Ramaco Resources, Inc. (NASDAQ:METC) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. cut its position in shares of Ramaco Resources, Inc. (NASDAQ:METC) by 51.7% during the 3rd quarter, Holdings Channel reports. The firm owned 33,158 shares of the energy company’s stock after selling 35,548 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Ramaco Resources were worth $388,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. American Century Companies Inc. increased its position in shares of Ramaco Resources by 14.9% during the 2nd quarter. American Century Companies Inc. now owns 694,615 shares of the energy company’s stock valued at $8,648,000 after purchasing an additional 90,014 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Ramaco Resources by 21.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,380,601 shares of the energy company’s stock valued at $17,186,000 after purchasing an additional 245,924 shares during the period. Vanguard Group Inc. increased its position in shares of Ramaco Resources by 8.9% during the 1st quarter. Vanguard Group Inc. now owns 1,591,146 shares of the energy company’s stock valued at $26,795,000 after purchasing an additional 130,593 shares during the period. Lunt Capital Management Inc. increased its position in shares of Ramaco Resources by 619.0% during the 3rd quarter. Lunt Capital Management Inc. now owns 71,900 shares of the energy company’s stock valued at $841,000 after purchasing an additional 61,900 shares during the period. Finally, Victory Capital Management Inc. increased its position in shares of Ramaco Resources by 442.0% during the 2nd quarter. Victory Capital Management Inc. now owns 108,390 shares of the energy company’s stock valued at $1,349,000 after purchasing an additional 88,392 shares during the period. 74.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

METC has been the subject of several research reports. B. Riley reduced their price objective on Ramaco Resources from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. Benchmark reissued a “buy” rating and set a $20.00 price objective on shares of Ramaco Resources in a research note on Thursday, August 29th.

Ramaco Resources Stock Performance

METC opened at $12.15 on Friday. The firm has a market cap of $532.17 million, a PE ratio of 18.69 and a beta of 1.08. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.23. The business has a fifty day simple moving average of $10.88 and a 200-day simple moving average of $12.42. Ramaco Resources, Inc. has a fifty-two week low of $9.03 and a fifty-two week high of $22.70.

Ramaco Resources (NASDAQ:METC) last issued its earnings results on Monday, November 4th. The energy company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The business had revenue of $167.40 million during the quarter, compared to analyst estimates of $156.41 million. Ramaco Resources had a return on equity of 10.17% and a net margin of 5.35%. The business’s quarterly revenue was down 10.5% on a year-over-year basis. During the same period last year, the business earned $0.45 EPS. As a group, equities analysts predict that Ramaco Resources, Inc. will post 0.86 EPS for the current fiscal year.

Ramaco Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a dividend of $0.138 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.55 dividend on an annualized basis and a yield of 4.54%. Ramaco Resources’s payout ratio is 84.62%.

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.