Harbour Capital Advisors LLC Purchases New Position in Ramaco Resources, Inc. (NASDAQ:METC)

Harbour Capital Advisors LLC purchased a new position in shares of Ramaco Resources, Inc. (NASDAQ:METC - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 52,080 shares of the energy company's stock, valued at approximately $540,000. Harbour Capital Advisors LLC owned about 0.10% of Ramaco Resources at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP bought a new position in Ramaco Resources during the third quarter worth about $22,127,000. Dimensional Fund Advisors LP lifted its holdings in shares of Ramaco Resources by 21.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,380,601 shares of the energy company's stock valued at $17,186,000 after purchasing an additional 245,924 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Ramaco Resources by 231.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 262,354 shares of the energy company's stock valued at $3,070,000 after purchasing an additional 183,163 shares during the period. Marshall Wace LLP increased its stake in Ramaco Resources by 287.2% during the 2nd quarter. Marshall Wace LLP now owns 125,565 shares of the energy company's stock worth $1,563,000 after purchasing an additional 93,139 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in Ramaco Resources by 14.9% during the 2nd quarter. American Century Companies Inc. now owns 694,615 shares of the energy company's stock worth $8,648,000 after purchasing an additional 90,014 shares in the last quarter. Institutional investors own 74.49% of the company's stock.

Ramaco Resources Stock Down 0.6 %

NASDAQ METC traded down $0.06 during trading hours on Tuesday, hitting $9.61. 346,745 shares of the company traded hands, compared to its average volume of 532,906. 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 business's 50-day moving average is $11.46 and its 200-day moving average is $11.77. The stock has a market capitalization of $504.80 million, a price-to-earnings ratio of 14.78 and a beta of 1.18. Ramaco Resources, Inc. has a twelve month low of $8.87 and a twelve month high of $20.70.

Ramaco Resources (NASDAQ:METC - Get Free Report) last released its earnings results on Monday, November 4th. The energy company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The firm had revenue of $167.40 million during the quarter, compared to the consensus estimate 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 in the prior year, the business posted $0.45 earnings per share. Sell-side analysts anticipate that Ramaco Resources, Inc. will post 0.86 earnings per share for the current year.

Ramaco Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a $0.1375 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.55 annualized dividend and a yield of 5.72%. Ramaco Resources's dividend payout ratio is 84.62%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on METC shares. B. Riley reduced their price target on shares of Ramaco Resources from $19.00 to $18.00 and set a "buy" rating for the company in a report on Tuesday, September 17th. Jefferies Financial Group reduced 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.

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.