Point72 Asset Management L.P. Has $13.71 Million Position in Ramaco Resources, Inc. (NASDAQ:METC)

Point72 Asset Management L.P. cut its stake in shares of Ramaco Resources, Inc. (NASDAQ:METC) by 5.0% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,101,071 shares of the energy company’s stock after selling 57,864 shares during the period. Point72 Asset Management L.P. owned about 2.49% of Ramaco Resources worth $13,708,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in METC. Dimensional Fund Advisors LP grew its holdings in shares of Ramaco Resources by 21.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,380,601 shares of the energy company’s stock valued at $17,186,000 after acquiring an additional 245,924 shares in the last quarter. Vanguard Group Inc. grew its stake in 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 in the last quarter. Marshall Wace LLP grew its stake in Ramaco Resources by 287.2% in the second quarter. Marshall Wace LLP now owns 125,565 shares of the energy company’s stock valued at $1,563,000 after purchasing an additional 93,139 shares in the last quarter. Arkfeld Wealth Strategies L.L.C. increased its position in 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 worth $2,111,000 after purchasing an additional 92,567 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Ramaco Resources by 14.9% during the 2nd quarter. American Century Companies Inc. now owns 694,615 shares of the energy company’s stock worth $8,648,000 after purchasing an additional 90,014 shares in the last quarter. Institutional investors and hedge funds own 74.49% of the company’s stock.

Wall Street Analyst Weigh In

METC has been the topic of a number of research reports. Benchmark restated a “buy” rating and issued a $20.00 price objective on shares of Ramaco Resources in a report on Thursday, August 29th. B. Riley dropped their price target on shares of Ramaco Resources from $19.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $16.70.

Ramaco Resources Stock Up 1.7 %

METC opened at $11.70 on Tuesday. The firm has a market cap of $517.88 million, a P/E ratio of 10.00 and a beta of 1.05. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.90 and a current ratio of 1.33. The business has a 50 day moving average price of $11.68 and a 200 day moving average price of $13.63. Ramaco Resources, Inc. has a twelve month low of $9.03 and a twelve month high of $22.70.

Ramaco Resources (NASDAQ:METC) last issued its quarterly earnings data on Wednesday, August 7th. The energy company reported $0.08 earnings per share 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 during the quarter, compared to analysts’ expectations of $141.66 million. Research analysts forecast that Ramaco Resources, Inc. will post 1.44 EPS for the current year.

Ramaco Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a $0.138 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.55 annualized dividend and a dividend yield of 4.72%. Ramaco Resources’s dividend payout ratio is 47.01%.

Ramaco Resources 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.