Cubist Systematic Strategies LLC Trims Stock Position in Ramaco Resources, Inc. (NASDAQ:METC)

Cubist Systematic Strategies LLC lowered its position in shares of Ramaco Resources, Inc. (NASDAQ:METC - Free Report) by 92.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,344 shares of the energy company's stock after selling 270,918 shares during the period. Cubist Systematic Strategies LLC's holdings in Ramaco Resources were worth $266,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Quadrature Capital Ltd bought a new stake in Ramaco Resources during the fourth quarter valued at approximately $632,000. Global Trust Asset Management LLC lifted its position in Ramaco Resources by 2,071.7% during the first quarter. Global Trust Asset Management LLC now owns 7,058 shares of the energy company's stock valued at $119,000 after purchasing an additional 6,733 shares during the last quarter. Arkfeld Wealth Strategies L.L.C. lifted its position in Ramaco Resources by 226.1% during the first quarter. Arkfeld Wealth Strategies L.L.C. now owns 133,502 shares of the energy company's stock valued at $2,111,000 after purchasing an additional 92,567 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Ramaco Resources during the first quarter valued at approximately $93,000. Finally, Principal Financial Group Inc. lifted its position in Ramaco Resources by 111.1% during the first quarter. Principal Financial Group Inc. now owns 54,732 shares of the energy company's stock valued at $922,000 after purchasing an additional 28,806 shares during the last quarter. Hedge funds and other institutional investors own 74.49% of the company's stock.

Ramaco Resources Trading Down 2.0 %

Shares of METC traded down $0.22 during mid-day trading on Tuesday, reaching $10.87. The company's stock had a trading volume of 312,691 shares, compared to its average volume of 704,594. The stock has a market cap of $481.14 million, a PE ratio of 9.43 and a beta of 1.05. The company has a current ratio of 1.33, a quick ratio of 0.90 and a debt-to-equity ratio of 0.23. Ramaco Resources, Inc. has a 52 week low of $9.03 and a 52 week high of $22.70. The company's fifty day moving average price is $11.31 and its two-hundred day moving average price is $13.22.

Ramaco Resources (NASDAQ:METC - Get Free Report) last posted 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. Ramaco Resources had a net margin of 7.95% and a return on equity of 16.30%. The company had revenue of $155.32 million during the quarter, compared to analyst estimates of $141.66 million. On average, analysts predict that Ramaco Resources, Inc. will post 0.88 earnings per share for the current fiscal year.

Ramaco Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a dividend of $0.138 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.55 dividend on an annualized basis and a yield of 5.08%. Ramaco Resources's dividend payout ratio is currently 47.01%.

Wall Street Analysts Forecast Growth

METC has been the subject of several research analyst reports. B. Riley dropped their target price on shares of Ramaco Resources from $19.00 to $18.00 and set a "buy" rating for the company in a research report on Tuesday, September 17th. Benchmark restated a "buy" rating and issued a $20.00 price objective on shares of Ramaco Resources in a report on Thursday, August 29th.

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.