Caxton Associates LP Makes New $315,000 Investment in Ramaco Resources, Inc. (NASDAQ:METC)

Caxton Associates LP bought a new position in shares of Ramaco Resources, Inc. (NASDAQ:METC) during the 1st quarter, Holdings Channel.com reports. The fund bought 18,728 shares of the energy company’s stock, valued at approximately $315,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in METC. SG Americas Securities LLC acquired a new position in Ramaco Resources during the 4th quarter worth approximately $328,000. Raymond James & Associates purchased a new stake in shares of Ramaco Resources during the 4th quarter worth approximately $290,000. Global Retirement Partners LLC purchased a new stake in shares of Ramaco Resources during the 4th quarter worth approximately $36,000. Strs Ohio purchased a new stake in shares of Ramaco Resources during the 4th quarter worth approximately $146,000. Finally, Cornercap Investment Counsel Inc. purchased a new stake in shares of Ramaco Resources during the 4th quarter worth approximately $436,000. Institutional investors and hedge funds own 74.49% of the company’s stock.

Insider Activity at Ramaco Resources

In related news, General Counsel Evan H. Jenkins bought 7,158 shares of Ramaco Resources stock in a transaction that occurred on Wednesday, May 29th. The shares were purchased at an average price of $13.97 per share, with a total value of $99,997.26. Following the purchase, the general counsel now owns 23,480 shares in the company, valued at $328,015.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 45.98% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on METC. B. Riley decreased their price target on Ramaco Resources from $24.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Benchmark decreased their price target on Ramaco Resources from $24.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $17.50.

Ramaco Resources Price Performance

METC stock traded down $0.27 on Tuesday, reaching $13.17. The company had a trading volume of 132,623 shares, compared to its average volume of 766,059. Ramaco Resources, Inc. has a 1 year low of $7.65 and a 1 year high of $22.70. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.95 and a current ratio of 1.23. The company’s fifty day moving average is $13.63 and its 200 day moving average is $15.84. The company has a market cap of $699.20 million, a P/E ratio of 11.49 and a beta of 1.09.

Ramaco Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, June 15th. Investors of record on Saturday, June 1st were paid a $0.138 dividend. This represents a $0.55 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date was Friday, May 31st. Ramaco Resources’s payout ratio is currently 47.01%.

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.