Readystate Asset Management LP Takes Position in Ramaco Resources, Inc. (NASDAQ:METC)

Readystate Asset Management LP purchased a new position in shares of Ramaco Resources, Inc. (NASDAQ:METC - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 23,875 shares of the energy company's stock, valued at approximately $196,000. Readystate Asset Management LP owned approximately 0.05% of Ramaco Resources at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Discovery Capital Management LLC CT bought a new position in shares of Ramaco Resources during the fourth quarter valued at $9,289,000. CenterBook Partners LP bought a new position in shares of Ramaco Resources in the fourth quarter valued at about $6,862,000. Graham Capital Management L.P. bought a new position in shares of Ramaco Resources in the fourth quarter valued at about $3,588,000. Point72 Asset Management L.P. raised its holdings in shares of Ramaco Resources by 98.9% in the fourth quarter. Point72 Asset Management L.P. now owns 696,531 shares of the energy company's stock valued at $7,146,000 after buying an additional 346,265 shares during the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of Ramaco Resources by 39.0% in the fourth quarter. Wells Fargo & Company MN now owns 797,283 shares of the energy company's stock valued at $8,180,000 after buying an additional 223,682 shares during the last quarter. Institutional investors and hedge funds own 74.49% of the company's stock.

Ramaco Resources Trading Down 3.3%

NASDAQ:METC traded down $0.74 on Monday, hitting $21.80. 600,004 shares of the stock were exchanged, compared to its average volume of 1,212,213. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of -270.94 and a beta of 1.30. Ramaco Resources, Inc. has a 52 week low of $6.30 and a 52 week high of $24.75. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.87 and a current ratio of 1.32. The company's 50-day moving average price is $13.04 and its 200 day moving average price is $10.60.

Ramaco Resources (NASDAQ:METC - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The energy company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.10. The firm had revenue of $115.61 million during the quarter, compared to analysts' expectations of $137.10 million. Ramaco Resources had a negative return on equity of 0.08% and a negative net margin of 0.05%. The company's quarterly revenue was down 22.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.23 EPS. On average, equities research analysts forecast that Ramaco Resources, Inc. will post 0.05 earnings per share for the current year.

Ramaco Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were issued a dividend of $0.0688 per share. The ex-dividend date was Friday, May 30th. This represents a $0.28 annualized dividend and a yield of 1.26%. Ramaco Resources's dividend payout ratio is currently -337.50%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Jefferies Financial Group reaffirmed a "buy" rating and issued a $27.00 price target (up from $15.00) on shares of Ramaco Resources in a report on Wednesday, July 16th. Wall Street Zen cut Ramaco Resources from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Benchmark cut their price target on Ramaco Resources from $18.00 to $14.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Finally, B. Riley cut their price target on Ramaco Resources from $18.00 to $14.00 and set a "buy" rating for the company in a report on Friday, April 11th.

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.