Truist Financial Corp purchased a new position in Ramaco Resources, Inc. (NASDAQ:METC – Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 24,170 shares of the energy company’s stock, valued at approximately $415,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in METC. Brandywine Global Investment Management LLC acquired a new stake in Ramaco Resources in the third quarter worth $1,450,000. Semanteon Capital Management LP bought a new stake in Ramaco Resources in the 4th quarter valued at about $830,000. Arkfeld Wealth Strategies L.L.C. acquired a new position in Ramaco Resources during the 4th quarter valued at about $703,000. Jump Financial LLC bought a new position in Ramaco Resources in the 3rd quarter worth about $397,000. Finally, Cornercap Investment Counsel Inc. acquired a new stake in shares of Ramaco Resources in the fourth quarter valued at approximately $436,000. Institutional investors and hedge funds own 74.49% of the company’s stock.
Ramaco Resources Trading Up 2.0 %
Shares of NASDAQ:METC opened at $13.30 on Friday. Ramaco Resources, Inc. has a twelve month low of $7.26 and a twelve month high of $22.70. The company has a current ratio of 1.23, a quick ratio of 0.90 and a debt-to-equity ratio of 0.18. The firm has a market cap of $588.66 million, a P/E ratio of 11.37 and a beta of 1.15. The company has a 50 day moving average of $15.81 and a 200-day moving average of $16.95.
Ramaco Resources (NASDAQ:METC – Get Free Report) last released its earnings results on Thursday, March 7th. The energy company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.07). The firm had revenue of $202.73 million during the quarter, compared to analyst estimates of $182.60 million. Ramaco Resources had a return on equity of 17.19% and a net margin of 8.44%. As a group, analysts anticipate that Ramaco Resources, Inc. will post 1.31 earnings per share for the current fiscal year.
Ramaco Resources Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Saturday, June 15th. Investors of record on Saturday, June 1st will be paid a dividend of $0.138 per share. The ex-dividend date is Friday, May 31st. This represents a $0.55 annualized dividend and a yield of 4.15%. Ramaco Resources’s dividend payout ratio is currently 47.01%.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on METC. B. Riley reduced their price objective on Ramaco Resources from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Friday, May 10th. Benchmark reduced their price target on Ramaco Resources from $24.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, May 10th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $17.50.
Read Our Latest Stock Report on METC
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.
Featured Stories
Receive News & Ratings for Ramaco Resources Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Ramaco Resources and related companies with MarketBeat.com’s FREE daily email newsletter.
Source: defenseworld.net
