Encompass Capital Advisors LLC Takes $166,000 Position in Ramaco Resources, Inc. $METCB

Key Points

• Encompass Capital Advisors LLC invested approximately $166,000 in Ramaco Resources, acquiring 23,296 shares during the first quarter of the year.
• Ramaco Resources reported a quarterly loss of ($0.29) earnings per share, with a revenue of $152.96 million, and has a market capitalization of $875.95 million.
• The company will increase its dividend to $0.1918 per share, payable on September 19th, reflecting a 4.8% yield based on the increased payout.

Encompass Capital Advisors LLC purchased a new stake in Ramaco Resources, Inc. (NASDAQ:METCB - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 23,296 shares of the company's stock, valued at approximately $166,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Comerica Bank raised its stake in shares of Ramaco Resources by 271.3% in the 4th quarter. Comerica Bank now owns 73,197 shares of the company's stock valued at $723,000 after buying an additional 53,483 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Ramaco Resources by 48.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 76,718 shares of the company's stock valued at $758,000 after buying an additional 25,084 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Ramaco Resources by 12.6% in the 1st quarter. American Century Companies Inc. now owns 196,657 shares of the company's stock valued at $1,398,000 after buying an additional 21,956 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Ramaco Resources by 145.3% in the 1st quarter. Wellington Management Group LLP now owns 36,176 shares of the company's stock valued at $257,000 after buying an additional 21,430 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Ramaco Resources in the 1st quarter valued at $97,000. 9.63% of the stock is owned by institutional investors.

Ramaco Resources Price Performance

Shares of METCB stock traded down $0.90 during mid-day trading on Monday, reaching $15.10. The company's stock had a trading volume of 71,101 shares, compared to its average volume of 106,356. Ramaco Resources, Inc. has a 1-year low of $6.01 and a 1-year high of $20.81. The company has a market cap of $833.97 million, a P/E ratio of -32.83 and a beta of 0.90. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.84 and a current ratio of 1.36. The firm's 50-day moving average is $13.66 and its two-hundred day moving average is $9.98.

Ramaco Resources (NASDAQ:METCB - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported ($0.29) earnings per share (EPS) for the quarter. The firm had revenue of $152.96 million for the quarter. Ramaco Resources had a negative return on equity of 5.70% and a negative net margin of 3.17%.

Ramaco Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be given a dividend of $0.1918 per share. This is an increase from Ramaco Resources's previous quarterly dividend of $0.18. The ex-dividend date is Friday, September 5th. This represents a $0.77 dividend on an annualized basis and a dividend yield of 5.1%. Ramaco Resources's dividend payout ratio is -167.39%.

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.