Wedge Capital Management L L P NC Sells 44,916 Shares of Ramaco Resources, Inc. (NASDAQ:METC)

Wedge Capital Management L L P NC cut its stake in shares of Ramaco Resources, Inc. (NASDAQ:METC) by 25.4% in the 1st quarter, HoldingsChannel reports. The fund owned 132,165 shares of the energy company’s stock after selling 44,916 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Ramaco Resources were worth $1,088,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Principal Financial Group Inc. grew its holdings in Ramaco Resources by 11.0% in the 4th quarter. Principal Financial Group Inc. now owns 38,017 shares of the energy company’s stock worth $390,000 after acquiring an additional 3,754 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Ramaco Resources during the fourth quarter worth about $224,000. Cetera Investment Advisers boosted its holdings in shares of Ramaco Resources by 27.3% during the fourth quarter. Cetera Investment Advisers now owns 12,872 shares of the energy company’s stock worth $132,000 after purchasing an additional 2,760 shares during the period. New York State Common Retirement Fund grew its stake in shares of Ramaco Resources by 12.5% in the fourth quarter. New York State Common Retirement Fund now owns 17,988 shares of the energy company’s stock worth $185,000 after purchasing an additional 2,000 shares during the last quarter. Finally, MetLife Investment Management LLC increased its holdings in Ramaco Resources by 13.9% during the 4th quarter. MetLife Investment Management LLC now owns 16,189 shares of the energy company’s stock valued at $166,000 after purchasing an additional 1,970 shares during the period. 74.49% of the stock is currently owned by institutional investors.

Ramaco Resources Price Performance

Shares of NASDAQ METC opened at $10.08 on Thursday. Ramaco Resources, Inc. has a 1 year low of $6.24 and a 1 year high of $15.35. The stock has a market capitalization of $551.42 million, a P/E ratio of 15.51 and a beta of 1.18. The company’s 50-day moving average is $9.24 and its 200 day moving average is $9.76. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.35 and a quick ratio of 0.86.

Ramaco Resources (NASDAQ:METC) last posted its quarterly earnings data on Monday, May 12th. The energy company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.10. Ramaco Resources had a return on equity of 10.17% and a net margin of 5.35%. The business had revenue of $115.61 million for the quarter, compared to analysts’ expectations of $137.10 million. During the same period in the previous year, the firm posted $0.23 EPS. The business’s revenue was down 22.0% on a year-over-year basis. On average, sell-side analysts expect that Ramaco Resources, Inc. will post 0.05 earnings per share for the current year.

Ramaco Resources Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors 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 annualized dividend and a dividend yield of 2.73%. Ramaco Resources’s dividend payout ratio is presently -337.50%.

Insider Activity at Ramaco Resources

In other news, major shareholder Yorktown Energy Partners Xi, L sold 83,871 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $8.61, for a total value of $722,129.31. Following the sale, the insider now directly owns 1,059,909 shares of the company’s stock, valued at $9,125,816.49. The trade was a 7.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Yorktown Xi Associates Llc sold 89,501 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 1,024,870 shares in the company, valued at $8,291,198.30. The trade was a 8.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 922,582 shares of company stock worth $7,898,023 over the last ninety days. 36.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have weighed in on METC. Wall Street Zen cut Ramaco Resources from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Benchmark decreased their target price on Ramaco Resources from $18.00 to $14.00 and set a “buy” rating for the company in a report on Tuesday, May 13th. Finally, B. Riley cut their price target on shares of Ramaco Resources from $18.00 to $14.00 and set a “buy” rating on the stock in a report on Friday, April 11th.

Ramaco Resources 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.