Millennium Management LLC Purchases 79,687 Shares of Ramaco Resources, Inc. (NASDAQ:METC)

Millennium Management LLC lifted its position in Ramaco Resources, Inc. (NASDAQ:METC - Free Report) by 22.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 435,007 shares of the energy company's stock after purchasing an additional 79,687 shares during the quarter. Millennium Management LLC owned 0.98% of Ramaco Resources worth $5,416,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Arkfeld Wealth Strategies L.L.C. boosted its holdings in shares of Ramaco Resources by 226.1% in the 1st quarter. Arkfeld Wealth Strategies L.L.C. now owns 133,502 shares of the energy company's stock worth $2,111,000 after purchasing an additional 92,567 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Ramaco Resources by 14.9% in the 2nd quarter. American Century Companies Inc. now owns 694,615 shares of the energy company's stock worth $8,648,000 after purchasing an additional 90,014 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Ramaco Resources by 21.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,380,601 shares of the energy company's stock worth $17,186,000 after purchasing an additional 245,924 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Ramaco Resources by 8.9% in the 1st quarter. Vanguard Group Inc. now owns 1,591,146 shares of the energy company's stock worth $26,795,000 after purchasing an additional 130,593 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of Ramaco Resources by 442.0% in the 2nd quarter. Victory Capital Management Inc. now owns 108,390 shares of the energy company's stock valued at $1,349,000 after acquiring an additional 88,392 shares during the last quarter. 74.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on METC. B. Riley lowered their target price on Ramaco Resources from $19.00 to $18.00 and set a "buy" rating for the company in a research note on Tuesday, September 17th. Benchmark reissued a "buy" rating and issued a $20.00 target price on shares of Ramaco Resources in a research note on Thursday, August 29th.

Ramaco Resources Trading Up 0.1 %

NASDAQ METC opened at $11.22 on Friday. Ramaco Resources, Inc. has a 1-year low of $9.03 and a 1-year high of $22.70. The company has a current ratio of 1.33, a quick ratio of 0.90 and a debt-to-equity ratio of 0.23. The stock has a 50-day moving average of $11.32 and a 200-day moving average of $13.31. The firm has a market cap of $490.65 million, a PE ratio of 10.39 and a beta of 1.05.

Ramaco Resources (NASDAQ:METC - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The energy company reported $0.08 EPS for the quarter, beating analysts' consensus estimates of ($0.15) by $0.23. The business had revenue of $155.32 million during the quarter, compared to analyst estimates of $141.66 million. Ramaco Resources had a return on equity of 16.30% and a net margin of 7.95%. As a group, sell-side analysts forecast that Ramaco Resources, Inc. will post 0.88 EPS for the current year.

Ramaco Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a dividend of $0.138 per share. This represents a $0.55 dividend on an annualized basis and a yield of 4.92%. The ex-dividend date of this dividend was Friday, August 30th. Ramaco Resources's payout ratio is 50.93%.

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.