Price T Rowe Associates Inc. MD Makes New $885,000 Investment in Ramaco Resources, Inc. (NASDAQ:METC)

Price T Rowe Associates Inc. MD acquired a new stake in Ramaco Resources, Inc. (NASDAQ:METC) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 86,228 shares of the energy company’s stock, valued at approximately $885,000. Price T Rowe Associates Inc. MD owned 0.16% of Ramaco Resources as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in METC. Harbour Capital Advisors LLC acquired a new position in Ramaco Resources during the fourth quarter worth about $540,000. Barclays PLC increased its stake in Ramaco Resources by 369.7% in the 3rd quarter. Barclays PLC now owns 44,409 shares of the energy company’s stock valued at $519,000 after purchasing an additional 34,954 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Ramaco Resources by 97.3% during the third quarter. JPMorgan Chase & Co. now owns 68,520 shares of the energy company’s stock worth $802,000 after purchasing an additional 33,788 shares during the last quarter. Principal Financial Group Inc. boosted its position in Ramaco Resources by 11.0% during the fourth quarter. Principal Financial Group Inc. now owns 38,017 shares of the energy company’s stock worth $390,000 after purchasing an additional 3,754 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in Ramaco Resources in the fourth quarter valued at $224,000. 74.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

METC has been the subject of several research reports. Benchmark reaffirmed a “buy” rating on shares of Ramaco Resources in a research note on Wednesday, March 12th. B. Riley reduced their price target on shares of Ramaco Resources from $18.00 to $14.00 and set a “buy” rating on the stock in a report on Friday, April 11th.

Insiders Place Their Bets

In related news, Director Peter A. Leidel sold 225,000 shares of the stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $8.08, for a total value of $1,818,000.00. Following the transaction, the director now directly owns 677,403 shares of the company’s stock, valued at approximately $5,473,416.24. This trade represents a 24.93% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Yorktown Xi Associates Llc sold 89,501 shares of Ramaco Resources stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $8.09, for a total value of $724,063.09. Following the completion of the transaction, the insider now owns 1,024,870 shares in the company, valued at $8,291,198.30. The trade was a 8.03% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 922,582 shares of company stock valued at $7,898,023. Company insiders own 41.20% of the company’s stock.

Ramaco Resources Stock Down 1.3%

Shares of NASDAQ:METC opened at $9.01 on Monday. The company has a quick ratio of 0.86, a current ratio of 1.35 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $400.12 million, a P/E ratio of 13.86 and a beta of 1.28. Ramaco Resources, Inc. has a 52-week low of $6.30 and a 52-week high of $15.49. The stock’s fifty day simple moving average is $8.99 and its 200-day simple moving average is $10.09.

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 analysts’ consensus estimates of $0.42 by ($0.36). The firm had revenue of $170.90 million during the quarter, compared to analysts’ expectations of $166.59 million. Ramaco Resources had a net margin of 5.35% and a return on equity of 10.17%. Ramaco Resources’s revenue for the quarter was down 15.7% on a year-over-year basis. During the same quarter last year, the company posted $0.24 earnings per share. As a group, equities research 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 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. The ex-dividend date is Friday, May 30th. This represents a $0.28 annualized dividend and a yield of 3.05%. Ramaco Resources’s payout ratio is currently 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.