Discovery Capital Management LLC CT Takes $9.29 Million Position in Ramaco Resources, Inc. (NASDAQ:METC)

Discovery Capital Management LLC CT bought a new position in Ramaco Resources, Inc. (NASDAQ:METC) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 905,372 shares of the energy company’s stock, valued at approximately $9,289,000. Discovery Capital Management LLC CT owned about 1.72% of Ramaco Resources at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of METC. EntryPoint Capital LLC purchased a new stake in Ramaco Resources in the fourth quarter worth about $168,000. American Century Companies Inc. boosted its position in shares of Ramaco Resources by 10.8% during the fourth quarter. American Century Companies Inc. now owns 870,957 shares of the energy company’s stock valued at $8,936,000 after purchasing an additional 84,734 shares in the last quarter. Royce & Associates LP purchased a new stake in Ramaco Resources in the fourth quarter worth $94,000. Campbell Capital Management Inc. purchased a new stake in Ramaco Resources in the fourth quarter worth $51,000. Finally, Travelers Companies Inc. bought a new position in Ramaco Resources in the fourth quarter worth $145,000. Hedge funds and other institutional investors own 74.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on METC. Jefferies Financial Group cut 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 report on Wednesday, March 12th.

Ramaco Resources Stock Performance

METC stock opened at $8.23 on Tuesday. The stock has a market capitalization of $365.44 million, a PE ratio of 12.66 and a beta of 1.17. The stock’s 50 day simple moving average is $9.45 and its 200 day simple moving average is $10.49. Ramaco Resources, Inc. has a 12-month low of $7.87 and a 12-month high of $17.23. The company has a current ratio of 1.35, a quick ratio of 0.86 and a debt-to-equity ratio of 0.23.

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

Ramaco Resources Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be paid a $0.0688 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.34%. Ramaco Resources’s dividend payout ratio is presently 245.45%.

Insider Activity

In other news, major shareholder Yorktown Xi Associates Llc sold 89,501 shares of the firm’s stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $8.09, for a total value of $724,063.09. Following the transaction, the insider now directly owns 1,024,870 shares in the company, valued at $8,291,198.30. This trade represents a 8.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Yorktown Energy Partners Xi, L sold 98,274 shares of Ramaco Resources stock in a transaction on Monday, March 24th. The stock was sold at an average price of $8.85, for a total value of $869,724.90. Following the completion of the sale, the insider now directly owns 1,052,404 shares of the company’s stock, valued at $9,313,775.40. The trade was a 8.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 922,582 shares of company stock valued at $7,898,023 over the last three months. Insiders own 41.20% of the company’s stock.

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.