Ramaco Resources (NASDAQ:METC) Shares Down 4.5%

Ramaco Resources, Inc. (NASDAQ:METC) shares traded down 4.5% during mid-day trading on Thursday . The stock traded as low as $11.56 and last traded at $11.57. 44,202 shares traded hands during trading, a decline of 94% from the average session volume of 744,037 shares. The stock had previously closed at $12.12.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. B. Riley reduced their price objective on shares of Ramaco Resources from $24.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Benchmark reaffirmed a “buy” rating and set a $20.00 price target on shares of Ramaco Resources in a research note on Friday, August 9th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $17.50.

Ramaco Resources Stock Performance

The company has a quick ratio of 0.95, a current ratio of 1.23 and a debt-to-equity ratio of 0.18. The company has a market cap of $522.30 million, a PE ratio of 10.09 and a beta of 1.09. The stock’s 50 day simple moving average is $13.14 and its two-hundred day simple moving average is $14.96.

Ramaco Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.138 per share. This represents a $0.55 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date of this dividend is Friday, August 30th. Ramaco Resources’s dividend payout ratio is currently 47.01%.

Insider Transactions at Ramaco Resources

In other Ramaco Resources news, General Counsel Evan H. Jenkins acquired 7,158 shares of the company’s stock in a transaction dated Wednesday, May 29th. The stock was bought at an average price of $13.97 per share, with a total value of $99,997.26. Following the completion of the transaction, the general counsel now directly owns 23,480 shares of the company’s stock, valued at $328,015.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 45.98% of the company’s stock.

Institutional Investors Weigh In On Ramaco Resources

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Ramaco Resources by 8.9% in the first quarter. Vanguard Group Inc. now owns 1,591,146 shares of the energy company’s stock worth $26,795,000 after acquiring an additional 130,593 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Ramaco Resources by 21.7% in 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. American Century Companies Inc. grew its holdings in Ramaco Resources by 14.9% during the 2nd quarter. American Century Companies Inc. now owns 694,615 shares of the energy company’s stock valued at $8,648,000 after purchasing an additional 90,014 shares in the last quarter. Millennium Management LLC grew its holdings in Ramaco Resources by 22.4% during the 2nd quarter. Millennium Management LLC now owns 435,007 shares of the energy company’s stock valued at $5,416,000 after purchasing an additional 79,687 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Ramaco Resources by 5.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 383,422 shares of the energy company’s stock valued at $4,774,000 after purchasing an additional 18,393 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.