Point72 Asia Singapore Pte. Ltd. Purchases Shares of 7,573 Ramaco Resources, Inc. (NASDAQ:METC)

Point72 Asia Singapore Pte. Ltd. acquired a new position in Ramaco Resources, Inc. (NASDAQ:METC) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 7,573 shares of the energy company’s stock, valued at approximately $94,000.

A number of other hedge funds have also recently made changes to their positions in METC. Innealta Capital LLC acquired a new position in Ramaco Resources during the second quarter worth $28,000. SG Americas Securities LLC lifted its stake in Ramaco Resources by 12.9% during the first quarter. SG Americas Securities LLC now owns 21,545 shares of the energy company’s stock worth $363,000 after purchasing an additional 2,460 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Ramaco Resources during the first quarter worth $93,000. Global Trust Asset Management LLC lifted its stake in Ramaco Resources by 2,071.7% during 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 in the last quarter. Finally, Empowered Funds LLC lifted its stake in Ramaco Resources by 8.2% during the first quarter. Empowered Funds LLC now owns 101,515 shares of the energy company’s stock worth $1,710,000 after purchasing an additional 7,667 shares in the last quarter. Hedge funds and other institutional investors own 74.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Benchmark restated a “buy” rating and set a $20.00 price target on shares of Ramaco Resources in a research note on Thursday, August 29th. B. Riley decreased their price target on Ramaco Resources from $19.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th.

Ramaco Resources Stock Up 2.2 %

Shares of NASDAQ METC opened at $11.78 on Friday. The stock has a market cap of $521.42 million, a P/E ratio of 10.07 and a beta of 1.05. The company has a current ratio of 1.33, a quick ratio of 0.90 and a debt-to-equity ratio of 0.23. Ramaco Resources, Inc. has a 12-month low of $9.03 and a 12-month high of $22.70. The business’s fifty day simple moving average is $11.51 and its 200-day simple moving average is $13.50.

Ramaco Resources (NASDAQ:METC) last announced its quarterly earnings data on Wednesday, August 7th. The energy company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.23. The business had revenue of $155.32 million for the quarter, compared to analysts’ expectations of $141.66 million. Ramaco Resources had a return on equity of 16.30% and a net margin of 7.95%. As a group, equities analysts predict that Ramaco Resources, Inc. will post 1.44 EPS for the current fiscal year.

Ramaco Resources Dividend Announcement

The firm also recently announced 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 yield of 4.69%. The ex-dividend date was Friday, August 30th. Ramaco Resources’s dividend payout ratio (DPR) is presently 47.01%.

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.