Q3 2024 EPS Estimates for Ramaco Resources, Inc. (NASDAQ:METC) Cut by Analyst

Ramaco Resources, Inc. (NASDAQ:METC) – Stock analysts at B. Riley lowered their Q3 2024 earnings estimates for Ramaco Resources in a report issued on Wednesday, October 9th. B. Riley analyst L. Pipes now anticipates that the energy company will earn ($0.12) per share for the quarter, down from their prior forecast of ($0.07). B. Riley currently has a “Buy” rating and a $18.00 price objective on the stock. The consensus estimate for Ramaco Resources’ current full-year earnings is $0.88 per share. B. Riley also issued estimates for Ramaco Resources’ Q4 2024 earnings at $0.01 EPS.

Ramaco Resources (NASDAQ:METC) last released its earnings results on Wednesday, August 7th. The energy company reported $0.08 EPS for the quarter, topping the consensus estimate of ($0.15) by $0.23. Ramaco Resources had a net margin of 7.95% and a return on equity of 16.30%. The firm had revenue of $155.32 million for the quarter, compared to the consensus estimate of $141.66 million.

Separately, Benchmark reissued a “buy” rating and issued a $20.00 target price on shares of Ramaco Resources in a report on Thursday, August 29th.

Ramaco Resources Price Performance

METC stock opened at $11.22 on Monday. Ramaco Resources has a one year low of $9.03 and a one year high of $22.70. The company’s fifty day moving average price is $11.32 and its 200-day moving average price is $13.27. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.90 and a current ratio of 1.33. The company has a market capitalization of $496.63 million, a PE ratio of 9.59 and a beta of 1.05.

Institutional Investors Weigh In On Ramaco Resources

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings 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 purchasing an additional 130,593 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings 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 purchasing an additional 245,924 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Ramaco Resources by 14.9% in the second quarter. American Century Companies Inc. now owns 694,615 shares of the energy company’s stock worth $8,648,000 after purchasing an additional 90,014 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Ramaco Resources by 22.4% in the second quarter. Millennium Management LLC now owns 435,007 shares of the energy company’s stock worth $5,416,000 after purchasing an additional 79,687 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Ramaco Resources by 5.0% in the second quarter. Bank of New York Mellon Corp now owns 383,422 shares of the energy company’s stock worth $4,774,000 after purchasing an additional 18,393 shares during the last quarter. Hedge funds and other institutional investors own 74.49% of the company’s stock.

Ramaco Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a dividend of $0.138 per share. This represents a $0.55 dividend on an annualized basis and a yield of 4.92%. The ex-dividend date was Friday, August 30th. Ramaco Resources’s payout ratio is 47.01%.

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.