Cornercap Investment Counsel Inc. Buys New Holdings in Ramaco Resources, Inc. (NASDAQ:METC)

Cornercap Investment Counsel Inc. purchased a new stake in Ramaco Resources, Inc. (NASDAQ:METC) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 25,403 shares of the energy company’s stock, valued at approximately $436,000.

A number of other large investors also recently bought and sold shares of METC. Harbour Capital Advisors LLC raised its stake in shares of Ramaco Resources by 2.1% during the 4th quarter. Harbour Capital Advisors LLC now owns 27,460 shares of the energy company’s stock worth $514,000 after buying an additional 560 shares during the period. LPL Financial LLC raised its stake in shares of Ramaco Resources by 5.1% during the 3rd quarter. LPL Financial LLC now owns 22,519 shares of the energy company’s stock worth $247,000 after buying an additional 1,095 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Ramaco Resources by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 61,187 shares of the energy company’s stock worth $538,000 after buying an additional 1,407 shares during the period. State Street Corp raised its stake in shares of Ramaco Resources by 0.4% during the 1st quarter. State Street Corp now owns 400,035 shares of the energy company’s stock worth $3,524,000 after buying an additional 1,518 shares during the period. Finally, Global Retirement Partners LLC acquired a new position in shares of Ramaco Resources during the 4th quarter worth approximately $36,000. 74.49% of the stock is owned by institutional investors and hedge funds.

Ramaco Resources Price Performance

METC stock opened at $16.34 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.12 and a quick ratio of 0.90. The firm has a market capitalization of $723.21 million, a P/E ratio of 9.39 and a beta of 1.15. The business’s 50-day moving average is $17.26 and its two-hundred day moving average is $16.35. Ramaco Resources, Inc. has a 1 year low of $7.26 and a 1 year high of $22.70.

Ramaco Resources (NASDAQ:METC) last posted its quarterly earnings results on Thursday, March 7th. The energy company reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.07). The company had revenue of $202.73 million during the quarter, compared to analyst estimates of $182.60 million. Ramaco Resources had a net margin of 11.87% and a return on equity of 24.28%. Analysts anticipate that Ramaco Resources, Inc. will post 2.37 earnings per share for the current fiscal year.

Ramaco Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.138 per share. This represents a $0.55 annualized dividend and a dividend yield of 3.38%. The ex-dividend date was Thursday, February 29th. This is a positive change from Ramaco Resources’s previous quarterly dividend of $0.13. Ramaco Resources’s dividend payout ratio (DPR) is 31.61%.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. B. Riley dropped their price target on Ramaco Resources from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Monday. UBS Group initiated coverage on Ramaco Resources in a research report on Tuesday, January 16th. They set a “neutral” rating and a $21.00 price target for the company. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.