JPMorgan Chase & Co. Purchases 33,788 Shares of Ramaco Resources, Inc. (NASDAQ:METC)

JPMorgan Chase & Co. raised its position in Ramaco Resources, Inc. (NASDAQ:METC - Free Report) by 97.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,520 shares of the energy company's stock after purchasing an additional 33,788 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.13% of Ramaco Resources worth $802,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Pingora Partners LLC lifted its holdings in shares of Ramaco Resources by 330.2% during the 3rd quarter. Pingora Partners LLC now owns 3,700 shares of the energy company's stock valued at $43,000 after buying an additional 2,840 shares during the last quarter. Point72 DIFC Ltd bought a new stake in Ramaco Resources in the third quarter worth approximately $45,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Ramaco Resources during the 2nd quarter valued at $94,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Ramaco Resources in the 2nd quarter valued at $139,000. Finally, HighTower Advisors LLC bought a new stake in Ramaco Resources in the third quarter worth $148,000. 74.49% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Jefferies Financial Group cut their price objective on Ramaco Resources from $19.00 to $13.00 and set a "buy" rating on the stock in a research note on Monday, January 6th.

Ramaco Resources Stock Performance

Shares of METC traded down $0.45 on Monday, reaching $9.69. 411,421 shares of the stock traded hands, compared to its average volume of 501,195. The firm has a market cap of $509.02 million, a price-to-earnings ratio of 14.91 and a beta of 1.18. 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 stock's 50-day moving average price is $10.97 and its 200-day moving average price is $11.45. Ramaco Resources, Inc. has a 12 month low of $8.87 and a 12 month high of $20.70.

Ramaco Resources (NASDAQ:METC - Get Free Report) last posted its earnings results on Monday, November 4th. The energy company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01). Ramaco Resources had a return on equity of 10.17% and a net margin of 5.35%. The company had revenue of $167.40 million for the quarter, compared to the consensus estimate of $156.41 million. During the same quarter last year, the business earned $0.45 EPS. Ramaco Resources's quarterly revenue was down 10.5% compared to the same quarter last year. Equities 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 was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a $0.1375 dividend. This represents a $0.55 annualized dividend and a yield of 5.68%. The ex-dividend date was Monday, December 2nd. Ramaco Resources's dividend payout ratio 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.