Ramaco Resources (NASDAQ:METC) Trading Down 11.6% – Should You Sell?

Ramaco Resources, Inc. (NASDAQ:METC) dropped 11.6% during mid-day trading on Wednesday . The stock traded as low as $10.45 and last traded at $10.27. Approximately 221,798 shares were traded during trading, a decline of 60% from the average daily volume of 554,701 shares. The stock had previously closed at $11.62.

Wall Street Analyst Weigh In

METC has been the topic of several research reports. Jefferies Financial Group reduced their price target on shares of Ramaco Resources from $19.00 to $13.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Benchmark reissued a “buy” rating on shares of Ramaco Resources in a report on Wednesday.

Ramaco Resources Price Performance

The company has a current ratio of 1.35, a quick ratio of 0.86 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $487.84 million, a P/E ratio of 14.30 and a beta of 1.17. The company has a fifty day simple moving average of $9.66 and a two-hundred day simple moving average of $10.69.

Ramaco Resources (NASDAQ:METC) last announced its quarterly earnings results on Monday, March 10th. The energy company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.36). The firm had revenue of $170.90 million during the quarter, compared to analyst estimates of $166.59 million. Ramaco Resources had a net margin of 5.35% and a return on equity of 10.17%. The business’s revenue was down 15.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.24 earnings per share. Sell-side analysts expect that Ramaco Resources, Inc. will post 0.05 EPS for the current fiscal year.

Ramaco Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a $0.1375 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.55 dividend on an annualized basis and a dividend yield of 5.92%. Ramaco Resources’s dividend payout ratio is 84.62%.

Institutional Trading of Ramaco Resources

A number of hedge funds have recently modified their holdings of METC. Victory Capital Management Inc. raised its position in shares of Ramaco Resources by 18.1% in the 3rd quarter. Victory Capital Management Inc. now owns 127,965 shares of the energy company’s stock valued at $1,497,000 after acquiring an additional 19,575 shares during the period. Empowered Funds LLC raised its holdings in Ramaco Resources by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 115,017 shares of the energy company’s stock worth $1,346,000 after buying an additional 5,762 shares during the period. Segall Bryant & Hamill LLC raised its holdings in Ramaco Resources by 1.5% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 310,688 shares of the energy company’s stock worth $3,635,000 after buying an additional 4,460 shares during the period. Charles Schwab Investment Management Inc. raised its holdings 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 worth $3,070,000 after buying an additional 183,163 shares during the period. Finally, Dynamic Technology Lab Private Ltd raised its holdings 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 worth $1,053,000 after buying an additional 58,980 shares during the period. 74.49% of the stock is currently owned by institutional investors and hedge funds.

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.