JPMorgan Chase & Co. Buys 33,788 Shares of Ramaco Resources, Inc. (NASDAQ:METC)

JPMorgan Chase & Co. increased its position in Ramaco Resources, Inc. (NASDAQ:METC) by 97.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 68,520 shares of the energy company’s stock after purchasing an additional 33,788 shares during the quarter. JPMorgan Chase & Co.’s holdings in Ramaco Resources were worth $802,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP acquired a new stake in Ramaco Resources in the 3rd quarter valued at $22,127,000. Dimensional Fund Advisors LP boosted its stake in Ramaco Resources by 21.7% during 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 last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Ramaco Resources by 231.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 262,354 shares of the energy company’s stock worth $3,070,000 after purchasing an additional 183,163 shares during the last quarter. Marshall Wace LLP raised its position in Ramaco Resources by 287.2% in the 2nd quarter. Marshall Wace LLP now owns 125,565 shares of the energy company’s stock valued at $1,563,000 after buying an additional 93,139 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in shares of Ramaco Resources by 22.4% in the second quarter. Millennium Management LLC now owns 435,007 shares of the energy company’s stock valued at $5,416,000 after purchasing an additional 79,687 shares during the last quarter. 74.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group decreased their price target on Ramaco Resources from $19.00 to $13.00 and set a “buy” rating for the company in a research report on Monday, January 6th.

Ramaco Resources Stock Down 0.5 %

METC opened at $10.14 on Monday. The stock has a market cap of $532.65 million, a price-to-earnings ratio of 15.60 and a beta of 1.18. The company’s 50-day moving average price is $11.03 and its two-hundred day moving average price is $11.48. The company has a quick ratio of 0.86, a current ratio of 1.35 and a debt-to-equity ratio of 0.23. Ramaco Resources, Inc. has a twelve month low of $8.87 and a twelve month high of $20.70.

Ramaco Resources (NASDAQ:METC) last released its quarterly earnings data on Monday, November 4th. The energy company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The business had revenue of $167.40 million for the quarter, compared to analysts’ expectations of $156.41 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 10.5% compared to the same quarter last year. During the same period last year, the company earned $0.45 earnings per share. As a group, equities analysts expect that Ramaco Resources, Inc. will post 0.05 earnings per share for the current year.

Ramaco Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a $0.1375 dividend. The ex-dividend date was Monday, December 2nd. This represents a $0.55 dividend on an annualized basis and a yield of 5.42%. Ramaco Resources’s dividend payout ratio is 84.62%.

Ramaco Resources Company 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.