Ramaco Resources, Inc. (NASDAQ:METC) Shares Sold by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC lessened its holdings in shares of Ramaco Resources, Inc. (NASDAQ:METC) by 92.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,344 shares of the energy company’s stock after selling 270,918 shares during the period. Cubist Systematic Strategies LLC’s holdings in Ramaco Resources were worth $266,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Innealta Capital LLC acquired a new position in Ramaco Resources during the 2nd quarter worth $28,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Ramaco Resources during the first quarter valued at about $93,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Ramaco Resources in the second quarter worth about $94,000. Global Trust Asset Management LLC grew its position in Ramaco Resources by 2,071.7% in the 1st quarter. Global Trust Asset Management LLC now owns 7,058 shares of the energy company’s stock valued at $119,000 after buying an additional 6,733 shares in the last quarter. Finally, Koss Olinger Consulting LLC acquired a new position in Ramaco Resources during the 2nd quarter valued at about $134,000. 74.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

METC has been the subject of a number of research analyst reports. B. Riley reduced their price target on shares of 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 reaffirmed a “buy” rating and set a $20.00 price target on shares of Ramaco Resources in a research note on Thursday, August 29th.

Ramaco Resources Stock Performance

NASDAQ:METC opened at $11.09 on Tuesday. 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 50-day moving average of $11.32 and a 200-day moving average of $13.27. Ramaco Resources, Inc. has a twelve month low of $9.03 and a twelve month high of $22.70. The firm has a market cap of $490.88 million, a price-to-earnings ratio of 9.48 and a beta of 1.05.

Ramaco Resources (NASDAQ:METC) last posted its quarterly earnings results 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 firm had revenue of $155.32 million for the quarter, compared to analyst estimates of $141.66 million. Analysts forecast that Ramaco Resources, Inc. will post 0.88 earnings per share for the current fiscal year.

Ramaco Resources Dividend Announcement

The business also recently announced 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. This represents a $0.55 annualized dividend and a dividend yield of 4.98%. The ex-dividend date of this dividend was Friday, August 30th. 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.