Raymond James Financial Inc. Acquires New Position in Ramaco Resources, Inc. (NASDAQ:METC)

Raymond James Financial Inc. bought a new position in shares of Ramaco Resources, Inc. (NASDAQ:METC - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 47,487 shares of the energy company's stock, valued at approximately $487,000. Raymond James Financial Inc. owned about 0.09% of Ramaco Resources as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP bought a new stake in Ramaco Resources during the third quarter valued at $22,127,000. Charles Schwab Investment Management Inc. raised its stake 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. Bank of New York Mellon Corp lifted its holdings in Ramaco Resources by 42.1% in the fourth quarter. Bank of New York Mellon Corp now owns 524,009 shares of the energy company's stock worth $5,376,000 after acquiring an additional 155,169 shares during the last quarter. Acuitas Investments LLC boosted its stake in Ramaco Resources by 153.1% in the fourth quarter. Acuitas Investments LLC now owns 152,097 shares of the energy company's stock valued at $1,561,000 after acquiring an additional 92,008 shares during the period. Finally, Harbour Capital Advisors LLC bought a new position in shares of Ramaco Resources during the fourth quarter valued at approximately $540,000. Institutional investors and hedge funds own 74.49% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on METC. 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. Benchmark restated a "buy" rating on shares of Ramaco Resources in a research report on Wednesday, March 12th. Finally, B. Riley cut their price objective on shares of Ramaco Resources from $18.00 to $14.00 and set a "buy" rating on the stock in a research report on Friday.

Ramaco Resources Stock Performance

Shares of METC traded up $0.99 during trading hours on Friday, reaching $8.70. 1,200,567 shares of the company's stock traded hands, compared to its average volume of 588,112. The firm has a market capitalization of $469.80 million, a price-to-earnings ratio of 13.38 and a beta of 1.14. The business's fifty day simple moving average is $9.01 and its two-hundred day simple moving average is $10.30. Ramaco Resources, Inc. has a twelve month low of $6.30 and a twelve month high of $16.92. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.35 and a quick ratio of 0.86.

Ramaco Resources (NASDAQ:METC - Get Free Report) last posted its quarterly earnings data on Monday, March 10th. The energy company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.36). Ramaco Resources had a net margin of 5.35% and a return on equity of 10.17%. The company had revenue of $170.90 million during the quarter, compared to the consensus estimate of $166.59 million. During the same quarter last year, the business earned $0.24 earnings per share. The company's revenue was down 15.7% on a year-over-year basis. Analysts predict that Ramaco Resources, Inc. will post 0.05 earnings per share for the current year.

Ramaco Resources Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be issued a dividend of $0.0688 per share. This represents a $0.28 dividend on an annualized basis and a yield of 3.16%. Ramaco Resources's payout ratio is currently 245.45%.

Insiders Place Their Bets

In other news, Director Peter A. Leidel sold 180,936 shares of the firm's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $8.82, for a total transaction of $1,595,855.52. Following the completion of the sale, the director now directly owns 708,001 shares of the company's stock, valued at $6,244,568.82. This trade represents a 20.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Yorktown Xi Associates Llc sold 89,501 shares of Ramaco Resources stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $8.09, for a total value of $724,063.09. Following the completion of the transaction, the insider now directly owns 1,024,870 shares in the company, valued at $8,291,198.30. This represents a 8.03 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 922,582 shares of company stock worth $7,898,023. 41.20% of the stock is owned by corporate insiders.

Ramaco Resources 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.