Ramaco Resources, Inc. (NASDAQ:METC) Plans $0.14 Quarterly Dividend

Ramaco Resources, Inc. (NASDAQ:METC) announced a quarterly dividend on Saturday, November 30th,RTT News reports. Shareholders of record on Monday, December 2nd will be given a dividend of 0.1375 per share by the energy company on Monday, December 16th. This represents a $0.55 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date of this dividend is Monday, December 2nd.

Ramaco Resources has a dividend payout ratio of 27.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Ramaco Resources to earn $2.06 per share next year, which means the company should continue to be able to cover its $0.55 annual dividend with an expected future payout ratio of 26.7%.

Ramaco Resources Price Performance

Shares of NASDAQ:METC opened at $12.75 on Friday. Ramaco Resources has a 12 month low of $9.03 and a 12 month high of $22.70. The firm has a market capitalization of $669.76 million, a P/E ratio of 19.62 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 company’s fifty day moving average price is $11.43 and its 200 day moving average price is $12.27.

Ramaco Resources (NASDAQ:METC) last posted 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 firm had revenue of $167.40 million for the quarter, compared to analyst estimates of $156.41 million. Ramaco Resources had a return on equity of 10.17% and a net margin of 5.35%. The firm’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.45 EPS. As a group, sell-side analysts predict that Ramaco Resources will post 0.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on METC. Benchmark restated a “buy” rating and issued a $20.00 price objective on shares of Ramaco Resources in a research note on Thursday, August 29th. B. Riley dropped their price target on Ramaco Resources from $19.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th.

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.