Bosun Asset Management LLC Acquires 21,052 Shares of Ramaco Resources, Inc. (NASDAQ:METC)

Bosun Asset Management LLC increased its stake in Ramaco Resources, Inc. (NASDAQ:METC) by 91.5% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 44,048 shares of the energy company’s stock after buying an additional 21,052 shares during the quarter. Bosun Asset Management LLC’s holdings in Ramaco Resources were worth $452,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in METC. AlphaQuest LLC purchased a new position in Ramaco Resources in the fourth quarter valued at about $50,000. Campbell Capital Management Inc. bought a new stake in shares of Ramaco Resources in the 4th quarter worth approximately $51,000. Jones Financial Companies Lllp bought a new stake in shares of Ramaco Resources in the 4th quarter worth approximately $56,000. BNP Paribas Financial Markets purchased a new position in Ramaco Resources in the fourth quarter valued at approximately $80,000. Finally, Royce & Associates LP bought a new position in Ramaco Resources during the fourth quarter valued at $94,000. Institutional investors own 74.49% of the company’s stock.

Ramaco Resources Trading Down 1.9 %

Shares of Ramaco Resources stock opened at $9.81 on Tuesday. The company’s 50-day moving average price is $8.94 and its 200-day moving average price is $10.11. The company has a market cap of $435.64 million, a price-to-earnings ratio of 15.09 and a beta of 1.28. Ramaco Resources, Inc. has a 12-month low of $6.30 and a 12-month high of $16.52. 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 released its quarterly earnings results on Monday, March 10th. The energy company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.36). The firm had revenue of $170.90 million during the quarter, compared to the consensus estimate of $166.59 million. Ramaco Resources had a return on equity of 10.17% and a net margin of 5.35%. The company’s revenue for the quarter was down 15.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.24 EPS. On average, equities analysts expect that Ramaco Resources, Inc. will post 0.05 earnings per share for the current fiscal year.

Ramaco Resources Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be given a dividend of $0.0688 per share. The ex-dividend date is Friday, May 30th. This represents a $0.28 dividend on an annualized basis and a yield of 2.80%. Ramaco Resources’s payout ratio is 245.45%.

Insiders Place Their Bets

In related news, Director Peter A. Leidel sold 180,936 shares of the firm’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $8.82, for a total value of $1,595,855.52. Following the completion of the sale, the director now owns 708,001 shares of the company’s stock, valued at $6,244,568.82. This trade represents a 20.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Yorktown Xi Associates Llc sold 89,501 shares of the firm’s stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $8.09, for a total transaction of $724,063.09. Following the completion of the sale, the insider now directly owns 1,024,870 shares of the company’s stock, valued at approximately $8,291,198.30. This represents a 8.03 % decrease in their ownership of the stock. 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.

Analyst Ratings Changes

Several brokerages have issued reports on METC. B. Riley lowered their target price on Ramaco Resources from $18.00 to $14.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. Jefferies Financial Group lowered their price target on shares of Ramaco Resources from $19.00 to $13.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, Benchmark reaffirmed a “buy” rating on shares of Ramaco Resources in a report on Wednesday, March 12th.

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.