Geode Capital Management LLC Lowers Holdings in Ramaco Resources, Inc. (NASDAQ:METC)

Geode Capital Management LLC reduced its position in shares of Ramaco Resources, Inc. (NASDAQ:METC) by 4.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 598,502 shares of the energy company’s stock after selling 28,078 shares during the period. Geode Capital Management LLC’s holdings in Ramaco Resources were worth $7,004,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Pingora Partners LLC boosted its stake in shares of 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 in the last quarter. Point72 DIFC Ltd purchased a new stake in Ramaco Resources during the third quarter worth $45,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Ramaco Resources during the 2nd quarter valued at $94,000. Koss Olinger Consulting LLC purchased a new position in shares of Ramaco Resources in the 2nd quarter valued at $134,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Ramaco Resources in the 2nd quarter worth $139,000. 74.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, B. Riley cut their price objective 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 Down 3.3 %

NASDAQ:METC opened at $10.36 on Friday. The company has a current ratio of 1.35, a quick ratio of 0.86 and a debt-to-equity ratio of 0.23. Ramaco Resources, Inc. has a twelve month low of $9.03 and a twelve month high of $22.70. The company has a market cap of $544.20 million, a PE ratio of 15.94 and a beta of 1.14. The company’s 50 day moving average is $11.55 and its two-hundred day moving average is $11.89.

Ramaco Resources (NASDAQ:METC) last announced its quarterly earnings data on Monday, November 4th. The energy company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). The company had revenue of $167.40 million for the quarter, compared to analysts’ expectations of $156.41 million. Ramaco Resources had a net margin of 5.35% and a return on equity of 10.17%. Ramaco Resources’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same period last year, the firm earned $0.45 earnings per share. Analysts anticipate that Ramaco Resources, Inc. will post 0.86 EPS for the current 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 issued a dividend of $0.1375 per share. This represents a $0.55 dividend on an annualized basis and a dividend yield of 5.31%. The ex-dividend date was Monday, December 2nd. Ramaco Resources’s dividend payout ratio (DPR) is 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.