Geode Capital Management LLC Has $6.04 Million Holdings in Ramaco Resources, Inc. (NASDAQ:METC)

Geode Capital Management LLC decreased its stake in shares of Ramaco Resources, Inc. (NASDAQ:METC) by 1.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 588,789 shares of the energy company’s stock after selling 9,713 shares during the period. Geode Capital Management LLC’s holdings in Ramaco Resources were worth $6,043,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in METC. AlphaQuest LLC bought a new position in shares of Ramaco Resources in the fourth quarter valued at approximately $50,000. Campbell Capital Management Inc. acquired a new position in Ramaco Resources in the 4th quarter valued at $51,000. Jones Financial Companies Lllp bought a new position in Ramaco Resources in the 4th quarter worth $56,000. Royce & Associates LP acquired a new position in Ramaco Resources during the 4th quarter worth $94,000. Finally, Prairiewood Capital LLC bought a new stake in Ramaco Resources during the fourth quarter valued at about $103,000. 74.49% of the stock is owned by institutional investors.

Insider Activity

In other Ramaco Resources news, major shareholder Yorktown Energy Partners Xi, L sold 83,871 shares of the business’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $8.61, for a total value of $722,129.31. Following the transaction, the insider now directly owns 1,059,909 shares in the company, valued at $9,125,816.49. The trade was a 7.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Yorktown Xi Associates Llc sold 89,501 shares of Ramaco Resources stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $8.09, for a total transaction of $724,063.09. Following the completion of the transaction, the insider now owns 1,024,870 shares of the company’s stock, valued at $8,291,198.30. This trade represents a 8.03 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 922,582 shares of company stock worth $7,898,023. Corporate insiders own 41.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. 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. B. Riley cut their price target on Ramaco Resources from $18.00 to $14.00 and set a “buy” rating for the company in a report on Friday, April 11th. Finally, Benchmark restated a “buy” rating on shares of Ramaco Resources in a research note on Wednesday, March 12th.

Ramaco Resources Stock Down 4.0 %

NASDAQ METC opened at $9.96 on Friday. Ramaco Resources, Inc. has a twelve month low of $6.30 and a twelve month high of $16.61. The stock has a market cap of $537.84 million, a PE ratio of 15.32 and a beta of 1.14. The firm has a 50-day simple moving average of $8.91 and a 200 day simple moving average of $10.16. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.86 and a current ratio of 1.35.

Ramaco Resources (NASDAQ:METC) last released its quarterly earnings data on Monday, March 10th. The energy company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.36). The firm had revenue of $170.90 million for the quarter, compared to the consensus estimate of $166.59 million. Ramaco Resources had a net margin of 5.35% and a return on equity of 10.17%. The business’s revenue for the quarter was down 15.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.24 earnings per share. On average, research analysts forecast that Ramaco Resources, Inc. will post 0.05 EPS for the current year.

Ramaco Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders 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 dividend yield of 2.76%. 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.