Raymond James Financial Inc. Invests $487,000 in Ramaco Resources, Inc. (NASDAQ:METC)

Raymond James Financial Inc. acquired a new stake in Ramaco Resources, Inc. (NASDAQ:METC) in the 4th quarter, Holdings Channel reports. The firm acquired 47,487 shares of the energy company’s stock, valued at approximately $487,000.

Other hedge funds have also recently bought and sold shares of the company. Point72 DIFC Ltd purchased a new stake in Ramaco Resources during the third quarter worth $45,000. Jones Financial Companies Lllp acquired a new position in shares of Ramaco Resources during the 4th quarter worth $56,000. Prairiewood Capital LLC purchased a new stake in shares of Ramaco Resources in the 4th quarter worth about $103,000. HighTower Advisors LLC acquired a new stake in Ramaco Resources in the 3rd quarter valued at about $148,000. Finally, SG Americas Securities LLC grew its stake in Ramaco Resources by 68.8% in the 4th quarter. SG Americas Securities LLC now owns 16,076 shares of the energy company’s stock valued at $165,000 after acquiring an additional 6,555 shares during the last quarter. 74.49% of the stock is owned by hedge funds and other institutional investors.

Ramaco Resources Trading Down 2.3 %

Ramaco Resources stock opened at $6.68 on Tuesday. The stock has a 50-day moving average price of $9.22 and a 200 day moving average price of $10.41. Ramaco Resources, Inc. has a 52 week low of $6.30 and a 52 week high of $16.92. The stock has a market cap of $360.72 million, a PE ratio of 10.28 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.

Ramaco Resources (NASDAQ:METC) 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%. Ramaco Resources’s revenue for the quarter was down 15.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.24 earnings per share. Equities research analysts predict that Ramaco Resources, Inc. will post 0.05 earnings per share for the current fiscal year.

Ramaco Resources Cuts Dividend

The company also recently announced 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 annualized dividend and a yield of 4.12%. Ramaco Resources’s payout ratio is currently 245.45%.

Insider Buying and Selling at Ramaco Resources

In other news, Director Peter A. Leidel sold 180,936 shares of Ramaco Resources stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $8.82, for a total value of $1,595,855.52. Following the completion of the sale, the director now owns 708,001 shares of the company’s stock, valued at $6,244,568.82. The trade was a 20.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Yorktown Energy Partners Xi, L sold 98,274 shares of the company’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $8.85, for a total value of $869,724.90. Following the completion of the transaction, the insider now owns 1,052,404 shares of the company’s stock, valued at $9,313,775.40. The trade was a 8.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 922,582 shares of company stock worth $7,898,023. Insiders own 41.20% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Benchmark restated a “buy” rating on shares of Ramaco Resources in a research report on Wednesday, March 12th. Jefferies Financial Group cut 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.

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.