Ramaco Resources (NASDAQ:METC) Shares Up 12.4%

Ramaco Resources, Inc. (NASDAQ:METC)’s stock price traded up 12.4% during mid-day trading on Tuesday . The stock traded as high as $11.59 and last traded at $11.40. 549,185 shares traded hands during mid-day trading, a decline of 24% from the average session volume of 723,592 shares. The stock had previously closed at $10.14.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on METC. Benchmark restated a “buy” rating and issued a $20.00 price target on shares of Ramaco Resources in a research note on Thursday, August 29th. B. Riley lowered their target price on Ramaco Resources from $19.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $16.70.

Ramaco Resources Price Performance

The business has a fifty day moving average price of $11.98 and a 200 day moving average price of $13.84. The company has a market cap of $491.32 million, a price-to-earnings ratio of 9.91 and a beta of 1.05. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.90 and a current ratio of 1.33.

Ramaco Resources (NASDAQ:METC) last released its quarterly earnings data 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 net margin of 7.95% and a return on equity of 16.30%. The business had revenue of $155.32 million during the quarter, compared to analysts’ expectations of $141.66 million. As a group, research analysts anticipate that Ramaco Resources, Inc. will post 1.44 earnings per share for the current year.

Ramaco Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a $0.138 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.55 dividend on an annualized basis and a yield of 4.97%. Ramaco Resources’s payout ratio is presently 47.01%.

Institutional Trading of Ramaco Resources

Hedge funds have recently made changes to their positions in the company. Innealta Capital LLC bought a new position in Ramaco Resources in the 2nd quarter valued at approximately $28,000. Allspring Global Investments Holdings LLC bought a new stake in Ramaco Resources during the 1st quarter worth approximately $93,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Ramaco Resources during the second quarter valued at $94,000. Global Trust Asset Management LLC lifted its holdings 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 worth $119,000 after purchasing an additional 6,733 shares during the period. Finally, Koss Olinger Consulting LLC bought a new stake in shares of Ramaco Resources in the second quarter worth $134,000. 74.49% of the stock is owned by institutional investors and hedge funds.

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.