Discovery Capital Management LLC CT Buys New Shares in Ramaco Resources, Inc. (NASDAQ:METC)

Discovery Capital Management LLC CT acquired a new position in Ramaco Resources, Inc. (NASDAQ:METC - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 905,372 shares of the energy company's stock, valued at approximately $9,289,000. Discovery Capital Management LLC CT owned approximately 1.72% of Ramaco Resources at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in METC. Harbour Capital Advisors LLC purchased a new stake in shares of Ramaco Resources in the fourth quarter valued at approximately $540,000. Barclays PLC grew its stake in Ramaco Resources by 369.7% in the 3rd quarter. Barclays PLC now owns 44,409 shares of the energy company's stock valued at $519,000 after acquiring an additional 34,954 shares during the period. JPMorgan Chase & Co. increased its holdings in Ramaco Resources by 97.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 68,520 shares of the energy company's stock worth $802,000 after acquiring an additional 33,788 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Ramaco Resources by 231.3% during 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 period. Finally, Principal Financial Group Inc. raised its position in Ramaco Resources by 11.0% during the fourth quarter. Principal Financial Group Inc. now owns 38,017 shares of the energy company's stock worth $390,000 after acquiring an additional 3,754 shares during the period. 74.49% of the stock is owned by hedge funds and other institutional investors.

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Insiders Place Their Bets

In other Ramaco Resources news, major shareholder Yorktown Xi Associates Llc sold 89,501 shares of the firm's stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $8.09, for a total transaction of $724,063.09. Following the completion of the sale, the insider now owns 1,024,870 shares of the company's stock, valued at $8,291,198.30. This trade represents a 8.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Yorktown Energy Partners Xi, L sold 83,871 shares of Ramaco Resources stock in a transaction on Friday, March 21st. The shares were sold at an average price of $8.61, for a total value of $722,129.31. Following the completion of the sale, the insider now owns 1,059,909 shares in the company, valued at $9,125,816.49. This represents a 7.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 922,582 shares of company stock valued at $7,898,023 in the last three months. 41.20% of the stock is currently owned by insiders.

Ramaco Resources Price Performance

Shares of NASDAQ METC traded down $0.82 during mid-day trading on Friday, reaching $6.84. The company's stock had a trading volume of 1,140,271 shares, compared to its average volume of 573,919. The stock has a 50-day moving average of $9.28 and a two-hundred day moving average of $10.42. 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 $369.36 million, a P/E ratio of 10.52 and a beta of 1.14. Ramaco Resources, Inc. has a 1-year low of $6.51 and a 1-year 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 earnings per share for the quarter, missing analysts' consensus estimates of $0.42 by ($0.36). Ramaco Resources had a return on equity of 10.17% and a net margin of 5.35%. The business had revenue of $170.90 million during the quarter, compared to analysts' expectations of $166.59 million. During the same period last year, the business earned $0.24 earnings per share. The company's revenue for the quarter was down 15.7% compared to the same quarter last year. On average, equities research analysts anticipate that Ramaco Resources, Inc. will post 0.05 EPS for the current fiscal year.

Ramaco Resources Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be issued a $0.0688 dividend. This represents a $0.28 annualized dividend and a yield of 4.02%. Ramaco Resources's payout ratio is currently 245.45%.

Wall Street Analyst Weigh In

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

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.