Lunt Capital Management Inc. Grows Stock Position in Ramaco Resources, Inc. (NASDAQ:METC)

Lunt Capital Management Inc. boosted its stake in shares of Ramaco Resources, Inc. (NASDAQ:METC - Free Report) by 619.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 71,900 shares of the energy company's stock after buying an additional 61,900 shares during the period. Lunt Capital Management Inc. owned approximately 0.16% of Ramaco Resources worth $841,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of METC. Innealta Capital LLC bought a new position in Ramaco Resources in the 2nd quarter valued at $28,000. Allspring Global Investments Holdings LLC bought a new position in Ramaco Resources in the 1st quarter valued at $93,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Ramaco Resources in the 2nd quarter valued at $94,000. Koss Olinger Consulting LLC bought a new position in Ramaco Resources in the 2nd quarter valued at $134,000. Finally, The Manufacturers Life Insurance Company bought a new position in Ramaco Resources in the 2nd quarter valued at $139,000. Hedge funds and other institutional investors own 74.49% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on METC. Benchmark reaffirmed a "buy" rating and issued 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 Ramaco Resources from $19.00 to $18.00 and set a "buy" rating on the stock in a research report on Tuesday, September 17th.

Ramaco Resources Stock Up 0.9 %

Shares of METC traded up $0.09 during midday trading on Monday, reaching $10.30. 393,304 shares of the stock were exchanged, compared to its average volume of 692,047. Ramaco Resources, Inc. has a 52 week low of $9.03 and a 52 week high of $22.70. The company has a current ratio of 1.33, a quick ratio of 0.90 and a debt-to-equity ratio of 0.23. The company's 50 day moving average is $10.96 and its two-hundred day moving average is $12.87. The company has a market capitalization of $455.91 million, a P/E ratio of 8.81 and a beta of 1.05.

Ramaco Resources (NASDAQ:METC - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The energy company reported $0.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.15) by $0.23. Ramaco Resources had a return on equity of 16.30% and a net margin of 7.95%. The business had revenue of $155.32 million for the quarter, compared to the consensus estimate of $141.66 million. On average, sell-side analysts anticipate that Ramaco Resources, Inc. will post 0.88 earnings per share for the current year.

Ramaco Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a dividend of $0.138 per share. This represents a $0.55 dividend on an annualized basis and a yield of 5.36%. The ex-dividend date of this dividend was Friday, August 30th. Ramaco Resources's payout ratio is currently 47.01%.

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.