Discovery Capital Management LLC CT Invests $106,000 in Ramaco Resources, Inc. (NASDAQ:METCB)

Discovery Capital Management LLC CT acquired a new position in Ramaco Resources, Inc. (NASDAQ:METCB) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,686 shares of the company’s stock, valued at approximately $106,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. JPMorgan Chase & Co. grew its holdings in shares of Ramaco Resources by 191.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 9,284 shares of the company’s stock worth $100,000 after purchasing an additional 6,103 shares in the last quarter. Wedge Capital Management L L P NC boosted its stake in Ramaco Resources by 395.3% during the fourth quarter. Wedge Capital Management L L P NC now owns 205,270 shares of the company’s stock worth $2,028,000 after buying an additional 163,828 shares in the last quarter. Barclays PLC increased its holdings in Ramaco Resources by 321.3% in the 3rd quarter. Barclays PLC now owns 7,184 shares of the company’s stock valued at $77,000 after buying an additional 5,479 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Ramaco Resources by 11.5% in the 4th quarter. Bank of New York Mellon Corp now owns 23,780 shares of the company’s stock valued at $235,000 after buying an additional 2,458 shares in the last quarter. Finally, South Dakota Investment Council lifted its holdings in shares of Ramaco Resources by 2.4% during the 4th quarter. South Dakota Investment Council now owns 92,402 shares of the company’s stock worth $913,000 after acquiring an additional 2,140 shares during the period. Institutional investors own 9.63% of the company’s stock.

Ramaco Resources Stock Up 2.3 %

NASDAQ METCB opened at $7.11 on Tuesday. The stock has a market cap of $383.94 million, a P/E ratio of 20.91 and a beta of 0.92. Ramaco Resources, Inc. has a twelve month low of $6.85 and a twelve month high of $12.44. The company’s 50-day simple moving average is $8.75 and its 200 day simple moving average is $9.70.

Ramaco Resources (NASDAQ:METCB) last issued its earnings results on Monday, March 10th. The company reported $0.06 earnings per share (EPS) for the quarter. The company had revenue of $170.89 million during the quarter.

Ramaco Resources Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.1971 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.79 annualized dividend and a dividend yield of 11.09%. Ramaco Resources’s dividend payout ratio is presently 229.41%.

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.