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

Cornercap Investment Counsel Inc. bought a new stake in Ramaco Resources, Inc. (NASDAQ:METC) during the 4th quarter, HoldingsChannel reports. The fund bought 25,403 shares of the energy company’s stock, valued at approximately $436,000.

Other large investors have also recently added to or reduced their stakes in the company. Global Retirement Partners LLC acquired a new position in shares of Ramaco Resources during the 4th quarter valued at $36,000. Point72 Middle East FZE acquired a new position in shares of Ramaco Resources during the 4th quarter valued at $44,000. Barclays PLC increased its position in shares of Ramaco Resources by 532.9% during the 4th quarter. Barclays PLC now owns 6,019 shares of the energy company’s stock valued at $53,000 after purchasing an additional 5,068 shares during the period. Ensign Peak Advisors Inc acquired a new position in shares of Ramaco Resources during the 3rd quarter valued at $55,000. Finally, Alpha Paradigm Partners LLC acquired a new position in shares of Ramaco Resources during the 3rd quarter valued at $63,000. 74.49% of the stock is currently owned by institutional investors and hedge funds.

Ramaco Resources Price Performance

METC opened at $16.34 on Thursday. Ramaco Resources, Inc. has a 1 year low of $7.26 and a 1 year high of $22.70. The stock has a fifty day moving average price of $17.26 and a 200 day moving average price of $16.35. The company has a current ratio of 1.12, a quick ratio of 0.90 and a debt-to-equity ratio of 0.10. The stock has a market cap of $723.21 million, a price-to-earnings ratio of 9.39 and a beta of 1.15.

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

Ramaco Resources Increases Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on METC shares. B. Riley lowered their price target on Ramaco Resources from $25.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday. UBS Group started coverage on Ramaco Resources in a research report on Tuesday, January 16th. They set a “neutral” rating and a $21.00 price target on the stock. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target 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.