Ramaco Resources (NASDAQ:METC) Stock Price Down 5.7% – Time to Sell?

Ramaco Resources, Inc. (NASDAQ:METC)’s share price dropped 5.7% during mid-day trading on Thursday . The company traded as low as $13.11 and last traded at $13.14. Approximately 128,154 shares changed hands during trading, a decline of 81% from the average daily volume of 676,199 shares. The stock had previously closed at $13.94.

Analyst Upgrades and Downgrades

METC has been the topic of a number of analyst reports. B. Riley reduced their price objective 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 restated a “buy” rating and issued a $20.00 price target on shares of Ramaco Resources in a research note on Thursday, August 29th.

Ramaco Resources Trading Down 8.0 %

The business’s fifty day moving average is $11.57 and its 200-day moving average is $12.27. The firm has a market cap of $673.43 million, a P/E ratio of 20.22 and a beta of 1.14. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.86 and a current ratio of 1.35.

Ramaco Resources (NASDAQ:METC) last released its quarterly earnings data on Monday, November 4th. The energy company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The company had revenue of $167.40 million during the quarter, compared to the consensus estimate of $156.41 million. Ramaco Resources had a net margin of 5.35% and a return on equity of 10.17%. The business’s revenue was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.45 EPS. Analysts predict that Ramaco Resources, Inc. will post 0.86 EPS for the current year.

Ramaco Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.1375 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.55 annualized dividend and a dividend yield of 4.29%. Ramaco Resources’s dividend payout ratio is currently 84.62%.

Institutional Trading of Ramaco Resources

Hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP acquired a new stake in Ramaco Resources in the 3rd quarter valued at $22,127,000. Vanguard Group Inc. grew its position in Ramaco Resources by 8.9% in the 1st quarter. Vanguard Group Inc. now owns 1,591,146 shares of the energy company’s stock valued at $26,795,000 after purchasing an additional 130,593 shares during the period. Dimensional Fund Advisors LP grew its position 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 valued at $17,186,000 after purchasing an additional 245,924 shares during the period. American Century Companies Inc. grew its position in Ramaco Resources by 14.9% in the 2nd quarter. American Century Companies Inc. now owns 694,615 shares of the energy company’s stock valued at $8,648,000 after purchasing an additional 90,014 shares during the period. Finally, Millennium Management LLC grew its position in Ramaco Resources by 22.4% in the 2nd quarter. Millennium Management LLC now owns 435,007 shares of the energy company’s stock valued at $5,416,000 after purchasing an additional 79,687 shares during the period. Institutional investors own 74.49% of the company’s stock.

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.