Wellington Management Group LLP Takes $22.13 Million Position in Ramaco Resources, Inc. (NASDAQ:METC)

Wellington Management Group LLP purchased a new position in shares of Ramaco Resources, Inc. (NASDAQ:METC - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 1,891,234 shares of the energy company's stock, valued at approximately $22,127,000. Wellington Management Group LLP owned approximately 4.32% of Ramaco Resources as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of METC. Innealta Capital LLC acquired a new position in Ramaco Resources in the 2nd quarter worth about $28,000. Pingora Partners LLC boosted its stake in shares of Ramaco Resources by 330.2% in the 3rd quarter. Pingora Partners LLC now owns 3,700 shares of the energy company's stock valued at $43,000 after purchasing an additional 2,840 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in Ramaco Resources during the 3rd quarter worth about $45,000. Segall Bryant & Hamill LLC grew its stake in Ramaco Resources by 1.5% during the third quarter. Segall Bryant & Hamill LLC now owns 310,688 shares of the energy company's stock worth $3,635,000 after purchasing an additional 4,460 shares during the period. Finally, Empowered Funds LLC grew its position in shares of Ramaco Resources by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 115,017 shares of the energy company's stock worth $1,346,000 after buying an additional 5,762 shares during the period. 74.49% of the stock is currently owned by institutional investors.

Ramaco Resources Stock Performance

Shares of METC stock traded up $0.07 during trading on Friday, hitting $12.02. The company's stock had a trading volume of 466,788 shares, compared to its average volume of 676,502. 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 market cap of $631.41 million, a PE ratio of 18.49 and a beta of 1.14. The business has a fifty day moving average of $11.65 and a 200-day moving average of $12.18. Ramaco Resources, Inc. has a 52 week low of $9.03 and a 52 week high of $22.70.

Ramaco Resources (NASDAQ:METC - Get Free Report) last released its earnings results on Monday, November 4th. The energy company reported ($0.03) EPS for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.01). The business had revenue of $167.40 million for the quarter, compared to the consensus estimate of $156.41 million. Ramaco Resources had a return on equity of 10.17% and a net margin of 5.35%. The company's revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.45 earnings per share. As a group, research analysts anticipate that Ramaco Resources, Inc. will post 0.86 earnings per share for the current year.

Ramaco Resources Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.1375 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.55 annualized dividend and a dividend yield of 4.58%. Ramaco Resources's payout ratio is currently 84.62%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on METC shares. B. Riley decreased their target price on Ramaco Resources from $19.00 to $18.00 and set a "buy" rating for the company in a research report on Tuesday, September 17th. Benchmark reiterated a "buy" rating and issued a $20.00 target price on shares of Ramaco Resources in a research note on Thursday, August 29th.

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.