Jones Financial Companies Lllp purchased a new position in Ramaco Resources, Inc. (NASDAQ:METC – Free Report) in the fourth quarter, HoldingsChannel reports. The firm purchased 5,419 shares of the energy company’s stock, valued at approximately $56,000.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. US Bancorp DE acquired a new stake in Ramaco Resources during the fourth quarter valued at approximately $438,000. Versor Investments LP acquired a new position in shares of Ramaco Resources during the 4th quarter worth $223,000. Proficio Capital Partners LLC bought a new stake in shares of Ramaco Resources during the 4th quarter worth $224,000. Bank of New York Mellon Corp boosted its holdings in shares of Ramaco Resources by 42.1% during the 4th quarter. Bank of New York Mellon Corp now owns 524,009 shares of the energy company’s stock worth $5,376,000 after buying an additional 155,169 shares during the period. Finally, New York State Common Retirement Fund boosted its holdings in Ramaco Resources by 12.5% in the 4th quarter. New York State Common Retirement Fund now owns 17,988 shares of the energy company’s stock valued at $185,000 after purchasing an additional 2,000 shares during the period. 74.49% of the stock is owned by institutional investors and hedge funds.
Ramaco Resources Stock Down 3.2 %
Shares of NASDAQ:METC opened at $9.25 on Tuesday. The company has a 50 day moving average of $9.59 and a 200-day moving average of $10.64. Ramaco Resources, Inc. has a one year low of $8.17 and a one year high of $17.23. The stock has a market cap of $485.89 million, a price-to-earnings ratio of 14.23 and a beta of 1.17. 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 Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be paid a $0.0688 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 2.97%. Ramaco Resources’s payout ratio is currently 500.00%.
Analysts Set New Price Targets
A number of equities analysts have recently commented on the stock. Benchmark reaffirmed a “buy” rating on shares of Ramaco Resources in a report on Wednesday, March 12th. Jefferies Financial Group lowered their price objective on shares of Ramaco Resources from $19.00 to $13.00 and set a “buy” rating for the company in a research report on Monday, January 6th.
View Our Latest Stock Report on METC
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.
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