Voya Investment Management LLC Purchases 9,001 Shares of Ramaco Resources, Inc. (NASDAQ:METC)

Voya Investment Management LLC lifted its position in Ramaco Resources, Inc. (NASDAQ:METC) by 84.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 19,616 shares of the energy company’s stock after purchasing an additional 9,001 shares during the quarter. Voya Investment Management LLC’s holdings in Ramaco Resources were worth $201,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of METC. Dimensional Fund Advisors LP boosted its holdings in Ramaco Resources by 8.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,745,409 shares of the energy company’s stock worth $17,907,000 after buying an additional 142,423 shares during the period. Discovery Capital Management LLC CT purchased a new position in shares of Ramaco Resources in the fourth quarter valued at about $9,289,000. American Century Companies Inc. boosted its stake in shares of Ramaco Resources by 10.8% in the fourth quarter. American Century Companies Inc. now owns 870,957 shares of the energy company’s stock worth $8,936,000 after acquiring an additional 84,734 shares during the period. Wells Fargo & Company MN grew its position in shares of Ramaco Resources by 39.0% during the fourth quarter. Wells Fargo & Company MN now owns 797,283 shares of the energy company’s stock worth $8,180,000 after purchasing an additional 223,682 shares in the last quarter. Finally, CenterBook Partners LP purchased a new stake in shares of Ramaco Resources during the fourth quarter worth about $6,862,000. 74.49% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on METC shares. B. Riley lowered their price target on Ramaco Resources from $18.00 to $14.00 and set a “buy” rating on the stock in a report on Friday, April 11th. Benchmark lowered their target price on shares of Ramaco Resources from $18.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday.

Insider Activity

In related news, major shareholder Yorktown Xi Associates Llc sold 89,501 shares of the firm’s stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $8.09, for a total value of $724,063.09. Following the completion of the sale, the insider now directly owns 1,024,870 shares in the company, valued at $8,291,198.30. This trade represents a 8.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Yorktown Energy Partners Xi, L sold 98,274 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $8.85, for a total transaction of $869,724.90. Following the completion of the sale, the insider now directly owns 1,052,404 shares in the company, valued at approximately $9,313,775.40. This represents a 8.54% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 922,582 shares of company stock worth $7,898,023. 41.20% of the stock is currently owned by insiders.

Ramaco Resources Stock Up 10.0%

METC opened at $9.90 on Wednesday. The company has a market capitalization of $439.64 million, a PE ratio of 15.23 and a beta of 1.28. The firm has a 50-day simple moving average of $9.01 and a two-hundred day simple moving average of $10.08. The company has a quick ratio of 0.86, a current ratio of 1.35 and a debt-to-equity ratio of 0.23. Ramaco Resources, Inc. has a 52 week low of $6.30 and a 52 week high of $15.49.

Ramaco Resources (NASDAQ:METC) last announced its quarterly earnings results on Monday, May 12th. The energy company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.10. The company had revenue of $115.61 million during the quarter, compared to analyst estimates of $137.10 million. Ramaco Resources had a return on equity of 10.17% and a net margin of 5.35%. The firm’s revenue was down 22.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.23 earnings per share. Analysts forecast that Ramaco Resources, Inc. will post 0.05 earnings per share for the current fiscal year.

Ramaco Resources Cuts Dividend

The company 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. The ex-dividend date is Friday, May 30th. This represents a $0.28 annualized dividend and a dividend yield of 2.78%. Ramaco Resources’s dividend payout ratio (DPR) 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.