Ramaco Resources (NASDAQ:METC) Shares Gap Up to $12.45

Ramaco Resources, Inc. (NASDAQ:METC) shares gapped up before the market opened on Monday . The stock had previously closed at $12.45, but opened at $13.15. Ramaco Resources shares last traded at $13.44, with a volume of 80,522 shares.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on METC shares. Benchmark lowered their price objective on shares of Ramaco Resources from $24.00 to $20.00 and set a “buy” rating on the stock in a report on Friday, May 10th. B. Riley lowered their price objective on shares of Ramaco Resources from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, May 10th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $17.50.

Ramaco Resources Stock Performance

The company’s fifty day moving average price is $13.79 and its 200 day moving average price is $16.34. The company has a market cap of $626.28 million, a PE ratio of 12.09 and a beta of 1.09. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.23 and a quick ratio of 0.95.

Ramaco Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, June 15th. Investors of record on Saturday, June 1st were issued a dividend of $0.138 per share. The ex-dividend date was Friday, May 31st. This represents a $0.55 dividend on an annualized basis and a yield of 3.90%. Ramaco Resources’s dividend payout ratio (DPR) is presently 47.01%.

Insider Buying and Selling

In related news, General Counsel Evan H. Jenkins acquired 7,158 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The stock was acquired at an average price of $13.97 per share, for a total transaction of $99,997.26. Following the completion of the acquisition, the general counsel now owns 23,480 shares of the company’s stock, valued at approximately $328,015.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 45.98% of the stock is currently owned by corporate insiders.

Institutional Trading of Ramaco Resources

Large investors have recently added to or reduced their stakes in the stock. Semanteon Capital Management LP purchased a new stake in Ramaco Resources during the fourth quarter worth about $830,000. Arkfeld Wealth Strategies L.L.C. increased its stake in shares of Ramaco Resources by 226.1% in the first quarter. Arkfeld Wealth Strategies L.L.C. now owns 133,502 shares of the energy company’s stock worth $2,111,000 after purchasing an additional 92,567 shares in the last quarter. Level Four Advisory Services LLC purchased a new position in shares of Ramaco Resources in the fourth quarter worth about $1,198,000. Cypress Capital Management LLC WY purchased a new position in shares of Ramaco Resources in the fourth quarter worth about $1,133,000. Finally, Truist Financial Corp purchased a new position in shares of Ramaco Resources in the fourth quarter worth about $415,000. Hedge funds and other institutional investors own 74.49% of the company’s stock.

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.