CenterBook Partners LP Has $13.82 Million Stake in Ramaco Resources, Inc. (NASDAQ:METC)

CenterBook Partners LP increased its stake in Ramaco Resources, Inc. (NASDAQ:METC - Free Report) by 151.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,678,594 shares of the energy company's stock after purchasing an additional 1,009,782 shares during the period. Ramaco Resources accounts for 0.9% of CenterBook Partners LP's portfolio, making the stock its 20th largest position. CenterBook Partners LP owned approximately 3.78% of Ramaco Resources worth $13,815,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. AlphaQuest LLC bought a new stake in Ramaco Resources during the 4th quarter valued at $50,000. Jones Financial Companies Lllp bought a new stake in Ramaco Resources during the 4th quarter valued at $56,000. BNP Paribas Financial Markets bought a new stake in Ramaco Resources during the 4th quarter valued at $80,000. Atria Wealth Solutions Inc. bought a new stake in Ramaco Resources during the 1st quarter valued at $82,000. Finally, Royce & Associates LP bought a new stake in Ramaco Resources during the 4th quarter valued at $94,000. Institutional investors own 74.49% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on METC shares. B. Riley cut their target price on Ramaco Resources from $18.00 to $14.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Jefferies Financial Group reiterated a "buy" rating and set a $27.00 price target (up from $15.00) on shares of Ramaco Resources in a research report on Wednesday. Wall Street Zen cut Ramaco Resources from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, Benchmark lowered 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.

Ramaco Resources Price Performance

Shares of METC stock traded up $0.97 during mid-day trading on Thursday, hitting $22.36. 2,301,594 shares of the stock traded hands, compared to its average volume of 849,972. Ramaco Resources, Inc. has a twelve month low of $6.24 and a twelve month high of $24.75. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of -278.21 and a beta of 1.30. The company's 50-day simple moving average is $11.22 and its 200-day simple moving average is $10.00. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.87 and a current ratio of 1.32.

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

Ramaco Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were paid a $0.0688 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date was Friday, May 30th. Ramaco Resources's payout ratio is -350.00%.

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.