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

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

A number of other hedge funds and other institutional investors have also recently made changes to their positions in METC. Sanctuary Advisors LLC acquired a new stake in Ramaco Resources in the second quarter valued at about $373,000. The Manufacturers Life Insurance Company acquired a new stake in Ramaco Resources in the second quarter valued at about $139,000. Millennium Management LLC lifted its position in Ramaco Resources by 22.4% in the second quarter. Millennium Management LLC now owns 435,007 shares of the energy company’s stock valued at $5,416,000 after purchasing an additional 79,687 shares during the period. AQR Capital Management LLC lifted its position in Ramaco Resources by 219.6% in the second quarter. AQR Capital Management LLC now owns 32,059 shares of the energy company’s stock valued at $399,000 after purchasing an additional 22,027 shares during the period. Finally, Marshall Wace LLP lifted its position in Ramaco Resources by 287.2% in the second 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 period. Hedge funds and other institutional investors own 74.49% of the company’s stock.

Ramaco Resources Price Performance

METC stock opened at $11.78 on Friday. 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 company has a market cap of $521.42 million, a price-to-earnings ratio of 10.07 and a beta of 1.05. The firm has a 50 day moving average of $11.51 and a 200-day moving average of $13.50.

Ramaco Resources (NASDAQ:METC) last issued 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 return on equity of 16.30% and a net margin of 7.95%. The firm had revenue of $155.32 million during the quarter, compared to the consensus estimate of $141.66 million. As a group, equities analysts expect that Ramaco Resources, Inc. will post 1.44 EPS for the current fiscal year.

Ramaco Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given 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 4.69%. Ramaco Resources’s dividend payout ratio is currently 47.01%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on METC. 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 report on Tuesday, September 17th. Benchmark reiterated a “buy” rating and set a $20.00 price target 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.