Point72 Asset Management L.P. Has $7.15 Million Holdings in Ramaco Resources, Inc. (NASDAQ:METC)

Point72 Asset Management L.P. boosted its position in shares of Ramaco Resources, Inc. (NASDAQ:METC - Free Report) by 98.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 696,531 shares of the energy company's stock after purchasing an additional 346,265 shares during the period. Point72 Asset Management L.P. owned about 1.33% of Ramaco Resources worth $7,146,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in Ramaco Resources by 97.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 68,520 shares of the energy company's stock valued at $802,000 after purchasing an additional 33,788 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Ramaco Resources by 11.0% during the 4th quarter. Principal Financial Group Inc. now owns 38,017 shares of the energy company's stock valued at $390,000 after purchasing an additional 3,754 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in Ramaco Resources in the 4th quarter valued at about $224,000. New York State Common Retirement Fund increased its position in Ramaco Resources by 12.5% in the 4th quarter. New York State Common Retirement Fund now owns 17,988 shares of the energy company's stock valued at $185,000 after acquiring an additional 2,000 shares in the last quarter. Finally, MetLife Investment Management LLC increased its position in Ramaco Resources by 13.9% in the 4th quarter. MetLife Investment Management LLC now owns 16,189 shares of the energy company's stock valued at $166,000 after acquiring an additional 1,970 shares in the last quarter. 74.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on METC shares. B. Riley lowered their price objective on shares of Ramaco Resources from $18.00 to $14.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Benchmark lowered their price objective on shares of Ramaco Resources from $18.00 to $14.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Finally, Wall Street Zen cut shares of Ramaco Resources from a "hold" rating to a "sell" rating in a research report on Thursday.

Ramaco Resources Price Performance

METC traded up $0.23 during midday trading on Friday, hitting $9.07. The company had a trading volume of 485,966 shares, compared to its average volume of 608,992. Ramaco Resources, Inc. has a twelve month low of $6.30 and a twelve month high of $15.49. The firm's 50-day simple moving average is $8.96 and its 200-day simple moving average is $9.98. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.86 and a current ratio of 1.35. The company has a market capitalization of $496.17 million, a PE ratio of 13.95 and a beta of 1.28.

Ramaco Resources (NASDAQ:METC - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The energy company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.10. Ramaco Resources had a net margin of 5.35% and a return on equity of 10.17%. The company had revenue of $115.61 million during the quarter, compared to analysts' expectations of $137.10 million. During the same quarter in the previous year, the company earned $0.23 EPS. Ramaco Resources's revenue was down 22.0% on a year-over-year basis. Equities research analysts predict that Ramaco Resources, Inc. will post 0.05 EPS for the current fiscal year.

Ramaco Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be given a dividend of $0.0688 per share. This represents a $0.28 annualized dividend and a dividend yield of 3.03%. The ex-dividend date is Friday, May 30th. Ramaco Resources's dividend payout ratio is -337.50%.

Insider Transactions at Ramaco Resources

In related news, Director Peter A. Leidel sold 180,936 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $8.82, for a total transaction of $1,595,855.52. Following the completion of the transaction, the director now owns 708,001 shares in the company, valued at approximately $6,244,568.82. The trade was a 20.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Yorktown Energy Partners Xi, L sold 83,871 shares of the business's stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $8.61, for a total transaction of $722,129.31. Following the transaction, the insider now owns 1,059,909 shares of the company's stock, valued at approximately $9,125,816.49. This represents a 7.33% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 922,582 shares of company stock worth $7,898,023 in the last quarter. 36.20% of the stock is owned by company insiders.

Ramaco Resources Company 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.