Archer Investment Corp Takes $26,000 Position in Ramaco Resources, Inc. (NASDAQ:METC)

Archer Investment Corp purchased a new stake in Ramaco Resources, Inc. (NASDAQ:METC) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,500 shares of the energy company’s stock, valued at approximately $26,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Ramaco Resources by 14.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,589 shares of the energy company’s stock valued at $130,000 after purchasing an additional 947 shares during the period. Cornercap Investment Counsel Inc. bought a new stake in shares of Ramaco Resources in the fourth quarter valued at approximately $436,000. Strs Ohio bought a new stake in shares of Ramaco Resources in the fourth quarter valued at approximately $146,000. Global Retirement Partners LLC bought a new stake in shares of Ramaco Resources in the fourth quarter valued at approximately $36,000. Finally, Raymond James & Associates bought a new stake in shares of Ramaco Resources in the fourth quarter valued at approximately $290,000. Institutional investors own 74.49% of the company’s stock.

Wall Street Analysts Forecast Growth

METC has been the topic of several research reports. B. Riley lowered their price target on shares of Ramaco Resources from $25.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday. UBS Group began coverage on shares of Ramaco Resources in a research note on Tuesday, January 16th. They set a “neutral” rating and a $21.00 price objective for the company. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $17.90.

Ramaco Resources Price Performance

Shares of NASDAQ:METC opened at $16.34 on Thursday. The company has a 50 day moving average of $17.26 and a 200 day moving average of $16.35. The stock has a market cap of $723.21 million, a P/E ratio of 9.39 and a beta of 1.15. Ramaco Resources, Inc. has a 12 month low of $7.26 and a 12 month high of $22.70. The company has a current ratio of 1.12, a quick ratio of 0.90 and a debt-to-equity ratio of 0.10.

Ramaco Resources (NASDAQ:METC) last issued its quarterly earnings data on Thursday, March 7th. The energy company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.07). The firm had revenue of $202.73 million for the quarter, compared to analysts’ expectations of $182.60 million. Ramaco Resources had a net margin of 11.87% and a return on equity of 24.28%. As a group, sell-side analysts forecast that Ramaco Resources, Inc. will post 2.37 EPS for the current fiscal year.

Ramaco Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a $0.138 dividend. This is a positive change from Ramaco Resources’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.55 dividend on an annualized basis and a dividend yield of 3.38%. Ramaco Resources’s dividend payout ratio is presently 31.61%.

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.