Ramaco Resources, Inc. (NASDAQ:METC) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its position in Ramaco Resources, Inc. (NASDAQ:METC) by 45.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 34,263 shares of the energy company’s stock after selling 29,054 shares during the period. Principal Financial Group Inc. owned approximately 0.08% of Ramaco Resources worth $401,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Ramaco Resources by 8.9% during the first 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. lifted its stake in shares of Ramaco Resources by 14.9% in the 2nd quarter. American Century Companies Inc. now owns 694,615 shares of the energy company’s stock valued at $8,648,000 after purchasing an additional 90,014 shares during the period. Millennium Management LLC boosted its holdings in Ramaco Resources by 22.4% during the second quarter. Millennium Management LLC now owns 435,007 shares of the energy company’s stock worth $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 Ramaco Resources by 5.0% during 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 buying an additional 18,393 shares during the period. 74.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Ramaco Resources Price Performance

Ramaco Resources stock opened at $12.56 on Monday. The company’s 50 day simple moving average is $11.17 and its 200-day simple moving average is $12.28. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.86 and a current ratio of 1.35. Ramaco Resources, Inc. has a 1 year low of $9.03 and a 1 year high of $22.70. The company has a market capitalization of $659.78 million, a price-to-earnings ratio of 19.32 and a beta of 1.08.

Ramaco Resources (NASDAQ:METC) last released its quarterly earnings data on Monday, November 4th. The energy company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). Ramaco Resources had a net margin of 5.35% and a return on equity of 10.17%. The business had revenue of $167.40 million during the quarter, compared to analysts’ expectations of $156.41 million. During the same quarter in the previous year, the company posted $0.45 EPS. The company’s revenue was down 10.5% compared to the same quarter last year. As a group, equities research analysts expect that Ramaco Resources, Inc. will post 0.86 earnings per share for the current year.

Ramaco Resources Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $0.1375 dividend. This represents a $0.55 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date of this dividend is Monday, December 2nd. Ramaco Resources’s dividend payout ratio is currently 84.62%.

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.