Bank of New York Mellon Corp Has $5.38 Million Stock Position in Ramaco Resources, Inc. (NASDAQ:METC)

Bank of New York Mellon Corp lifted its holdings in shares of Ramaco Resources, Inc. (NASDAQ:METC) by 42.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 524,009 shares of the energy company’s stock after buying an additional 155,169 shares during the period. Bank of New York Mellon Corp’s holdings in Ramaco Resources were worth $5,376,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Pingora Partners LLC raised its holdings in shares of Ramaco Resources by 330.2% during the 3rd quarter. Pingora Partners LLC now owns 3,700 shares of the energy company’s stock worth $43,000 after buying an additional 2,840 shares in the last quarter. Point72 DIFC Ltd acquired a new position in shares of Ramaco Resources during the 3rd quarter worth $45,000. Prairiewood Capital LLC bought a new stake in Ramaco Resources during the 4th quarter worth $103,000. HighTower Advisors LLC bought a new stake in Ramaco Resources during the 3rd quarter worth $148,000. Finally, SG Americas Securities LLC grew its position in Ramaco Resources by 68.8% during the 4th quarter. SG Americas Securities LLC now owns 16,076 shares of the energy company’s stock worth $165,000 after acquiring an additional 6,555 shares during the last quarter. Institutional investors and hedge funds own 74.49% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Benchmark restated a “buy” rating on shares of Ramaco Resources in a research report on Wednesday, March 12th. Jefferies Financial Group reduced their price objective on Ramaco Resources from $19.00 to $13.00 and set a “buy” rating on the stock in a research report on Monday, January 6th.

Ramaco Resources Trading Down 3.2 %

Shares of METC stock opened at $9.25 on Tuesday. The stock’s fifty day simple moving average is $9.59 and its 200 day simple moving average is $10.64. Ramaco Resources, Inc. has a twelve month low of $8.17 and a twelve month high of $17.23. The firm has a market capitalization of $485.89 million, a P/E ratio of 14.23 and a beta of 1.17. The company has a quick ratio of 0.86, a current ratio of 1.35 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 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 company had revenue of $170.90 million during the quarter, compared to the consensus estimate of $166.59 million. During the same quarter last year, the firm posted $0.24 EPS. The company’s quarterly revenue was down 15.7% on a year-over-year basis. As a group, sell-side analysts predict that Ramaco Resources, Inc. will post 0.05 EPS 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. Shareholders of record on Friday, May 30th will be given a $0.0688 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.97%. Ramaco Resources’s dividend payout ratio (DPR) is presently 500.00%.

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.