Wellington Management Group LLP Decreases Stake in Ramaco Resources, Inc. (NASDAQ:METC)

Wellington Management Group LLP cut its holdings in shares of Ramaco Resources, Inc. (NASDAQ:METC - Free Report) by 43.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,067,142 shares of the energy company's stock after selling 824,092 shares during the quarter. Wellington Management Group LLP owned 2.03% of Ramaco Resources worth $10,949,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Harbour Capital Advisors LLC purchased a new stake in shares of Ramaco Resources in the 4th quarter valued at approximately $540,000. Barclays PLC grew its holdings in shares of Ramaco Resources by 369.7% during the third quarter. Barclays PLC now owns 44,409 shares of the energy company's stock worth $519,000 after purchasing an additional 34,954 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Ramaco Resources by 97.3% during the third quarter. JPMorgan Chase & Co. now owns 68,520 shares of the energy company's stock worth $802,000 after purchasing an additional 33,788 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of 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 purchasing an additional 183,163 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Ramaco Resources by 11.0% in the 4th quarter. Principal Financial Group Inc. now owns 38,017 shares of the energy company's stock valued at $390,000 after purchasing an additional 3,754 shares during the period. 74.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on METC. Jefferies Financial Group dropped their price objective on shares of Ramaco Resources from $19.00 to $13.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Benchmark reissued a "buy" rating on shares of Ramaco Resources in a research note on Wednesday, March 12th. Finally, B. Riley dropped their price objective on Ramaco Resources from $18.00 to $14.00 and set a "buy" rating on the stock in a report on Friday.

Insider Buying and Selling

In other news, major shareholder Yorktown Energy Partners Xi, L sold 83,871 shares of the business's stock in a transaction on Friday, March 21st. The shares were sold at an average price of $8.61, for a total transaction of $722,129.31. Following the completion of the sale, the insider now directly owns 1,059,909 shares of the company's stock, valued at $9,125,816.49. The trade was a 7.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Peter A. Leidel sold 225,000 shares of the business's stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $8.08, for a total value of $1,818,000.00. Following the sale, the director now owns 677,403 shares of the company's stock, valued at $5,473,416.24. The trade was a 24.93 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 922,582 shares of company stock worth $7,898,023. 41.20% of the stock is owned by insiders.

Ramaco Resources Price Performance

Shares of NASDAQ:METC traded up $0.11 during trading on Tuesday, hitting $8.63. 155,645 shares of the stock were exchanged, compared to its average volume of 588,353. The company has a market cap of $465.75 million, a PE ratio of 13.25 and a beta of 1.14. The company has a current ratio of 1.35, a quick ratio of 0.86 and a debt-to-equity ratio of 0.23. The company has a fifty day moving average price of $8.98 and a two-hundred day moving average price of $10.27. Ramaco Resources, Inc. has a 12-month low of $6.30 and a 12-month high of $16.92.

Ramaco Resources (NASDAQ:METC - Get Free Report) last released its quarterly earnings results 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). The firm had revenue of $170.90 million for the quarter, compared to analyst estimates of $166.59 million. Ramaco Resources had a return on equity of 10.17% and a net margin of 5.35%. The company's quarterly revenue was down 15.7% compared to the same quarter last year. During the same period last year, the firm earned $0.24 EPS. On average, analysts forecast that Ramaco Resources, Inc. will post 0.05 EPS 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 paid a $0.0688 dividend. This represents a $0.28 annualized dividend and a yield of 3.19%. Ramaco Resources's payout ratio is 245.45%.

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.