B. Riley Cuts Ramaco Resources (NASDAQ:METC) Price Target to $19.00

Ramaco Resources (NASDAQ:METC) had its price objective cut by B. Riley from $21.00 to $19.00 in a report released on Friday morning, Benzinga reports. They currently have a buy rating on the energy company’s stock.

Separately, Benchmark reissued a buy rating and set a $20.00 target price on shares of Ramaco Resources in a research note on Thursday, August 29th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $16.90.

Ramaco Resources Price Performance

METC stock opened at $9.40 on Friday. 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 has a 12 month low of $7.76 and a 12 month high of $22.70. The stock has a market cap of $416.07 million, a PE ratio of 8.03 and a beta of 1.09. The company has a 50-day moving average price of $13.00 and a 200 day moving average price of $14.55.

Ramaco Resources (NASDAQ:METC) last issued its quarterly earnings results on Wednesday, August 7th. The energy company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.23. Ramaco Resources had a return on equity of 16.30% and a net margin of 7.95%. The firm had revenue of $155.32 million during the quarter, compared to analyst estimates of $141.66 million. Equities research analysts anticipate that Ramaco Resources will post 1.44 earnings per share for the current year.

Ramaco Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be issued a dividend of $0.138 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.55 annualized dividend and a yield of 5.87%. Ramaco Resources’s payout ratio is currently 47.01%.

Hedge Funds Weigh In On Ramaco Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in METC. Innealta Capital LLC purchased a new stake in Ramaco Resources in the second quarter worth about $28,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Ramaco Resources in the 1st quarter worth approximately $93,000. Global Trust Asset Management LLC boosted its stake in shares of 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 in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Ramaco Resources during the second quarter valued at approximately $94,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Ramaco Resources by 14.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,589 shares of the energy company’s stock valued at $130,000 after buying an additional 947 shares during the period. Institutional investors own 74.49% of the company’s stock.

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.