Navellier & Associates Inc. Cuts Position in Ramaco Resources, Inc. (NASDAQ:METC)

Navellier & Associates Inc. lessened its stake in Ramaco Resources, Inc. (NASDAQ:METCGet Rating) by 3.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,117 shares of the energy company’s stock after selling 1,914 shares during the quarter. Navellier & Associates Inc.’s holdings in Ramaco Resources were worth $698,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in METC. Cambria Investment Management L.P. purchased a new position in Ramaco Resources during the 2nd quarter valued at about $327,000. Monarch Partners Asset Management LLC increased its holdings in Ramaco Resources by 51.0% during the 1st quarter. Monarch Partners Asset Management LLC now owns 181,970 shares of the energy company’s stock valued at $2,875,000 after acquiring an additional 61,485 shares in the last quarter. Comerica Bank purchased a new position in Ramaco Resources during the 2nd quarter valued at about $1,736,000. Hamilton Lane Advisors LLC purchased a new position in Ramaco Resources during the 1st quarter valued at about $514,000. Finally, Walleye Capital LLC purchased a new position in Ramaco Resources during the 1st quarter valued at about $479,000. Hedge funds and other institutional investors own 67.48% of the company’s stock.

Ramaco Resources Trading Up 0.8 %

Shares of Ramaco Resources stock traded up $0.09 during mid-day trading on Thursday, hitting $11.21. 277,514 shares of the stock were exchanged, compared to its average volume of 581,959. Ramaco Resources, Inc. has a twelve month low of $8.43 and a twelve month high of $21.73. The stock has a market capitalization of $494.59 million, a price-to-earnings ratio of 4.18 and a beta of 1.05. The company has a 50-day simple moving average of $10.44 and a 200 day simple moving average of $11.91. The company has a current ratio of 0.94, a quick ratio of 0.68 and a debt-to-equity ratio of 0.21.

Ramaco Resources (NASDAQ:METCGet Rating) last released its quarterly earnings results on Monday, November 7th. The energy company reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.46). Ramaco Resources had a return on equity of 47.39% and a net margin of 23.22%. The firm had revenue of $136.93 million for the quarter, compared to analyst estimates of $167.00 million. Research analysts forecast that Ramaco Resources, Inc. will post 3.25 EPS for the current year.

Ramaco Resources Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be paid a dividend of $0.1133 per share. The ex-dividend date is Wednesday, November 30th. This represents a $0.45 annualized dividend and a dividend yield of 4.04%. Ramaco Resources’s dividend payout ratio is currently 16.79%.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets raised their target price on shares of Ramaco Resources from $10.00 to $14.00 and gave the company a “market perform” rating in a report on Wednesday, November 9th.

Ramaco Resources Company Profile

(Get Rating)

Ramaco Resources, Inc produces and sells metallurgical coal. The company's development portfolio includes the Elk Creek project consisting of approximately 20,200 acres of controlled mineral and 16 seams located in southern West Virginia; the Berwind property comprising approximately 41,300 acres of controlled mineral and an area of Squire Jim seam coal deposits, which is situated on the border of West Virginia and Virginia; the Knox Creek property consisting of approximately 62,100 acres of controlled mineral that is located in Virginia; and the RAM Mine property comprising approximately 1,570 acres of controlled mineral, which is situated in southwestern Pennsylvania.

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Institutional Ownership by Quarter for Ramaco Resources (NASDAQ:METC)

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