex-dividend date was Monday, December 2nd. This represents a $0.55 dividend on an annualized basis and a dividend yield of 4.77%. Ramaco Resources’s dividend payout ratio (DPR) is presently 84.62%.

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.