Ramaco Resources (NASDAQ:METC) Shares Down 4.8%

Shares of Ramaco Resources, Inc. (NASDAQ:METC) dropped 4.8% during mid-day trading on Tuesday . The company traded as low as $12.56 and last traded at $12.59. Approximately 158,006 shares changed hands during trading, a decline of 79% from the average daily volume of 752,395 shares. The stock had previously closed at $13.22.

Analyst Ratings Changes

A number of research firms have recently commented on METC. B. Riley cut their price objective on Ramaco Resources from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, May 10th. Benchmark restated a “buy” rating and issued a $20.00 price target on shares of Ramaco Resources in a report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $17.50.

Ramaco Resources Stock Performance

The stock has a 50 day simple moving average of $13.27 and a 200 day simple moving average of $15.25. The company has a quick ratio of 0.95, a current ratio of 1.23 and a debt-to-equity ratio of 0.18. The company has a market cap of $533.81 million, a price-to-earnings ratio of 10.33 and a beta of 1.09.

Ramaco Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be given a dividend of $0.138 per share. This represents a $0.55 annualized dividend and a yield of 4.58%. The ex-dividend date of this dividend is Friday, August 30th. Ramaco Resources’s dividend payout ratio (DPR) is presently 47.01%.

Insider Buying and Selling at Ramaco Resources

In other news, General Counsel Evan H. Jenkins bought 7,158 shares of Ramaco Resources stock in a transaction dated Wednesday, May 29th. The shares were acquired at an average cost of $13.97 per share, with a total value of $99,997.26. Following the completion of the transaction, the general counsel now owns 23,480 shares in the company, valued at approximately $328,015.60. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 45.98% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ramaco Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its stake in shares of Ramaco Resources by 21.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,380,601 shares of the energy company’s stock worth $17,186,000 after acquiring an additional 245,924 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Ramaco Resources by 8.9% in the 1st quarter. Vanguard Group Inc. now owns 1,591,146 shares of the energy company’s stock valued at $26,795,000 after purchasing an additional 130,593 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Ramaco Resources during the 4th quarter valued at approximately $2,023,000. Marshall Wace LLP grew its position in shares of Ramaco Resources by 287.2% during the second quarter. Marshall Wace LLP now owns 125,565 shares of the energy company’s stock worth $1,563,000 after buying an additional 93,139 shares in the last quarter. Finally, Arkfeld Wealth Strategies L.L.C. grew its position in shares of Ramaco Resources by 226.1% during the first quarter. Arkfeld Wealth Strategies L.L.C. now owns 133,502 shares of the energy company’s stock worth $2,111,000 after buying an additional 92,567 shares in the last quarter. 74.49% of the stock is owned by hedge funds and other institutional investors.

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.