Ramaco Resources (NASDAQ:METC) Trading Up 4.8% – Here’s What Happened

Shares of Ramaco Resources, Inc. (NASDAQ:METC) were up 4.8% during mid-day trading on Wednesday . The stock traded as high as $9.90 and last traded at $9.92. Approximately 21,226 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 469,195 shares. The stock had previously closed at $9.47.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group cut their price target on shares of Ramaco Resources from $19.00 to $13.00 and set a “buy” rating on the stock in a research report on Monday, January 6th.

Ramaco Resources Trading Down 2.8 %

The firm’s 50-day moving average price is $10.79 and its 200 day moving average price is $11.39. The company has a market cap of $503.66 million, a price-to-earnings ratio of 14.75 and a beta of 1.18. The company has a current ratio of 1.35, a quick ratio of 0.86 and a debt-to-equity ratio of 0.23.

Ramaco Resources (NASDAQ:METC) last posted its quarterly earnings results on Monday, November 4th. The energy company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). Ramaco Resources had a return on equity of 10.17% and a net margin of 5.35%. The company had revenue of $167.40 million during the quarter, compared to analyst estimates of $156.41 million. During the same quarter in the previous year, the business posted $0.45 earnings per share. The company’s revenue for the quarter was down 10.5% compared to the same quarter last year. As a group, equities analysts expect that Ramaco Resources, Inc. will post 0.05 EPS for the current year.

Ramaco Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a dividend of $0.1375 per share. This represents a $0.55 dividend on an annualized basis and a yield of 5.74%. The ex-dividend date is Friday, February 28th. Ramaco Resources’s dividend payout ratio (DPR) is currently 84.62%.

Institutional Investors Weigh In On Ramaco Resources

Several hedge funds and other institutional investors have recently modified their holdings of METC. Wellington Management Group LLP acquired a new stake in Ramaco Resources in the 3rd quarter valued at $22,127,000. Dimensional Fund Advisors LP increased its position in shares of Ramaco Resources by 21.7% during the second quarter. Dimensional Fund Advisors LP now owns 1,380,601 shares of the energy company’s stock worth $17,186,000 after acquiring an additional 245,924 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Ramaco Resources by 22.4% in the 2nd quarter. Millennium Management LLC now owns 435,007 shares of the energy company’s stock worth $5,416,000 after acquiring an additional 79,687 shares during the last quarter. FMR LLC lifted its position 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 acquiring an additional 18,582 shares in the last quarter. Finally, Segall Bryant & Hamill LLC boosted 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 valued at $3,635,000 after purchasing an additional 4,460 shares during the last quarter. 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.