1 day Ago By Defense World Staff
Renaissance Technologies LLC boosted its stake in Ramaco Resources, Inc. (NASDAQ:METC – Free Report) by 31.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission.
The institutional investor owned 119,800 shares of the energy company’s stock after buying an additional 28,400 shares during the quarter. Renaissance Technologies LLC owned approximately 0.23% of Ramaco Resources worth $1,229,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Discovery Capital Management LLC CT acquired a new stake in shares of Ramaco Resources during the 4th quarter valued at about $9,289,000. Wells Fargo & Company MN raised its position in Ramaco Resources by 39.
0% during the fourth quarter. Wells Fargo & Company MN now owns 797,283 shares of the energy company’s stock valued at $8,180,000 after acquiring an additional 223,682 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Ramaco Resources by 42.
1% in the fourth quarter. Bank of New York Mellon Corp now owns 524,009 shares of the energy company’s stock valued at $5,376,000 after acquiring an additional 155,169 shares during the last quarter. Acuitas Investments LLC grew its position in Ramaco Resources by 153.
1% in the fourth quarter. Acuitas Investments LLC now owns 152,097 shares of the energy company’s stock worth $1,561,000 after acquiring an additional 92,008 shares in the last quarter. Finally, American Century Companies Inc.
increased its stake in shares of Ramaco Resources by 10.8% during the 4th quarter. American Century Companies Inc.
now owns 870,957 shares of the energy company’s stock worth $8,936,000 after purchasing an additional 84,734 shares during the last quarter. Hedge funds and other institutional investors own 74.49% of the company’s stock.
Ramaco Resources Stock Up 1.0 %METC stock opened at $10.06 on Wednesday.
The stock has a market capitalization of $543.24 million, a price-to-earnings ratio of 15.48 and a beta of 1.
14. The company has a 50-day moving average of $8.92 and a two-hundred day moving average of $10.
14. Ramaco Resources, Inc. has a 52-week low of $6.
30 and a 52-week high of $16.61. 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 – Get Free Report) last announced its earnings results on Monday, March 10th. The energy company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.
42 by ($0.36). The business had revenue of $170.
90 million for the quarter, compared to the consensus estimate of $166.59 million. Ramaco Resources had a net margin of 5.
35% and a return on equity of 10.17%. Ramaco Resources’s revenue for the quarter was down 15.
7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.24 EPS.
As a group, equities research analysts anticipate that Ramaco Resources, Inc. will post 0.05 EPS for the current year.
Ramaco Resources Cuts DividendThe business also recently announced 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.
This represents a $0.28 dividend on an annualized basis and a yield of 2.73%.
Ramaco Resources’s dividend payout ratio (DPR) is currently 245.45%. Insider Activity at Ramaco ResourcesIn other Ramaco Resources news, major shareholder Yorktown Energy Partners Xi, L sold 98,274 shares of the company’s stock in a transaction that occurred on Monday, March 24th.
The stock was sold at an average price of $8.85, for a total value of $869,724.90.
Following the completion of the transaction, the insider now owns 1,052,404 shares of the company’s stock, valued at $9,313,775.40. This represents a 8.
54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Peter A.
Leidel sold 225,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $8.08, for a total value of $1,818,000.
00. Following the sale, the director now owns 677,403 shares in the company, valued at approximately $5,473,416.24.
This represents a 24.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here.
Insiders sold a total of 922,582 shares of company stock worth $7,898,023 in the last ninety days. 41.20% of the stock is currently owned by insiders.
Wall Street Analyst Weigh InA number of equities research analysts recently issued reports on the stock. Jefferies Financial Group decreased their price objective on shares of Ramaco Resources from $19.00 to $13.
00 and set a “buy” rating for the company in a report on Monday, January 6th. B. Riley lowered their price objective on Ramaco Resources from $18.
00 to $14.00 and set a “buy” rating on the stock in a report on Friday, April 11th. Finally, Benchmark restated a “buy” rating on shares of Ramaco Resources in a report on Wednesday, March 12th.
View Our Latest Stock Analysis on Ramaco ResourcesRamaco Resources Company Profile (Free Report)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 StoriesFive stocks we like better than Ramaco ResourcesMost active stocks: Dollar volume vs share volumeDon’t Be Fooled by the Bounce: The Market Storm Isn’t Over YetETF Screener: Uses and Step-by-Step Guide Coca-Cola Company Stock Can Bubble to New Highs This YearUtilities Stocks Explained – How and Why to Invest in Utilities3 Stocks Lifting 2025 Guidance Despite Market Jitters.
