Truist Financial Corp Has $291,000 Position in Ramaco Resources, Inc. (NASDAQ:METC)

Truist Financial Corp cut its holdings in Ramaco Resources, Inc. (NASDAQ:METC) by 4.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,370 shares of the energy company’s stock after selling 1,200 shares during the quarter. Truist Financial Corp owned about 0.05% of Ramaco Resources worth $291,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of METC. Innealta Capital LLC bought a new stake in Ramaco Resources in the second quarter worth $28,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Ramaco Resources during the 1st quarter worth about $93,000. Global Trust Asset Management LLC increased its holdings in shares of Ramaco Resources by 2,071.7% during the 1st quarter. Global Trust Asset Management LLC now owns 7,058 shares of the energy company’s stock valued at $119,000 after acquiring an additional 6,733 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Ramaco Resources in the 2nd quarter valued at approximately $94,000. Finally, Koss Olinger Consulting LLC acquired a new stake in Ramaco Resources in the 2nd quarter worth approximately $134,000. Institutional investors and hedge funds own 74.49% of the company’s stock.

Ramaco Resources Stock Performance

Shares of NASDAQ METC opened at $10.64 on Friday. Ramaco Resources, Inc. has a 12 month low of $9.03 and a 12 month high of $22.70. The company has a quick ratio of 0.90, a current ratio of 1.33 and a debt-to-equity ratio of 0.23. The company has a market cap of $470.96 million, a P/E ratio of 9.09 and a beta of 1.05. The business’s 50 day moving average is $11.18 and its two-hundred day moving average is $13.11.

Ramaco Resources (NASDAQ:METC) last announced its earnings results on Wednesday, August 7th. The energy company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.23. Ramaco Resources had a net margin of 7.95% and a return on equity of 16.30%. The business had revenue of $155.32 million for the quarter, compared to analyst estimates of $141.66 million. On average, equities analysts expect that Ramaco Resources, Inc. will post 0.88 EPS for the current year.

Ramaco Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a $0.138 dividend. This represents a $0.55 annualized dividend and a dividend yield of 5.19%. The ex-dividend date was Friday, August 30th. Ramaco Resources’s payout ratio is presently 47.01%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. B. Riley lowered their price target on Ramaco Resources from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. Benchmark reiterated a “buy” rating and issued a $20.00 target price on shares of Ramaco Resources in a report on Thursday, August 29th.

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.