Wells Fargo & Company MN Acquires 223,682 Shares of Ramaco Resources, Inc. (NASDAQ:METC)

Wells Fargo & Company MN raised its stake in shares of Ramaco Resources, Inc. (NASDAQ:METC) by 39.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 797,283 shares of the energy company’s stock after buying an additional 223,682 shares during the quarter. Wells Fargo & Company MN owned about 1.52% of Ramaco Resources worth $8,180,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. AlphaQuest LLC purchased a new position in Ramaco Resources during the 4th quarter valued at approximately $50,000. Campbell Capital Management Inc. purchased a new stake in shares of Ramaco Resources in the fourth quarter valued at $51,000. Jones Financial Companies Lllp bought a new position in Ramaco Resources during the 4th quarter valued at about $56,000. Royce & Associates LP purchased a new position in shares of Ramaco Resources during the fourth quarter valued at approximately $94,000. Finally, Prairiewood Capital LLC bought a new position in shares of Ramaco Resources during the fourth quarter valued at approximately $103,000. Hedge funds and other institutional investors own 74.49% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Benchmark restated a “buy” rating on shares of Ramaco Resources in a report on Wednesday, March 12th. B. Riley lowered their price objective on shares of Ramaco Resources from $18.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Finally, Jefferies Financial Group dropped their target price on Ramaco Resources from $19.00 to $13.00 and set a “buy” rating on the stock in a research report on Monday, January 6th.

Ramaco Resources Trading Up 4.4 %

Shares of NASDAQ:METC opened at $9.87 on Friday. Ramaco Resources, Inc. has a 1 year low of $6.30 and a 1 year high of $16.61. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.35 and a quick ratio of 0.86. The firm has a market capitalization of $532.98 million, a P/E ratio of 15.18 and a beta of 1.14. The business’s 50-day moving average is $8.97 and its 200 day moving average is $10.26.

Ramaco Resources (NASDAQ:METC) last released its 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). Ramaco Resources had a net margin of 5.35% and a return on equity of 10.17%. The firm had revenue of $170.90 million during the quarter, compared to analyst estimates of $166.59 million. During the same period in the previous year, the company earned $0.24 earnings per share. Ramaco Resources’s revenue was down 15.7% on a year-over-year basis. On average, research analysts predict that Ramaco Resources, Inc. will post 0.05 earnings per share for the current fiscal year.

Ramaco Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be given a dividend of $0.0688 per share. This represents a $0.28 dividend on an annualized basis and a yield of 2.79%. Ramaco Resources’s dividend payout ratio is presently 245.45%.

Insider Activity

In other news, Director Peter A. Leidel sold 180,936 shares of the firm’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $8.82, for a total transaction of $1,595,855.52. Following the sale, the director now directly owns 708,001 shares in the company, valued at $6,244,568.82. This trade represents a 20.35 % decrease in their position. The transaction was disclosed in a legal filing 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 firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 1,052,404 shares in the company, valued at approximately $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. Insiders sold a total of 922,582 shares of company stock valued at $7,898,023 in the last quarter. 41.20% of the stock is currently owned by company insiders.

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.