Barclays PLC Increases Stock Position in Ramaco Resources, Inc. (NASDAQ:METC)

Barclays PLC boosted its position in shares of Ramaco Resources, Inc. (NASDAQ:METC) by 369.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,409 shares of the energy company’s stock after purchasing an additional 34,954 shares during the period. Barclays PLC owned approximately 0.08% of Ramaco Resources worth $519,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in METC. Pingora Partners LLC grew its stake in shares of Ramaco Resources by 330.2% during the third quarter. Pingora Partners LLC now owns 3,700 shares of the energy company’s stock valued at $43,000 after acquiring an additional 2,840 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in Ramaco Resources during the 3rd quarter valued at approximately $45,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Ramaco Resources during the 2nd quarter worth approximately $94,000. The Manufacturers Life Insurance Company acquired a new position in shares of Ramaco Resources in the 2nd quarter valued at approximately $139,000. Finally, HighTower Advisors LLC acquired a new position in shares of Ramaco Resources in the 3rd quarter valued at approximately $148,000. Hedge funds and other institutional investors own 74.49% of the company’s stock.

Ramaco Resources Stock Up 3.7 %

NASDAQ:METC opened at $9.58 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.86 and a current ratio of 1.35. The company has a market capitalization of $503.24 million, a price-to-earnings ratio of 14.74 and a beta of 1.18. Ramaco Resources, Inc. has a one year low of $8.87 and a one year high of $20.70. The stock has a 50-day simple moving average of $11.27 and a 200 day simple moving average of $11.68.

Ramaco Resources (NASDAQ:METC) last issued its earnings results on Monday, November 4th. The energy company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The firm had revenue of $167.40 million during the quarter, compared to analyst estimates of $156.41 million. Ramaco Resources had a return on equity of 10.17% and a net margin of 5.35%. Ramaco Resources’s revenue was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.45 EPS. Sell-side analysts predict that Ramaco Resources, Inc. will post 0.05 EPS for the current fiscal year.

Ramaco Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a dividend of $0.1375 per share. The ex-dividend date was Monday, December 2nd. This represents a $0.55 annualized dividend and a yield of 5.74%. Ramaco Resources’s payout ratio is 84.62%.

Analysts Set New Price Targets

Separately, Jefferies Financial Group dropped their price target on shares of Ramaco Resources from $19.00 to $13.00 and set a “buy” rating for the company in a research note on Monday, January 6th.

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.