Ramaco Resources (NASDAQ:METC) Stock Price Down 5.2% – Here’s What Happened

Shares of Ramaco Resources, Inc. (NASDAQ:METC) fell 5.2% during trading on Friday . The company traded as low as $12.46 and last traded at $12.46. 71,617 shares traded hands during trading, a decline of 89% from the average session volume of 679,174 shares. The stock had previously closed at $13.15.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on METC shares. B. Riley cut their price target 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. Benchmark restated a “buy” rating and set a $20.00 price objective on shares of Ramaco Resources in a research report on Thursday, August 29th.

Ramaco Resources Stock Performance

The firm’s 50 day simple moving average is $11.13 and its 200 day simple moving average is $12.35. The firm has a market cap of $646.63 million, a PE ratio of 18.49 and a beta of 1.08. The company has a current ratio of 1.35, a quick ratio of 0.86 and a debt-to-equity ratio of 0.23.

Ramaco Resources (NASDAQ:METC) last announced its earnings results on Monday, November 4th. The energy company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). The company had revenue of $167.40 million during the quarter, compared to analysts’ expectations of $156.41 million. Ramaco Resources had a return on equity of 10.17% and a net margin of 5.35%. Ramaco Resources’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.45 EPS. On average, research analysts forecast that Ramaco Resources, Inc. will post 0.86 EPS for the current fiscal year.

Ramaco Resources Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.1375 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.55 dividend on an annualized basis and a dividend yield of 4.47%. Ramaco Resources’s dividend payout ratio is presently 84.62%.

Institutional Investors Weigh In On Ramaco Resources

Several institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP purchased a new stake in Ramaco Resources in the third quarter valued at approximately $22,127,000. Vanguard Group Inc. lifted its stake 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 buying an additional 130,593 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Ramaco Resources by 21.7% in the 2nd 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 in the last quarter. American Century Companies Inc. boosted its position in shares of 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 acquiring an additional 90,014 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in Ramaco Resources by 22.4% in the second quarter. Millennium Management LLC now owns 435,007 shares of the energy company’s stock valued at $5,416,000 after acquiring an additional 79,687 shares during 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.