Pacer Advisors Inc. Makes New Investment in Ramaco Resources, Inc. (NASDAQ:METC)

Pacer Advisors Inc. acquired a new position in Ramaco Resources, Inc. (NASDAQ:METC) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 333,921 shares of the energy company’s stock, valued at approximately $2,748,000. Pacer Advisors Inc. owned approximately 0.75% of Ramaco Resources at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. BNP Paribas Financial Markets bought a new position in shares of Ramaco Resources in the 4th quarter worth about $80,000. UNC Management Company Inc. purchased a new stake in Ramaco Resources during the 4th quarter valued at about $109,000. Parkwood LLC purchased a new stake in Ramaco Resources during the 4th quarter valued at about $109,000. Jump Financial LLC purchased a new stake in Ramaco Resources during the 4th quarter valued at about $111,000. Finally, Cetera Investment Advisers grew its position in Ramaco Resources by 27.3% during the 4th quarter. Cetera Investment Advisers now owns 12,872 shares of the energy company’s stock valued at $132,000 after purchasing an additional 2,760 shares during the last quarter. 74.49% of the stock is currently owned by institutional investors.

Ramaco Resources Stock Performance

Shares of NASDAQ METC opened at $20.77 on Wednesday. The firm’s 50-day moving average price is $13.51 and its 200-day moving average price is $10.75. The company has a quick ratio of 0.87, a current ratio of 1.32 and a debt-to-equity ratio of 0.33. The company has a market cap of $1.14 billion, a PE ratio of -259.63 and a beta of 1.30. Ramaco Resources, Inc. has a 52-week low of $6.30 and a 52-week high of $24.75.

Ramaco Resources (NASDAQ:METC) last issued its quarterly earnings data on Monday, May 12th. The energy company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.10. Ramaco Resources had a negative net margin of 0.05% and a negative return on equity of 0.08%. The firm had revenue of $115.61 million for the quarter, compared to analysts’ expectations of $137.10 million. During the same quarter in the prior year, the business earned $0.23 EPS. The business’s quarterly revenue was down 22.0% on a year-over-year basis. As a group, analysts anticipate 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 was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were paid a $0.0688 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend was Friday, May 30th. Ramaco Resources’s dividend payout ratio (DPR) is presently -350.00%.

Analysts Set New Price Targets

METC has been the topic of several recent analyst reports. B. Riley cut their price objective on shares of Ramaco Resources from $18.00 to $14.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. Benchmark dropped 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 Tuesday, May 13th. Wall Street Zen downgraded shares of Ramaco Resources from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $27.00 price target (up previously from $15.00) on shares of Ramaco Resources in a report on Wednesday, July 16th.

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.