AQR Capital Management LLC Grows Position in Ramaco Resources, Inc. (NASDAQ:METC)

AQR Capital Management LLC raised its holdings in shares of Ramaco Resources, Inc. (NASDAQ:METC) by 219.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,059 shares of the energy company’s stock after purchasing an additional 22,027 shares during the quarter. AQR Capital Management LLC owned approximately 0.07% of Ramaco Resources worth $399,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in METC. Quadrature Capital Ltd bought a new stake in shares of Ramaco Resources during the fourth quarter valued at about $632,000. Global Trust Asset Management LLC increased its position 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 purchasing an additional 6,733 shares during the last quarter. Arkfeld Wealth Strategies L.L.C. increased its position in shares of Ramaco Resources by 226.1% in the first quarter. Arkfeld Wealth Strategies L.L.C. now owns 133,502 shares of the energy company’s stock worth $2,111,000 after purchasing an additional 92,567 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Ramaco Resources in the first quarter worth approximately $93,000. Finally, Principal Financial Group Inc. boosted its stake in Ramaco Resources by 111.1% in the first quarter. Principal Financial Group Inc. now owns 54,732 shares of the energy company’s stock worth $922,000 after buying an additional 28,806 shares in the last quarter. 74.49% of the stock is owned by hedge funds and other institutional investors.

Ramaco Resources Trading Down 2.0 %

Shares of NASDAQ:METC opened at $10.87 on Wednesday. Ramaco Resources, Inc. has a 12-month low of $9.03 and a 12-month high of $22.70. The company has a current ratio of 1.33, a quick ratio of 0.90 and a debt-to-equity ratio of 0.23. The company has a market cap of $481.14 million, a PE ratio of 9.43 and a beta of 1.05. The stock has a 50 day moving average of $11.31 and a 200 day moving average of $13.22.

Ramaco Resources (NASDAQ:METC) last issued its quarterly earnings data on Wednesday, August 7th. The energy company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.23. Ramaco Resources had a return on equity of 16.30% and a net margin of 7.95%. The business had revenue of $155.32 million for the quarter, compared to analysts’ expectations of $141.66 million. As a group, equities research analysts expect that Ramaco Resources, Inc. will post 0.88 EPS for the current year.

Ramaco Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a $0.138 dividend. This represents a $0.55 dividend on an annualized basis and a yield of 5.08%. The ex-dividend date was Friday, August 30th. Ramaco Resources’s dividend payout ratio (DPR) is presently 47.01%.

Wall Street Analyst Weigh In

Several analysts have issued reports on METC shares. B. Riley cut their target price on Ramaco Resources from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. Benchmark reissued a “buy” rating and set a $20.00 price objective on shares of Ramaco Resources in a research note on Thursday, August 29th.

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.