Exchange Traded Concepts LLC Raises Stock Position in Ramaco Resources, Inc. (NASDAQ:METC)

Exchange Traded Concepts LLC lifted its position in shares of Ramaco Resources, Inc. (NASDAQ:METC) by 18.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,889 shares of the energy company’s stock after acquiring an additional 7,068 shares during the quarter. Exchange Traded Concepts LLC owned 0.10% of Ramaco Resources worth $537,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in Ramaco Resources by 8.9% during the 1st quarter. Vanguard Group Inc. now owns 1,591,146 shares of the energy company’s stock valued at $26,795,000 after acquiring an additional 130,593 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Ramaco Resources by 21.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,380,601 shares of the energy company’s stock valued at $17,186,000 after purchasing an additional 245,924 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Ramaco Resources by 14.9% during the 2nd quarter. American Century Companies Inc. now owns 694,615 shares of the energy company’s stock worth $8,648,000 after purchasing an additional 90,014 shares in the last quarter. Millennium Management LLC raised its position in shares of Ramaco Resources by 22.4% during the 2nd quarter. Millennium Management LLC now owns 435,007 shares of the energy company’s stock worth $5,416,000 after purchasing an additional 79,687 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Ramaco Resources by 5.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 383,422 shares of the energy company’s stock valued at $4,774,000 after buying an additional 18,393 shares in the last quarter. Institutional investors and hedge funds own 74.49% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on METC shares. B. Riley dropped their price target on Ramaco Resources from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. Benchmark reissued a “buy” rating and issued a $20.00 target price on shares of Ramaco Resources in a research note on Thursday, August 29th.

Ramaco Resources Trading Down 1.5 %

Shares of Ramaco Resources stock opened at $10.64 on Friday. Ramaco Resources, Inc. has a fifty-two week low of $9.03 and a fifty-two week high of $22.70. The business’s fifty day moving average is $11.18 and its two-hundred day moving average is $13.09. 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 firm has a market cap of $470.96 million, a PE ratio of 9.09 and a beta of 1.05.

Ramaco Resources (NASDAQ:METC) last released its earnings results 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. The firm had revenue of $155.32 million for the quarter, compared to the consensus estimate of $141.66 million. Ramaco Resources had a return on equity of 16.30% and a net margin of 7.95%. Analysts anticipate that Ramaco Resources, Inc. will post 0.88 earnings per share for the current year.

Ramaco Resources Announces Dividend

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

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.