Harbour Capital Advisors LLC Purchases New Position in Ramaco Resources, Inc. (NASDAQ:METC)

Harbour Capital Advisors LLC acquired a new position in shares of Ramaco Resources, Inc. (NASDAQ:METC) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 52,080 shares of the energy company’s stock, valued at approximately $540,000. Harbour Capital Advisors LLC owned about 0.10% of Ramaco Resources as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Pingora Partners LLC increased its position in Ramaco Resources by 330.2% during the third quarter. Pingora Partners LLC now owns 3,700 shares of the energy company’s stock worth $43,000 after acquiring an additional 2,840 shares during the period. Point72 DIFC Ltd acquired a new position in shares of Ramaco Resources during the 3rd quarter worth approximately $45,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Ramaco Resources during the second quarter worth approximately $94,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Ramaco Resources in the second quarter valued at approximately $139,000. Finally, HighTower Advisors LLC bought a new stake in shares of Ramaco Resources in the third quarter valued at approximately $148,000. 74.49% of the stock is currently owned by institutional investors and hedge funds.

Ramaco Resources Price Performance

METC stock opened at $9.67 on Tuesday. The stock has a market cap of $507.96 million, a price-to-earnings ratio of 14.88 and a beta of 1.18. 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 company has a 50 day simple moving average of $11.47 and a 200 day simple moving average of $11.78. Ramaco Resources, Inc. has a 1 year low of $8.87 and a 1 year high of $20.70.

Ramaco Resources (NASDAQ:METC) last announced its quarterly 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). The firm had revenue of $167.40 million during the quarter, compared to the consensus estimate of $156.41 million. Ramaco Resources had a net margin of 5.35% and a return on equity of 10.17%. The firm’s revenue was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.45 earnings per share. Research analysts anticipate that Ramaco Resources, Inc. will post 0.86 EPS for the current fiscal year.

Ramaco Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a $0.1375 dividend. This represents a $0.55 annualized dividend and a dividend yield of 5.69%. The ex-dividend date of this dividend was Monday, December 2nd. Ramaco Resources’s dividend payout ratio is currently 84.62%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on METC shares. Jefferies Financial Group dropped their price objective on Ramaco Resources from $19.00 to $13.00 and set a “buy” rating for the company in a report on Monday, January 6th. B. Riley cut their price objective on shares of Ramaco Resources from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th.

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.