Victory Capital Management Inc. Buys 88,392 Shares of Ramaco Resources, Inc. (NASDAQ:METC)

Victory Capital Management Inc. increased its stake in shares of Ramaco Resources, Inc. (NASDAQ:METC) by 442.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 108,390 shares of the energy company’s stock after purchasing an additional 88,392 shares during the quarter. Victory Capital Management Inc. owned about 0.20% of Ramaco Resources worth $1,349,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Innealta Capital LLC bought a new stake in shares of Ramaco Resources during the second quarter valued at approximately $28,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Ramaco Resources during the 1st quarter worth about $93,000. Global Trust Asset Management LLC raised its stake in Ramaco Resources by 2,071.7% in the 1st quarter. Global Trust Asset Management LLC now owns 7,058 shares of the energy company’s stock worth $119,000 after purchasing an additional 6,733 shares in the last quarter. Oxford Asset Management LLP acquired a new stake in Ramaco Resources in the 4th quarter worth about $176,000. Finally, Quantedge Capital Pte Ltd acquired a new position in shares of Ramaco Resources in the 4th quarter valued at approximately $218,000. 74.49% of the stock is owned by institutional investors.

Ramaco Resources Stock Performance

METC opened at $10.22 on Friday. The company has a current ratio of 1.33, a quick ratio of 0.90 and a debt-to-equity ratio of 0.23. The company’s fifty day moving average price is $12.17 and its two-hundred day moving average price is $14.03. Ramaco Resources, Inc. has a 1-year low of $8.72 and a 1-year high of $22.70. The company has a market cap of $452.37 million, a price-to-earnings ratio of 8.74 and a beta of 1.05.

Ramaco Resources (NASDAQ:METC) last released its quarterly earnings data on Wednesday, August 7th. The energy company reported $0.08 earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.23. Ramaco Resources had a net margin of 7.95% and a return on equity of 16.30%. The firm had revenue of $155.32 million for the quarter, compared to the consensus estimate of $141.66 million. On average, analysts expect that Ramaco Resources, Inc. will post 1.44 EPS for the current fiscal year.

Ramaco Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a dividend of $0.138 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.55 annualized dividend and a yield of 5.40%. Ramaco Resources’s payout ratio is 47.01%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on METC shares. B. Riley decreased their price target on shares of Ramaco Resources from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday. Benchmark reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Ramaco Resources in a research note on Thursday, August 29th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Ramaco Resources has a consensus rating of “Moderate Buy” and an average target price of $16.70.

About Ramaco Resources

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.