Victory Capital Management Inc. Has $1.50 Million Stock Position in Ramaco Resources, Inc. (NASDAQ:METC)

Victory Capital Management Inc. boosted its stake in shares of Ramaco Resources, Inc. (NASDAQ:METC) by 18.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 127,965 shares of the energy company’s stock after buying an additional 19,575 shares during the period. Victory Capital Management Inc.’s holdings in Ramaco Resources were worth $1,497,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of METC. Innealta Capital LLC purchased a new position in shares of Ramaco Resources in the second quarter worth approximately $28,000. Exchange Traded Concepts LLC boosted its stake in Ramaco Resources by 18.2% in the 3rd quarter. Exchange Traded Concepts LLC now owns 45,889 shares of the energy company’s stock worth $537,000 after purchasing an additional 7,068 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in Ramaco Resources during the 2nd quarter worth approximately $94,000. Principal Financial Group Inc. raised its stake in Ramaco Resources by 15.7% during the 2nd quarter. Principal Financial Group Inc. now owns 63,317 shares of the energy company’s stock valued at $788,000 after purchasing an additional 8,585 shares during the period. Finally, Koss Olinger Consulting LLC purchased a new stake in shares of Ramaco Resources in the second quarter valued at $134,000. Institutional investors and hedge funds own 74.49% of the company’s stock.

Ramaco Resources Trading Down 1.0 %

Ramaco Resources stock opened at $12.44 on Tuesday. Ramaco Resources, Inc. has a 12 month low of $9.03 and a 12 month high of $22.70. The company has a quick ratio of 0.86, a current ratio of 1.35 and a debt-to-equity ratio of 0.23. The stock has a market cap of $653.47 million, a P/E ratio of 19.14 and a beta of 1.08. The company’s fifty day simple moving average is $11.17 and its 200-day simple moving average is $12.28.

Ramaco Resources (NASDAQ:METC) last issued its earnings results on Monday, November 4th. The energy company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). Ramaco Resources had a net margin of 5.35% and a return on equity of 10.17%. The firm had revenue of $167.40 million during the quarter, compared to analysts’ expectations of $156.41 million. During the same quarter last year, the firm earned $0.45 EPS. The business’s revenue for the quarter was down 10.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Ramaco Resources, Inc. will post 0.86 EPS for the current fiscal year.

Ramaco Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.1375 per share. This represents a $0.55 annualized dividend and a yield of 4.42%. The ex-dividend date of this dividend is Monday, December 2nd. Ramaco Resources’s payout ratio is presently 84.62%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on METC shares. B. Riley lowered their price target on Ramaco Resources from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. Benchmark reaffirmed a “buy” rating and set a $20.00 target price on shares of Ramaco Resources in a research note on Thursday, August 29th.

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.