Pingora Partners LLC Acquires 2,840 Shares of Ramaco Resources, Inc. (NASDAQ:METC)

Pingora Partners LLC raised its stake in shares of Ramaco Resources, Inc. (NASDAQ:METC) by 330.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 3,700 shares of the energy company’s stock after purchasing an additional 2,840 shares during the period. Pingora Partners LLC’s holdings in Ramaco Resources were worth $43,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Ramaco Resources by 8.9% in the first quarter. Vanguard Group Inc. now owns 1,591,146 shares of the energy company’s stock worth $26,795,000 after buying an additional 130,593 shares during the period. Janus Henderson Group PLC lifted its position in Ramaco Resources by 19.3% during the first quarter. Janus Henderson Group PLC now owns 98,063 shares of the energy company’s stock valued at $1,651,000 after acquiring an additional 15,858 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Ramaco Resources by 5.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 383,422 shares of the energy company’s stock worth $4,774,000 after buying an additional 18,393 shares during the last quarter. Innealta Capital LLC acquired a new position in shares of Ramaco Resources during the second quarter valued at about $28,000. Finally, Principal Financial Group Inc. grew its stake in Ramaco Resources by 15.7% during the 2nd quarter. Principal Financial Group Inc. now owns 63,317 shares of the energy company’s stock valued at $788,000 after purchasing an additional 8,585 shares during the last quarter. 74.49% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Benchmark reissued a “buy” rating and set a $20.00 price target on shares of Ramaco Resources in a report on Thursday, August 29th. B. Riley reduced their target price on shares of Ramaco Resources from $19.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th.

Ramaco Resources Trading Up 3.9 %

NASDAQ METC opened at $12.66 on Wednesday. The company has a market capitalization of $665.03 million, a price-to-earnings ratio of 19.48 and a beta of 1.14. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.35 and a quick ratio of 0.86. Ramaco Resources, Inc. has a 12 month low of $9.03 and a 12 month high of $22.70. The firm’s fifty day moving average price is $11.51 and its 200 day moving average price is $12.26.

Ramaco Resources (NASDAQ:METC) last announced its earnings results on Monday, November 4th. The energy company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). Ramaco Resources had a net margin of 5.35% and a return on equity of 10.17%. The business had revenue of $167.40 million during the quarter, compared to analysts’ expectations of $156.41 million. During the same period in the previous year, the company posted $0.45 earnings per share. Ramaco Resources’s quarterly revenue was down 10.5% on a year-over-year basis. On average, sell-side analysts expect that Ramaco Resources, Inc. will post 0.86 earnings per share for the current fiscal year.

Ramaco Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $0.1375 per share. This represents a $0.55 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date of this dividend is Monday, December 2nd. Ramaco Resources’s dividend payout ratio is presently 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.