CenterBook Partners LP Purchases 1,009,782 Shares of Ramaco Resources, Inc. (NASDAQ:METC)

CenterBook Partners LP lifted its position in Ramaco Resources, Inc. (NASDAQ:METC) by 151.0% during the 1st quarter, Holdings Channel reports. The firm owned 1,678,594 shares of the energy company’s stock after acquiring an additional 1,009,782 shares during the period. Ramaco Resources comprises about 0.9% of CenterBook Partners LP’s holdings, making the stock its 20th biggest holding. CenterBook Partners LP’s holdings in Ramaco Resources were worth $13,815,000 as of its most recent filing with the SEC.

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

Wall Street Analyst Weigh In

Several research firms recently commented on METC. B. Riley reduced their price objective on Ramaco Resources from $18.00 to $14.00 and set a “buy” rating for the company in a report on Friday, April 11th. Benchmark reduced their price objective on Ramaco Resources from $18.00 to $14.00 and set a “buy” rating for the company in a report on Tuesday, May 13th. Finally, Wall Street Zen downgraded Ramaco Resources from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd.

Ramaco Resources Trading Down 0.1%

Ramaco Resources stock opened at $16.62 on Monday. The business has a 50-day simple moving average of $10.56 and a two-hundred day simple moving average of $9.77. The company has a market cap of $909.11 million, a P/E ratio of -207.75 and a beta of 1.30. Ramaco Resources, Inc. has a 52-week low of $6.24 and a 52-week high of $18.87. The company has a quick ratio of 0.87, a current ratio of 1.32 and a debt-to-equity ratio of 0.33.

Ramaco Resources (NASDAQ:METC) last released 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 business had revenue of $115.61 million during the quarter, compared to the consensus estimate of $137.10 million. Ramaco Resources had a negative return on equity of 0.08% and a negative net margin of 0.05%. The business’s quarterly revenue was down 22.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.23 EPS. Analysts predict that Ramaco Resources, Inc. will post 0.05 EPS for the current year.

Ramaco Resources Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a dividend of $0.0688 per share. The ex-dividend date was Friday, May 30th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.65%. Ramaco Resources’s dividend payout ratio is currently -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.