HighTower Advisors LLC Makes New Investment in Ramaco Resources, Inc. (NASDAQ:METC)

HighTower Advisors LLC acquired a new stake in Ramaco Resources, Inc. (NASDAQ:METC) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,590 shares of the energy company’s stock, valued at approximately $148,000.

Several other institutional investors also recently added to or reduced their stakes in METC. Innealta Capital LLC purchased a new position in shares of Ramaco Resources during the second quarter worth about $28,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Ramaco Resources in the 2nd quarter valued at approximately $94,000. Koss Olinger Consulting LLC acquired a new stake in Ramaco Resources in the 2nd quarter valued at about $134,000. The Manufacturers Life Insurance Company acquired a new stake in Ramaco Resources during the 2nd quarter valued at $139,000. Finally, WINTON GROUP Ltd acquired a new position in Ramaco Resources in the 2nd quarter valued at about $229,000. Institutional investors and hedge funds own 74.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on METC shares. B. Riley reduced their target price on Ramaco Resources from $19.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Benchmark reissued a “buy” rating and issued a $20.00 price objective on shares of Ramaco Resources in a research report on Thursday, August 29th.

Ramaco Resources Stock Performance

Shares of METC stock opened at $10.18 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.86 and a current ratio of 1.35. The stock has a market capitalization of $534.75 million, a price-to-earnings ratio of 15.66 and a beta of 1.14. Ramaco Resources, Inc. has a one year low of $9.03 and a one year high of $22.70. The company’s 50-day simple moving average is $11.59 and its 200-day simple moving average is $12.00.

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). 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 during the quarter, compared to the consensus estimate of $156.41 million. During the same period last year, the business posted $0.45 EPS. The company’s revenue for the quarter was down 10.5% on a year-over-year basis. Equities analysts anticipate that Ramaco Resources, Inc. will post 0.86 earnings per share for the current fiscal year.

Ramaco Resources Cuts Dividend

The business 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 of this dividend was Monday, December 2nd. This represents a $0.55 dividend on an annualized basis and a yield of 5.40%. Ramaco Resources’s dividend payout ratio 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.