Wedge Capital Management L L P NC Purchases 14,480 Shares of Ramaco Resources, Inc. (NASDAQ:METC)

Wedge Capital Management L L P NC grew its position in Ramaco Resources, Inc. (NASDAQ:METC) by 5.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 276,812 shares of the energy company’s stock after buying an additional 14,480 shares during the period. Wedge Capital Management L L P NC owned 0.53% of Ramaco Resources worth $4,756,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Archer Investment Corp acquired a new stake in Ramaco Resources in the 4th quarter worth approximately $26,000. Global Retirement Partners LLC acquired a new stake in Ramaco Resources in the 4th quarter worth approximately $36,000. Allspring Global Investments Holdings LLC boosted its stake in Ramaco Resources by 79.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,432 shares of the energy company’s stock worth $82,000 after purchasing an additional 3,284 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Ramaco Resources by 14.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,589 shares of the energy company’s stock worth $130,000 after purchasing an additional 947 shares in the last quarter. Finally, Strs Ohio acquired a new stake in Ramaco Resources in the 4th quarter worth approximately $146,000. 74.49% of the stock is currently owned by institutional investors.

Ramaco Resources Stock Performance

Shares of NASDAQ METC opened at $15.39 on Thursday. 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, Inc. has a 12 month low of $7.26 and a 12 month high of $22.70. The company has a 50 day simple moving average of $17.13 and a two-hundred day simple moving average of $16.55. The stock has a market cap of $681.16 million, a price-to-earnings ratio of 8.84 and a beta of 1.15.

Ramaco Resources (NASDAQ:METC) last posted its earnings results on Thursday, March 7th. The energy company reported $0.60 earnings per share 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, analysts predict that Ramaco Resources, Inc. will post 1.59 earnings per share for the current year.

Ramaco Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a dividend of $0.138 per share. This represents a $0.55 annualized dividend and a dividend yield of 3.59%. 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. Ramaco Resources’s payout ratio is 31.61%.

Wall Street Analyst Weigh In

METC has been the subject of a number of recent analyst reports. B. Riley lowered their target price on shares of Ramaco Resources from $25.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, April 15th. UBS Group assumed 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $17.90.

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.