Ramaco Resources (NASDAQ:METC) Trading Up 4.8% – What’s Next?

Shares of Ramaco Resources, Inc. (NASDAQ:METC) were up 4.8% during mid-day trading on Wednesday . The company traded as high as $9.90 and last traded at $9.92. Approximately 21,226 shares were traded during mid-day trading, a decline of 95% from the average daily volume of 469,195 shares. The stock had previously closed at $9.47.

Analyst Ratings Changes

Separately, Jefferies Financial Group dropped their target price on shares of Ramaco Resources from $19.00 to $13.00 and set a “buy” rating on the stock in a research note on Monday, January 6th.

Ramaco Resources Trading Up 2.8 %

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 stock has a market capitalization of $511.37 million, a PE ratio of 15.03 and a beta of 1.18. The stock’s 50 day simple moving average is $10.91 and its two-hundred day simple moving average is $11.41.

Ramaco Resources (NASDAQ:METC) last announced its quarterly 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 business had revenue of $167.40 million for the quarter, compared to analysts’ expectations 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 company posted $0.45 earnings per share. On average, sell-side analysts expect that Ramaco Resources, Inc. will post 0.05 EPS for the current year.

Ramaco Resources Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a dividend of $0.1375 per share. This represents a $0.55 dividend on an annualized basis and a yield of 5.65%. The ex-dividend date was Monday, December 2nd. Ramaco Resources’s dividend payout ratio (DPR) is presently 84.62%.

Hedge Funds Weigh In On Ramaco Resources

Several institutional investors and hedge funds have recently made changes to their positions in METC. Harbour Capital Advisors LLC purchased a new stake in Ramaco Resources during the 4th quarter valued at $540,000. Dynamic Technology Lab Private Ltd boosted its position in Ramaco Resources by 190.4% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 89,958 shares of the energy company’s stock valued at $1,053,000 after buying an additional 58,980 shares during the period. Dimensional Fund Advisors LP boosted its position in Ramaco Resources by 21.7% during 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 buying an additional 245,924 shares during the period. Barclays PLC boosted its position in Ramaco Resources by 369.7% during the 3rd quarter. Barclays PLC now owns 44,409 shares of the energy company’s stock valued at $519,000 after buying an additional 34,954 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Ramaco Resources by 231.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 262,354 shares of the energy company’s stock valued at $3,070,000 after buying an additional 183,163 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.