Bank of New York Mellon Corp Purchases 155,169 Shares of Ramaco Resources, Inc. (NASDAQ:METC)

Bank of New York Mellon Corp lifted its holdings in shares of Ramaco Resources, Inc. (NASDAQ:METC - Free Report) by 42.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 524,009 shares of the energy company's stock after acquiring an additional 155,169 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.00% of Ramaco Resources worth $5,376,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in METC. New York State Common Retirement Fund raised its holdings in Ramaco Resources by 12.5% in the 4th quarter. New York State Common Retirement Fund now owns 17,988 shares of the energy company's stock worth $185,000 after purchasing an additional 2,000 shares in the last quarter. Acuitas Investments LLC increased its position in shares of Ramaco Resources by 153.1% during the fourth quarter. Acuitas Investments LLC now owns 152,097 shares of the energy company's stock valued at $1,561,000 after buying an additional 92,008 shares during the period. Principal Financial Group Inc. raised its stake in Ramaco Resources by 11.0% in the fourth quarter. Principal Financial Group Inc. now owns 38,017 shares of the energy company's stock worth $390,000 after buying an additional 3,754 shares in the last quarter. Empowered Funds LLC lifted its holdings in Ramaco Resources by 5.1% in the fourth quarter. Empowered Funds LLC now owns 120,887 shares of the energy company's stock worth $1,240,000 after buying an additional 5,870 shares during the period. Finally, DAVENPORT & Co LLC boosted its position in Ramaco Resources by 39.5% during the 4th quarter. DAVENPORT & Co LLC now owns 29,721 shares of the energy company's stock valued at $305,000 after acquiring an additional 8,416 shares in the last quarter. Hedge funds and other institutional investors own 74.49% of the company's stock.

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Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Benchmark restated a "buy" rating on shares of Ramaco Resources in a research note on Wednesday, March 12th. Jefferies Financial Group lowered their price objective on Ramaco Resources from $19.00 to $13.00 and set a "buy" rating for the company in a research report on Monday, January 6th.

Ramaco Resources Stock Down 1.7 %

Shares of NASDAQ METC traded down $0.16 on Friday, reaching $8.80. 794,136 shares of the company's stock traded hands, compared to its average volume of 566,619. The business's 50 day simple moving average is $9.58 and its two-hundred day simple moving average is $10.57. Ramaco Resources, Inc. has a 12 month low of $8.17 and a 12 month high of $17.23. The company has a market cap of $461.99 million, a price-to-earnings ratio of 13.53 and a beta of 1.17. The company has a quick ratio of 0.86, a current ratio of 1.35 and a debt-to-equity ratio of 0.23.

Ramaco Resources (NASDAQ:METC - Get Free Report) last announced 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). Ramaco Resources had a net margin of 5.35% and a return on equity of 10.17%. The company had revenue of $170.90 million for the quarter, compared to analysts' expectations of $166.59 million. During the same quarter in the previous year, the firm posted $0.24 EPS. The firm's quarterly revenue was down 15.7% compared to the same quarter last year. As a group, equities research analysts forecast that Ramaco Resources, Inc. will post 0.05 EPS for the current fiscal year.

Ramaco Resources Cuts Dividend

The company 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 $0.0688 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 3.13%. Ramaco Resources's payout ratio is 500.00%.

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.