Discovery Capital Management LLC CT Makes New Investment in Ramaco Resources, Inc. (NASDAQ:METC)

Discovery Capital Management LLC CT purchased a new position in shares of Ramaco Resources, Inc. (NASDAQ:METC) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 905,372 shares of the energy company’s stock, valued at approximately $9,289,000.

A number of other hedge funds have also recently modified their holdings of METC. Wellington Management Group LLP purchased a new position in Ramaco Resources during the third quarter valued at $22,127,000. Charles Schwab Investment Management Inc. raised its stake in shares of Ramaco Resources by 231.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 262,354 shares of the energy company’s stock worth $3,070,000 after buying an additional 183,163 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Ramaco Resources by 42.1% during the 4th quarter. Bank of New York Mellon Corp now owns 524,009 shares of the energy company’s stock valued at $5,376,000 after buying an additional 155,169 shares in the last quarter. Acuitas Investments LLC grew its stake in shares of Ramaco Resources by 153.1% during the 4th quarter. Acuitas Investments LLC now owns 152,097 shares of the energy company’s stock valued at $1,561,000 after acquiring an additional 92,008 shares during the period. Finally, American Century Companies Inc. increased its holdings in Ramaco Resources by 10.8% in the 4th quarter. American Century Companies Inc. now owns 870,957 shares of the energy company’s stock worth $8,936,000 after acquiring an additional 84,734 shares in the last quarter. Institutional investors own 74.49% of the company’s stock.

Ramaco Resources Price Performance

Shares of Ramaco Resources stock opened at $8.23 on Tuesday. The firm has a market cap of $365.44 million, a PE ratio of 12.66 and a beta of 1.17. The stock has a 50 day moving average of $9.45 and a 200 day moving average of $10.49. The company has a current ratio of 1.35, a quick ratio of 0.86 and a debt-to-equity ratio of 0.23. Ramaco Resources, Inc. has a 12 month low of $7.87 and a 12 month high of $17.23.

Ramaco Resources (NASDAQ:METC) last posted its earnings results on Monday, March 10th. The energy company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.36). The business had revenue of $170.90 million during the quarter, compared to analysts’ expectations of $166.59 million. Ramaco Resources had a net margin of 5.35% and a return on equity of 10.17%. The company’s revenue for the quarter was down 15.7% compared to the same quarter last year. During the same period last year, the business posted $0.24 earnings per share. On average, research analysts expect that Ramaco Resources, Inc. will post 0.05 EPS for the current fiscal year.

Ramaco Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be given a dividend of $0.0688 per share. This represents a $0.28 annualized dividend and a dividend yield of 3.34%. Ramaco Resources’s dividend payout ratio is 245.45%.

Insider Transactions at Ramaco Resources

In other Ramaco Resources news, major shareholder Yorktown Xi Associates Llc sold 89,501 shares of the firm’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $8.09, for a total value of $724,063.09. Following the completion of the sale, the insider now owns 1,024,870 shares of the company’s stock, valued at $8,291,198.30. This trade represents a 8.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Peter A. Leidel sold 225,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $8.08, for a total value of $1,818,000.00. Following the transaction, the director now directly owns 677,403 shares in the company, valued at approximately $5,473,416.24. This represents a 24.93 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 922,582 shares of company stock worth $7,898,023. 41.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Benchmark restated a “buy” rating on shares of Ramaco Resources in a research report on Wednesday, March 12th. Jefferies Financial Group lowered their target price on shares of Ramaco Resources from $19.00 to $13.00 and set a “buy” rating on the stock in a report on Monday, January 6th.

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.