Arkfeld Wealth Strategies L.L.C. Has $2.11 Million Stock Position in Ramaco Resources, Inc. (NASDAQ:METC)

Arkfeld Wealth Strategies L.L.C. lifted its stake in Ramaco Resources, Inc. (NASDAQ:METC) by 226.1% during the 1st quarter, HoldingsChannel reports. The fund owned 133,502 shares of the energy company’s stock after buying an additional 92,567 shares during the period. Ramaco Resources comprises approximately 1.2% of Arkfeld Wealth Strategies L.L.C.’s portfolio, making the stock its 19th biggest holding. Arkfeld Wealth Strategies L.L.C.’s holdings in Ramaco Resources were worth $2,111,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Global Trust Asset Management LLC grew its stake in shares of Ramaco Resources by 2,071.7% in the first quarter. Global Trust Asset Management LLC now owns 7,058 shares of the energy company’s stock worth $119,000 after acquiring an additional 6,733 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Ramaco Resources in the fourth quarter worth $632,000. Cantor Fitzgerald L. P. acquired a new stake in shares of Ramaco Resources in the fourth quarter worth $806,000. CoreCommodity Management LLC grew its stake in shares of Ramaco Resources by 175.6% in the fourth quarter. CoreCommodity Management LLC now owns 44,686 shares of the energy company’s stock worth $768,000 after acquiring an additional 28,472 shares during the last quarter. Finally, Quantedge Capital Pte Ltd acquired a new stake in shares of Ramaco Resources in the fourth quarter worth $218,000. Institutional investors and hedge funds own 74.49% of the company’s stock.

Insider Buying and Selling at Ramaco Resources

In other Ramaco Resources news, General Counsel Evan H. Jenkins bought 7,158 shares of the stock in a transaction dated Wednesday, May 29th. The stock was bought at an average cost of $13.97 per share, for a total transaction of $99,997.26. Following the completion of the purchase, the general counsel now owns 23,480 shares in the company, valued at approximately $328,015.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 45.98% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on METC shares. B. Riley reduced their target price on Ramaco Resources from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Friday, May 10th. Benchmark reduced their target price on Ramaco Resources from $24.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, May 10th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $17.50.

Ramaco Resources Price Performance

Shares of NASDAQ METC traded up $0.39 during midday trading on Wednesday, reaching $12.08. 418,320 shares of the company traded hands, compared to its average volume of 808,541. The firm has a market cap of $534.66 million, a PE ratio of 10.19 and a beta of 1.06. The stock’s 50-day simple moving average is $14.06 and its 200-day simple moving average is $16.43. Ramaco Resources, Inc. has a 12 month low of $7.65 and a 12 month high of $22.70. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.95 and a current ratio of 1.23.

Ramaco Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, June 15th. Shareholders of record on Saturday, June 1st were issued a dividend of $0.138 per share. The ex-dividend date was Friday, May 31st. This represents a $0.55 dividend on an annualized basis and a dividend yield of 4.57%. Ramaco Resources’s payout ratio is presently 47.01%.

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.