Ramaco Resources (NASDAQ:METC) Shares Down 2.4%

Ramaco Resources, Inc. (NASDAQ:METC)’s stock price was down 2.4% on Monday . The company traded as low as $13.88 and last traded at $13.93. Approximately 20,790 shares changed hands during mid-day trading, a decline of 97% from the average daily volume of 780,339 shares. The stock had previously closed at $14.27.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on METC shares. Benchmark cut their price target on shares of Ramaco Resources from $24.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. B. Riley cut their price target on shares of Ramaco Resources from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $17.50.

Ramaco Resources Stock Down 3.1 %

The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.95 and a current ratio of 1.23. The stock has a market capitalization of $612.12 million, a price-to-earnings ratio of 12.20 and a beta of 1.09. The firm’s fifty day simple moving average is $13.60 and its 200 day simple moving average is $16.11.

Ramaco Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, June 15th. Shareholders 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 annualized dividend and a yield of 3.99%. Ramaco Resources’s dividend payout ratio (DPR) is currently 47.01%.

Insiders Place Their Bets

In related news, General Counsel Evan H. Jenkins bought 7,158 shares of the company’s stock in a transaction on Wednesday, May 29th. The shares were purchased at an average cost of $13.97 per share, for a total transaction of $99,997.26. Following the acquisition, the general counsel now owns 23,480 shares of the company’s stock, valued at approximately $328,015.60. The purchase was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 45.98% of the company’s stock.

Hedge Funds Weigh In On Ramaco Resources

Several hedge funds have recently made changes to their positions in METC. SG Americas Securities LLC bought a new position in shares of Ramaco Resources during the 4th quarter worth approximately $328,000. Raymond James & Associates acquired a new stake in shares of Ramaco Resources during the fourth quarter worth $290,000. Global Retirement Partners LLC acquired a new stake in shares of Ramaco Resources during the fourth quarter worth $36,000. Strs Ohio acquired a new stake in shares of Ramaco Resources during the fourth quarter worth $146,000. Finally, Cornercap Investment Counsel Inc. acquired a new stake in shares of Ramaco Resources during the fourth quarter worth $436,000. 74.49% of the stock is owned by institutional investors.

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.