Ramaco Resources (NASDAQ:METC) Stock Price Up 6.1% Following Dividend Announcement

Shares of Ramaco Resources, Inc. (NASDAQ:METC) were up 6.1% on Wednesday following a dividend announcement from the company. The stock traded as high as $13.14 and last traded at $13.10. Approximately 94,257 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 676,786 shares. The stock had previously closed at $12.35.

The newly announced dividend which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.1375 per share. 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 4.20%. Ramaco Resources’s dividend payout ratio is 84.62%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on METC shares. B. Riley dropped their price target on shares of 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 reaffirmed a “buy” rating and set a $20.00 price target on shares of Ramaco Resources in a research note on Thursday, August 29th.

Ramaco Resources Stock Performance

The company has a market cap of $688.14 million, a price-to-earnings ratio of 19.00 and a beta of 1.08. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.35 and a quick ratio of 0.86. The firm has a fifty day simple moving average of $11.27 and a 200 day simple moving average of $12.27.

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

Institutional Trading of Ramaco Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in METC. Innealta Capital LLC acquired a new position in shares of Ramaco Resources during the second quarter worth approximately $28,000. Pingora Partners LLC raised its stake in Ramaco Resources by 330.2% during the 3rd quarter. Pingora Partners LLC now owns 3,700 shares of the energy company’s stock valued at $43,000 after purchasing an additional 2,840 shares during the last quarter. Point72 DIFC Ltd bought a new stake in Ramaco Resources in the 3rd quarter valued at $45,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Ramaco Resources in the 2nd quarter worth $94,000. Finally, Koss Olinger Consulting LLC bought a new position in shares of Ramaco Resources during the 2nd quarter worth about $134,000. 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.