Ramaco Resources (NASDAQ:METC) Trading Up 9.5% – Still a Buy?

Ramaco Resources, Inc. (NASDAQ:METC)’s stock price shot up 9.5% during mid-day trading on Thursday . The stock traded as high as $9.50 and last traded at $9.70. 127,705 shares were traded during mid-day trading, a decline of 78% from the average session volume of 571,103 shares. The stock had previously closed at $8.86.

Wall Street Analysts Forecast Growth

METC has been the topic of several analyst reports. Benchmark reiterated a “buy” rating on shares of Ramaco Resources in a report on Wednesday. Jefferies Financial Group cut their price objective on shares of Ramaco Resources from $19.00 to $13.00 and set a “buy” rating for the company in a research report on Monday, January 6th.

Ramaco Resources Stock Performance

The company has a debt-to-equity ratio of 0.23, a current ratio of 1.35 and a quick ratio of 0.86. The company has a market cap of $489.99 million, a price-to-earnings ratio of 14.42 and a beta of 1.17. The firm has a 50 day simple moving average of $9.63 and a 200-day simple moving average of $10.68.

Ramaco Resources (NASDAQ:METC) last issued its quarterly earnings data on Monday, March 10th. The energy company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.36). Ramaco Resources had a return on equity of 10.17% and a net margin of 5.35%. The business had revenue of $170.90 million for the quarter, compared to analyst estimates of $166.59 million. During the same period in the previous year, the business posted $0.24 earnings per share. The firm’s revenue for the quarter was down 15.7% compared to the same quarter last year. As a group, analysts predict that Ramaco Resources, Inc. will post 0.05 EPS for the current fiscal year.

Ramaco Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a $0.1375 dividend. This represents a $0.55 dividend on an annualized basis and a dividend yield of 5.90%. The ex-dividend date is Friday, February 28th. Ramaco Resources’s dividend payout ratio (DPR) is 84.62%.

Institutional Trading of Ramaco Resources

Institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. boosted its position in shares of Ramaco Resources by 18.1% during the third quarter. Victory Capital Management Inc. now owns 127,965 shares of the energy company’s stock worth $1,497,000 after buying an additional 19,575 shares during the period. Empowered Funds LLC increased its stake in Ramaco Resources by 5.3% during the third quarter. Empowered Funds LLC now owns 115,017 shares of the energy company’s stock worth $1,346,000 after purchasing an additional 5,762 shares during the period. Segall Bryant & Hamill LLC lifted its position in shares of Ramaco Resources by 1.5% during the third quarter. Segall Bryant & Hamill LLC now owns 310,688 shares of the energy company’s stock worth $3,635,000 after purchasing an additional 4,460 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Ramaco Resources by 231.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 262,354 shares of the energy company’s stock valued at $3,070,000 after purchasing an additional 183,163 shares during the period. Finally, Dynamic Technology Lab Private Ltd grew its holdings in shares of Ramaco Resources by 190.4% in the third quarter. Dynamic Technology Lab Private Ltd now owns 89,958 shares of the energy company’s stock valued at $1,053,000 after purchasing an additional 58,980 shares in the last quarter. Institutional investors and hedge funds 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.