Squarepoint Ops LLC Trims Holdings in Ramaco Resources, Inc. (NASDAQ:METC)

Squarepoint Ops LLC reduced its holdings in shares of Ramaco Resources, Inc. (NASDAQ:METC) by 31.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 160,290 shares of the energy company’s stock after selling 74,040 shares during the period. Squarepoint Ops LLC owned 0.36% of Ramaco Resources worth $1,996,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of METC. Innealta Capital LLC purchased a new position in shares of Ramaco Resources during the second quarter valued at approximately $28,000. Allspring Global Investments Holdings LLC purchased a new position in Ramaco Resources during the first quarter valued at $93,000. Global Trust Asset Management LLC boosted its holdings in 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 acquiring an additional 6,733 shares in the last quarter. Koss Olinger Consulting LLC purchased a new stake in shares of Ramaco Resources in the second quarter worth $134,000. Finally, Quantedge Capital Pte Ltd bought a new position in shares of Ramaco Resources during the fourth quarter valued at $218,000. Institutional investors own 74.49% of the company’s stock.

Ramaco Resources Price Performance

Shares of NASDAQ:METC opened at $11.53 on Friday. 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 firm has a market cap of $510.35 million, a price-to-earnings ratio of 9.85 and a beta of 1.05. The business has a 50-day simple moving average of $11.58 and a two-hundred day simple moving average of $13.55. Ramaco Resources, Inc. has a fifty-two week low of $9.03 and a fifty-two 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 earnings per share for the quarter, beating 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 company had revenue of $155.32 million for the quarter, compared to the consensus estimate of $141.66 million. On average, analysts expect 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. Investors of record on Friday, August 30th were issued a $0.138 dividend. This represents a $0.55 annualized dividend and a dividend yield of 4.79%. The ex-dividend date of this dividend was Friday, August 30th. Ramaco Resources’s payout ratio is currently 47.01%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. 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. Benchmark reiterated a “buy” rating and set a $20.00 price target on shares of Ramaco Resources in a report on Thursday, August 29th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.70.

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.