Point72 Asset Management L.P. Increases Stake in Ramaco Resources, Inc. (NASDAQ:METC)

Point72 Asset Management L.P. boosted its stake in Ramaco Resources, Inc. (NASDAQ:METC - Free Report) by 98.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 reporting period.

Other large investors have also bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in shares of Ramaco Resources by 97.3% during the third quarter. JPMorgan Chase & Co. now owns 68,520 shares of the energy company's stock valued at $802,000 after buying an additional 33,788 shares during the period. Prairiewood Capital LLC bought a new stake in shares of Ramaco Resources during the fourth quarter valued at approximately $103,000. SG Americas Securities LLC boosted its position in shares of Ramaco Resources by 68.8% during the fourth quarter. SG Americas Securities LLC now owns 16,076 shares of the energy company's stock valued at $165,000 after purchasing an additional 6,555 shares in the last quarter. Arkfeld Wealth Strategies L.L.C. boosted its position in shares of Ramaco Resources by 0.8% during the fourth quarter. Arkfeld Wealth Strategies L.L.C. now owns 232,755 shares of the energy company's stock valued at $2,251,000 after purchasing an additional 1,748 shares in the last quarter. Finally, DAVENPORT & Co LLC boosted its position in shares of Ramaco Resources by 39.5% during the fourth quarter. DAVENPORT & Co LLC now owns 29,721 shares of the energy company's stock valued at $305,000 after purchasing an additional 8,416 shares in the last quarter. 74.49% of the stock is owned by hedge funds and other institutional investors.

Ramaco Resources Trading Down 1.9%

Shares of NASDAQ:METC opened at $9.15 on Tuesday. The company has a market cap of $406.42 million, a P/E ratio of 14.08 and a beta of 1.28. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.35 and a quick ratio of 0.86. Ramaco Resources, Inc. has a 1 year low of $6.30 and a 1 year high of $15.49. The stock's fifty day moving average price is $9.00 and its 200-day moving average price is $10.05.

Ramaco Resources (NASDAQ:METC - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The energy company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.29) by $0.10. The firm had revenue of $115.61 million for the quarter, compared to the consensus estimate of $137.10 million. Ramaco Resources had a return on equity of 10.17% and a net margin of 5.35%. The company's quarterly revenue was down 22.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.23 earnings per share. Sell-side analysts expect 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 will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be given a dividend of $0.0688 per share. This represents a $0.28 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date is Friday, May 30th. Ramaco Resources's dividend payout ratio (DPR) is presently -337.50%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on METC. Benchmark dropped their price target on Ramaco Resources from $18.00 to $14.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. B. Riley dropped their target price on Ramaco Resources from $18.00 to $14.00 and set a "buy" rating on the stock in a report on Friday, April 11th.

Insider Activity at Ramaco Resources

In related news, major shareholder Yorktown Energy Partners Xi, L sold 98,274 shares of the company's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $8.85, for a total transaction of $869,724.90. Following the completion of the sale, the insider now owns 1,052,404 shares in the company, valued at approximately $9,313,775.40. This represents a 8.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter A. Leidel sold 245,000 shares of the company's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $8.85, for a total value of $2,168,250.00. Following the completion of the sale, the director now owns 695,601 shares of the company's stock, valued at approximately $6,156,068.85. The trade was a 26.05% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 922,582 shares of company stock worth $7,898,023. 36.20% of the stock is owned by insiders.

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.

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