668,812 Shares in Ramaco Resources, Inc. (NASDAQ:METC) Purchased by CenterBook Partners LP

CenterBook Partners LP bought a new position in shares of Ramaco Resources, Inc. (NASDAQ:METC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 668,812 shares of the energy company's stock, valued at approximately $6,862,000. CenterBook Partners LP owned about 1.27% of Ramaco Resources at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in Ramaco Resources during the 4th quarter valued at approximately $487,000. Renaissance Technologies LLC grew its stake in shares of Ramaco Resources by 31.1% in the fourth quarter. Renaissance Technologies LLC now owns 119,800 shares of the energy company's stock worth $1,229,000 after acquiring an additional 28,400 shares during the last quarter. Legal & General Group Plc increased its position in Ramaco Resources by 15.3% during the fourth quarter. Legal & General Group Plc now owns 13,752 shares of the energy company's stock worth $141,000 after acquiring an additional 1,822 shares during the period. Wells Fargo & Company MN raised its stake in Ramaco Resources by 39.0% during the 4th quarter. Wells Fargo & Company MN now owns 797,283 shares of the energy company's stock valued at $8,180,000 after purchasing an additional 223,682 shares during the last quarter. Finally, Discovery Capital Management LLC CT bought a new stake in Ramaco Resources in the 4th quarter valued at $9,289,000. 74.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on METC shares. Jefferies Financial Group dropped their price objective on shares of Ramaco Resources from $19.00 to $13.00 and set a "buy" rating for the company in a research note on Monday, January 6th. B. Riley lowered their price objective on Ramaco Resources from $18.00 to $14.00 and set a "buy" rating on the stock in a research note on Friday. Finally, Benchmark restated a "buy" rating on shares of Ramaco Resources in a research note on Wednesday, March 12th.

Insider Buying and Selling at Ramaco Resources

In other Ramaco Resources news, major shareholder Yorktown Xi Associates Llc sold 89,501 shares of the firm'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 directly owns 1,024,870 shares in the company, valued at approximately $8,291,198.30. This trade represents a 8.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Peter A. Leidel sold 180,936 shares of the company's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $8.82, for a total transaction of $1,595,855.52. Following the completion of the transaction, the director now owns 708,001 shares of the company's stock, valued at $6,244,568.82. This trade represents a 20.35 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 922,582 shares of company stock valued at $7,898,023. 41.20% of the stock is currently owned by insiders.

Ramaco Resources Price Performance

Shares of METC stock traded down $0.28 during trading hours on Monday, reaching $8.42. 462,641 shares of the company were exchanged, compared to its average volume of 588,138. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.35 and a quick ratio of 0.86. The company has a market cap of $454.68 million, a price-to-earnings ratio of 12.95 and a beta of 1.14. The stock's fifty day moving average is $9.01 and its two-hundred day moving average is $10.29. Ramaco Resources, Inc. has a fifty-two week low of $6.30 and a fifty-two week high of $16.92.

Ramaco Resources (NASDAQ:METC - Get Free Report) last released its earnings results on Monday, March 10th. The energy company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.36). The firm had revenue of $170.90 million during the quarter, compared to analyst estimates of $166.59 million. Ramaco Resources had a net margin of 5.35% and a return on equity of 10.17%. The firm's quarterly revenue was down 15.7% on a year-over-year basis. During the same period last year, the business posted $0.24 earnings per share. Sell-side analysts forecast that Ramaco Resources, Inc. will post 0.05 earnings per share for the current fiscal year.

Ramaco Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be paid a dividend of $0.0688 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.27%. Ramaco Resources's dividend payout ratio (DPR) is 245.45%.

Ramaco Resources Company 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.