Ramaco Resources, Inc. (NASDAQ:METC) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its position in shares of Ramaco Resources, Inc. (NASDAQ:METC) by 45.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 34,263 shares of the energy company’s stock after selling 29,054 shares during the period. Principal Financial Group Inc.’s holdings in Ramaco Resources were worth $401,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in METC. Vanguard Group Inc. raised its position in shares of Ramaco Resources by 8.9% during the first quarter. Vanguard Group Inc. now owns 1,591,146 shares of the energy company’s stock worth $26,795,000 after purchasing an additional 130,593 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Ramaco Resources by 21.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,380,601 shares of the energy company’s stock valued at $17,186,000 after purchasing an additional 245,924 shares during the period. American Century Companies Inc. increased its stake in Ramaco Resources by 14.9% in the 2nd quarter. American Century Companies Inc. now owns 694,615 shares of the energy company’s stock worth $8,648,000 after purchasing an additional 90,014 shares in the last quarter. Millennium Management LLC raised its holdings in Ramaco Resources by 22.4% during the 2nd quarter. Millennium Management LLC now owns 435,007 shares of the energy company’s stock worth $5,416,000 after buying an additional 79,687 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Ramaco Resources by 5.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 383,422 shares of the energy company’s stock worth $4,774,000 after buying an additional 18,393 shares during the period. Institutional investors and hedge funds own 74.49% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. B. Riley decreased their target price on Ramaco Resources from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. Benchmark restated a “buy” rating and set a $20.00 price objective on shares of Ramaco Resources in a research report on Thursday, August 29th.

Ramaco Resources Trading Down 4.5 %

Shares of NASDAQ METC opened at $12.56 on Monday. The business has a 50 day simple moving average of $11.17 and a 200 day simple moving average of $12.28. Ramaco Resources, Inc. has a 52 week low of $9.03 and a 52 week high of $22.70. The stock has a market cap of $659.78 million, a price-to-earnings ratio of 19.32 and a beta of 1.08. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.86 and a current ratio of 1.35.

Ramaco Resources (NASDAQ:METC) last released its quarterly earnings results on Monday, November 4th. The energy company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The company had revenue of $167.40 million for the quarter, compared to the consensus estimate of $156.41 million. Ramaco Resources had a return on equity of 10.17% and a net margin of 5.35%. The business’s revenue was down 10.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.45 EPS. On average, research analysts predict that Ramaco Resources, Inc. will post 0.86 earnings per share 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. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.1375 per share. This represents a $0.55 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date of this dividend is Monday, December 2nd. Ramaco Resources’s payout ratio is 84.62%.

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.