Point72 DIFC Ltd Takes Position in Ramaco Resources, Inc. (NASDAQ:METC)

Point72 DIFC Ltd purchased a new position in Ramaco Resources, Inc. (NASDAQ:METC) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,887 shares of the energy company’s stock, valued at approximately $45,000.

A number of other large investors also recently added to or reduced their stakes in the stock. HighTower Advisors LLC acquired a new stake in shares of Ramaco Resources in the third quarter valued at about $148,000. FMR LLC lifted its stake in Ramaco Resources by 5.3% in the 3rd quarter. FMR LLC now owns 371,885 shares of the energy company’s stock valued at $4,351,000 after buying an additional 18,582 shares in the last quarter. Dynamic Technology Lab Private Ltd boosted its holdings in Ramaco Resources by 190.4% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 89,958 shares of the energy company’s stock worth $1,053,000 after buying an additional 58,980 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Ramaco Resources by 231.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 262,354 shares of the energy company’s stock worth $3,070,000 after buying an additional 183,163 shares during the last quarter. Finally, Segall Bryant & Hamill LLC increased its stake in Ramaco Resources by 1.5% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 310,688 shares of the energy company’s stock worth $3,635,000 after buying an additional 4,460 shares in the last quarter. 74.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. B. Riley lowered their price target on Ramaco Resources from $19.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. Benchmark reaffirmed a “buy” rating and set a $20.00 target price on shares of Ramaco Resources in a report on Thursday, August 29th.

Ramaco Resources Price Performance

METC stock opened at $12.52 on Tuesday. Ramaco Resources, Inc. has a 1 year low of $9.03 and a 1 year high of $22.70. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.35 and a quick ratio of 0.86. The firm has a market capitalization of $657.68 million, a PE ratio of 19.26 and a beta of 1.14. The business has a 50 day simple moving average of $11.62 and a 200-day simple moving average of $12.21.

Ramaco Resources (NASDAQ:METC) last issued its earnings results on Monday, November 4th. The energy company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). The company had revenue of $167.40 million during the quarter, compared to analyst estimates of $156.41 million. Ramaco Resources had a return on equity of 10.17% and a net margin of 5.35%. The firm’s revenue was down 10.5% compared to the same quarter last year. During the same period last year, the business earned $0.45 earnings per share. Equities research analysts anticipate that Ramaco Resources, Inc. will post 0.86 earnings per share for the current fiscal year.

Ramaco Resources Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.1375 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.55 annualized dividend and a yield of 4.39%. Ramaco Resources’s payout ratio is 84.62%.

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.