HighTower Advisors LLC Takes $148,000 Position in Ramaco Resources, Inc. (NASDAQ:METC)

HighTower Advisors LLC bought a new stake in shares of Ramaco Resources, Inc. (NASDAQ:METC) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 12,590 shares of the energy company’s stock, valued at approximately $148,000.

Other large investors have also recently made changes to their positions in the company. Innealta Capital LLC bought a new stake in shares of Ramaco Resources during the second quarter valued at approximately $28,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Ramaco Resources during the second quarter valued at about $94,000. Koss Olinger Consulting LLC purchased a new position in shares of Ramaco Resources in the second quarter valued at about $134,000. The Manufacturers Life Insurance Company purchased a new position in Ramaco Resources in the 2nd quarter worth approximately $139,000. Finally, WINTON GROUP Ltd purchased a new position in shares of Ramaco Resources during the second quarter valued at about $229,000. 74.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Ramaco Resources Stock Up 0.1 %

Ramaco Resources stock opened at $10.18 on Thursday. 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 $534.75 million, a price-to-earnings ratio of 15.66 and a beta of 1.14. The business’s 50-day moving average price is $11.59 and its 200 day moving average price is $12.00. The company has a quick ratio of 0.86, a current ratio of 1.35 and a debt-to-equity ratio of 0.23.

Ramaco Resources (NASDAQ:METC) last announced its earnings results on Monday, November 4th. The energy company reported ($0.03) earnings per share (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 for the quarter, compared to analysts’ expectations of $156.41 million. The company’s quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter last year, the business earned $0.45 EPS. As a group, sell-side analysts anticipate that Ramaco Resources, Inc. will post 0.86 earnings per share for the current year.

Ramaco Resources Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a $0.1375 dividend. The ex-dividend date was Monday, December 2nd. This represents a $0.55 dividend on an annualized basis and a yield of 5.40%. Ramaco Resources’s 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.