Wedge Capital Management L L P NC Sells 46,771 Shares of Ramaco Resources, Inc. (NASDAQ:METC)

Wedge Capital Management L L P NC cut its holdings in shares of Ramaco Resources, Inc. (NASDAQ:METC - Free Report) by 20.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 178,701 shares of the energy company's stock after selling 46,771 shares during the period. Wedge Capital Management L L P NC owned approximately 0.41% of Ramaco Resources worth $2,091,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Innealta Capital LLC purchased a new stake in Ramaco Resources during the second quarter valued at $28,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Ramaco Resources during the 1st quarter valued at about $93,000. Global Trust Asset Management LLC lifted its stake in shares of Ramaco Resources by 2,071.7% in the 1st quarter. Global Trust Asset Management LLC now owns 7,058 shares of the energy company's stock worth $119,000 after purchasing an additional 6,733 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Ramaco Resources in the second quarter worth approximately $94,000. Finally, Koss Olinger Consulting LLC bought a new stake in Ramaco Resources during the second quarter valued at approximately $134,000. Hedge funds and other institutional investors own 74.49% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on METC. Benchmark reaffirmed a "buy" rating and set a $20.00 price objective on shares of Ramaco Resources in a research report on Thursday, August 29th. B. Riley dropped their price target on shares of Ramaco Resources from $19.00 to $18.00 and set a "buy" rating for the company in a research report on Tuesday, September 17th.

Ramaco Resources Price Performance

Shares of NASDAQ:METC traded down $0.19 during trading on Thursday, hitting $10.80. 333,160 shares of the company's stock were exchanged, compared to its average volume of 700,714. The business's 50-day simple moving average is $11.28 and its 200 day simple moving average is $13.17. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.33 and a quick ratio of 0.90. Ramaco Resources, Inc. has a 52-week low of $9.03 and a 52-week high of $22.70. The company has a market cap of $478.04 million, a price-to-earnings ratio of 9.26 and a beta of 1.05.

Ramaco Resources (NASDAQ:METC - Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The energy company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.23. Ramaco Resources had a net margin of 7.95% and a return on equity of 16.30%. The firm had revenue of $155.32 million for the quarter, compared to analysts' expectations of $141.66 million. As a group, equities analysts predict that Ramaco Resources, Inc. will post 0.88 EPS for the current year.

Ramaco Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a dividend of $0.138 per share. This represents a $0.55 annualized dividend and a dividend yield of 5.11%. The ex-dividend date of this dividend was Friday, August 30th. Ramaco Resources's dividend payout ratio (DPR) is presently 47.01%.

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.