Point72 Asia Singapore Pte. Ltd. Makes New Investment in Ramaco Resources, Inc. (NASDAQ:METC)

Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Ramaco Resources, Inc. (NASDAQ:METC) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 7,573 shares of the energy company’s stock, valued at approximately $94,000.

Other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP raised its position in Ramaco Resources by 21.7% during the second 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. raised its holdings in shares of Ramaco Resources by 8.9% during 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 in the last quarter. Marshall Wace LLP lifted its stake in shares of Ramaco Resources by 287.2% in the 2nd 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 during the last quarter. Arkfeld Wealth Strategies L.L.C. boosted its holdings in Ramaco Resources by 226.1% in the first 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 in the last quarter. Finally, American Century Companies Inc. increased its position in Ramaco Resources by 14.9% during the second quarter. American Century Companies Inc. now owns 694,615 shares of the energy company’s stock worth $8,648,000 after buying an additional 90,014 shares during the last quarter. 74.49% of the stock is currently owned by institutional investors and hedge funds.

Ramaco Resources Trading Up 1.6 %

Ramaco Resources stock opened at $11.51 on Friday. 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 firm has a market capitalization of $509.47 million, a PE ratio of 9.84 and a beta of 1.05. The business’s 50-day simple moving average is $11.68 and its 200-day simple moving average is $13.68.

Ramaco Resources (NASDAQ:METC) last issued its quarterly earnings results on Wednesday, August 7th. The energy company reported $0.08 EPS for the quarter, topping the consensus estimate of ($0.15) by $0.23. Ramaco Resources had a return on equity of 16.30% and a net margin of 7.95%. The company had revenue of $155.32 million for the quarter, compared to the consensus estimate of $141.66 million. Equities research analysts forecast that Ramaco Resources, Inc. will post 1.44 earnings per share for the current year.

Ramaco Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a dividend of $0.138 per share. This represents a $0.55 annualized dividend and a yield of 4.80%. The ex-dividend date was Friday, August 30th. Ramaco Resources’s payout ratio is currently 47.01%.

Wall Street Analyst Weigh In

METC has been the subject of a number of analyst reports. Benchmark reiterated 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 target price on Ramaco Resources from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.70.

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.