B. Riley Trims Ramaco Resources (NASDAQ:METC) Target Price to $18.00

Ramaco Resources (NASDAQ:METC) had its price objective decreased by B. Riley from $19.00 to $18.00 in a report released on Tuesday morning, Benzinga reports. B. Riley currently has a buy rating on the energy company’s stock. B. Riley also issued estimates for Ramaco Resources’ Q3 2024 earnings at ($0.07) EPS, Q4 2024 earnings at $0.13 EPS, FY2025 earnings at $1.61 EPS and FY2026 earnings at $1.53 EPS.

Separately, Benchmark restated a buy rating and set a $20.00 price objective on shares of Ramaco Resources in a research report on Thursday, August 29th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $16.70.

Ramaco Resources Stock Performance

NASDAQ:METC opened at $10.14 on Tuesday. The firm has a market capitalization of $448.83 million, a PE ratio of 8.67 and a beta of 1.05. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.33 and a quick ratio of 0.90. The business’s fifty day moving average price is $12.08 and its 200 day moving average price is $13.97. Ramaco Resources has a 12 month low of $8.72 and a 12 month high of $22.70.

Ramaco Resources (NASDAQ:METC) last released its quarterly earnings data on Wednesday, August 7th. The energy company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.23. The business had revenue of $155.32 million for the quarter, compared to the consensus estimate of $141.66 million. Ramaco Resources had a return on equity of 16.30% and a net margin of 7.95%. On average, sell-side analysts anticipate that Ramaco Resources will post 1.44 earnings per share for the current fiscal year.

Ramaco Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a dividend of $0.138 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.55 dividend on an annualized basis and a yield of 5.44%. Ramaco Resources’s dividend payout ratio is presently 47.01%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Ramaco Resources by 8.9% in the first quarter. Vanguard Group Inc. now owns 1,591,146 shares of the energy company’s stock valued at $26,795,000 after acquiring an additional 130,593 shares during the period. Dimensional Fund Advisors LP boosted its stake 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 worth $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% during the 2nd quarter. American Century Companies Inc. now owns 694,615 shares of the energy company’s stock worth $8,648,000 after purchasing an additional 90,014 shares during the last quarter. Millennium Management LLC increased its stake in Ramaco Resources by 22.4% in the second 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. Finally, Bank of New York Mellon Corp raised its holdings in shares of Ramaco Resources by 5.0% in the second quarter. Bank of New York Mellon Corp now owns 383,422 shares of the energy company’s stock valued at $4,774,000 after buying an additional 18,393 shares during the last quarter. Institutional investors and hedge funds 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.