Royce & Associates LP Takes Position in Ramaco Resources, Inc. (NASDAQ:METC)

Royce & Associates LP acquired a new stake in shares of Ramaco Resources, Inc. (NASDAQ:METC) during the fourth quarter, HoldingsChannel reports. The fund acquired 9,178 shares of the energy company’s stock, valued at approximately $94,000.

A number of other large investors have also recently made changes to their positions in the stock. Pingora Partners LLC raised its stake in Ramaco Resources by 330.2% during the 3rd quarter. Pingora Partners LLC now owns 3,700 shares of the energy company’s stock valued at $43,000 after purchasing an additional 2,840 shares during the period. Point72 DIFC Ltd bought a new stake in Ramaco Resources during the 3rd quarter valued at approximately $45,000. AlphaQuest LLC bought a new stake in Ramaco Resources during the 4th quarter valued at approximately $50,000. Campbell Capital Management Inc. bought a new stake in Ramaco Resources during the 4th quarter valued at approximately $51,000. Finally, Jones Financial Companies Lllp bought a new stake in Ramaco Resources during the 4th quarter valued at approximately $56,000. 74.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on METC. Jefferies Financial Group decreased their target price on Ramaco Resources from $19.00 to $13.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Benchmark reissued a “buy” rating on shares of Ramaco Resources in a research note on Wednesday, March 12th.

Ramaco Resources Stock Performance

NASDAQ:METC opened at $8.79 on Friday. The company has a market cap of $461.73 million, a price-to-earnings ratio of 13.52 and a beta of 1.17. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.35 and a quick ratio of 0.86. The stock’s 50 day simple moving average is $9.58 and its two-hundred day simple moving average is $10.55. Ramaco Resources, Inc. has a 1 year low of $8.17 and a 1 year high of $17.23.

Ramaco Resources (NASDAQ:METC) last released its earnings results on Monday, March 10th. The energy company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.36). The company had revenue of $170.90 million for the quarter, compared to the consensus estimate of $166.59 million. Ramaco Resources had a net margin of 5.35% and a return on equity of 10.17%. The business’s revenue for the quarter was down 15.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.24 EPS. As a group, equities analysts anticipate that Ramaco Resources, Inc. will post 0.05 earnings per share for the current fiscal year.

Ramaco Resources Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be given a dividend of $0.0688 per share. This represents a $0.28 annualized dividend and a dividend yield of 3.13%. Ramaco Resources’s dividend payout ratio is currently 500.00%.

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.