Geode Capital Management LLC Sells 28,078 Shares of Ramaco Resources, Inc. (NASDAQ:METC)

Geode Capital Management LLC lowered its stake in Ramaco Resources, Inc. (NASDAQ:METC) by 4.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 598,502 shares of the energy company’s stock after selling 28,078 shares during the quarter. Geode Capital Management LLC owned about 1.37% of Ramaco Resources worth $7,004,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in METC. American Century Companies Inc. lifted its position in shares of Ramaco Resources by 14.9% in the second quarter. American Century Companies Inc. now owns 694,615 shares of the energy company’s stock valued at $8,648,000 after acquiring an additional 90,014 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in 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 during the period. Dynamic Technology Lab Private Ltd lifted its holdings in Ramaco Resources by 190.4% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 89,958 shares of the energy company’s stock worth $1,053,000 after purchasing an additional 58,980 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Ramaco Resources by 231.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 262,354 shares of the energy company’s stock worth $3,070,000 after purchasing an additional 183,163 shares during the period. Finally, Lunt Capital Management Inc. grew its holdings in Ramaco Resources by 619.0% during the 3rd quarter. Lunt Capital Management Inc. now owns 71,900 shares of the energy company’s stock valued at $841,000 after buying an additional 61,900 shares in the last quarter. 74.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, B. Riley cut their target price on shares of Ramaco Resources from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th.

Ramaco Resources Stock Performance

Shares of NASDAQ:METC opened at $10.36 on Friday. The firm has a fifty day simple moving average of $11.55 and a two-hundred day simple moving average of $11.89. Ramaco Resources, Inc. has a 52 week low of $9.03 and a 52 week high of $22.70. The company has a quick ratio of 0.86, a current ratio of 1.35 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $544.20 million, a P/E ratio of 15.94 and a beta of 1.14.

Ramaco Resources (NASDAQ:METC) last issued its quarterly earnings data 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). The company had revenue of $167.40 million for the quarter, compared to analysts’ expectations of $156.41 million. Ramaco Resources had a net margin of 5.35% and a return on equity of 10.17%. The company’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter last year, the company earned $0.45 earnings per share. On average, analysts expect that Ramaco Resources, Inc. will post 0.86 earnings per share for the current fiscal year.

Ramaco Resources Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a $0.1375 dividend. This represents a $0.55 annualized dividend and a dividend yield of 5.31%. The ex-dividend date of this dividend was Monday, December 2nd. Ramaco Resources’s dividend payout ratio is currently 84.62%.

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.