The Manufacturers Life Insurance Company Takes $139,000 Position in Ramaco Resources, Inc. (NASDAQ:METC)

The Manufacturers Life Insurance Company purchased a new position in Ramaco Resources, Inc. (NASDAQ:METC) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,136 shares of the energy company’s stock, valued at approximately $139,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its position 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 increased its holdings in shares of Ramaco Resources by 21.7% during the 2nd 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 in the last quarter. American Century Companies Inc. raised its holdings in Ramaco Resources by 14.9% in 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 during the period. Millennium Management LLC lifted 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 valued at $5,416,000 after buying an additional 79,687 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Ramaco Resources by 5.0% in the second quarter. Bank of New York Mellon Corp now owns 383,422 shares of the energy company’s stock valued at $4,774,000 after purchasing an additional 18,393 shares during the period. 74.49% of the stock is currently owned by institutional investors.

Ramaco Resources Stock Performance

NASDAQ METC opened at $10.64 on Friday. 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 business’s 50-day moving average price is $11.18 and its 200 day moving average price is $13.09. Ramaco Resources, Inc. has a 52-week low of $9.03 and a 52-week high of $22.70. The firm has a market cap of $470.96 million, a P/E ratio of 9.09 and a beta of 1.05.

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

Ramaco Resources Announces Dividend

The firm 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. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.55 annualized dividend and a yield of 5.19%. Ramaco Resources’s payout ratio is currently 47.01%.

Analyst Ratings Changes

METC has been the topic of a number of research reports. 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. B. Riley lowered 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.

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.