Millennium Management LLC Has $5.42 Million Position in Ramaco Resources, Inc. (NASDAQ:METC)

Millennium Management LLC raised its stake in shares of Ramaco Resources, Inc. (NASDAQ:METC) by 22.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 435,007 shares of the energy company’s stock after buying an additional 79,687 shares during the period. Millennium Management LLC owned about 0.98% of Ramaco Resources worth $5,416,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of METC. Dimensional Fund Advisors LP lifted its stake in shares of Ramaco Resources by 21.7% in 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 purchasing an additional 245,924 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Ramaco Resources by 8.9% in the 1st 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 during the last quarter. Marshall Wace LLP lifted its position in Ramaco Resources by 287.2% during the 2nd quarter. Marshall Wace LLP now owns 125,565 shares of the energy company’s stock worth $1,563,000 after acquiring an additional 93,139 shares during the last quarter. Arkfeld Wealth Strategies L.L.C. lifted its position in Ramaco Resources by 226.1% during 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 acquiring an additional 92,567 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in 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 acquiring an additional 90,014 shares during the last quarter. Institutional investors and hedge funds own 74.49% of the company’s stock.

Ramaco Resources Stock Performance

NASDAQ:METC opened at $11.22 on Friday. The firm’s 50-day moving average is $11.32 and its 200-day moving average is $13.31. Ramaco Resources, Inc. has a 52-week low of $9.03 and a 52-week high of $22.70. 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 company has a market cap of $490.65 million, a price-to-earnings ratio of 10.39 and a beta of 1.05.

Ramaco Resources (NASDAQ:METC) last posted 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 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. Equities research analysts anticipate that Ramaco Resources, Inc. will post 0.88 earnings per share for the current year.

Ramaco Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a dividend of $0.138 per share. The ex-dividend date was Friday, August 30th. This represents a $0.55 annualized dividend and a dividend yield of 4.92%. Ramaco Resources’s payout ratio is 50.93%.

Wall Street Analysts Forecast Growth

METC has been the subject of a number of research analyst reports. B. Riley cut their target price on shares of Ramaco Resources from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. Benchmark reissued a “buy” rating and set a $20.00 target price on shares of Ramaco Resources in a research report on Thursday, August 29th.

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.