Ramaco Resources, Inc. (NASDAQ:METC) Shares Bought by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. raised its stake in shares of Ramaco Resources, Inc. (NASDAQ:METC) by 145.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,706 shares of the energy company’s stock after purchasing an additional 40,767 shares during the quarter. Cornercap Investment Counsel Inc. owned about 0.16% of Ramaco Resources worth $855,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in METC. Arkfeld Wealth Strategies L.L.C. increased its position in shares of Ramaco Resources by 226.1% in the 1st quarter. Arkfeld Wealth Strategies L.L.C. now owns 133,502 shares of the energy company’s stock valued at $2,111,000 after acquiring an additional 92,567 shares during the period. Level Four Advisory Services LLC acquired a new position in shares of Ramaco Resources in the fourth quarter valued at about $1,198,000. Vanguard Group Inc. increased its holdings in shares of Ramaco Resources by 8.9% in the first quarter. Vanguard Group Inc. now owns 1,591,146 shares of the energy company’s stock valued at $26,795,000 after purchasing an additional 130,593 shares during the period. Truist Financial Corp purchased a new position in shares of Ramaco Resources in the fourth quarter worth about $415,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of Ramaco Resources during the fourth quarter worth about $632,000. Hedge funds and other institutional investors own 74.49% of the company’s stock.

Ramaco Resources Stock Up 3.3 %

Ramaco Resources stock opened at $10.40 on Friday. The business’s 50-day moving average price is $12.62 and its 200 day moving average price is $14.32. The company has a quick ratio of 0.90, a current ratio of 1.33 and a debt-to-equity ratio of 0.23. The firm has a market cap of $454.79 million, a price-to-earnings ratio of 8.89 and a beta of 1.05. Ramaco Resources, Inc. has a 52 week low of $8.38 and a 52 week high of $22.70.

Ramaco Resources (NASDAQ:METC) last issued its quarterly earnings data on Wednesday, August 7th. The energy company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.23. Ramaco Resources had a net margin of 7.95% and a return on equity of 16.30%. The business had revenue of $155.32 million for the quarter, compared to analysts’ expectations of $141.66 million. As a group, sell-side analysts anticipate that Ramaco Resources, Inc. will post 1.44 earnings per share for the current year.

Ramaco Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a $0.138 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.55 dividend on an annualized basis and a yield of 5.31%. Ramaco Resources’s payout ratio is 47.01%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on METC. Benchmark reiterated a “buy” rating and issued a $20.00 price target on shares of Ramaco Resources in a report on Thursday, August 29th. B. Riley cut their price objective on shares of Ramaco Resources from $21.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday, September 6th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $16.90.

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.