Ramaco Resources (NASDAQ:METC) Stock Price Up 11.1% – Here’s Why

Ramaco Resources, Inc. (NASDAQ:METC)’s share price rose 11.1% during trading on Wednesday . The stock traded as high as $14.21 and last traded at $14.07. Approximately 135,005 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 672,886 shares. The stock had previously closed at $12.66.

Analysts Set New Price Targets

METC has been the subject of several analyst reports. Benchmark reissued 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 reduced their target price on Ramaco Resources from $19.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, September 17th.

Ramaco Resources Trading Down 8.0 %

The company has a market capitalization of $673.96 million, a P/E ratio of 19.74 and a beta of 1.14. 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 firm has a fifty day moving average price of $11.60 and a 200-day moving average price of $12.27.

Ramaco Resources (NASDAQ:METC) last announced 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). Ramaco Resources had a net margin of 5.35% and a return on equity of 10.17%. The firm had revenue of $167.40 million for the quarter, compared to the consensus estimate of $156.41 million. During the same period last year, the company posted $0.45 earnings per share. Ramaco Resources’s revenue for the quarter was down 10.5% on a year-over-year basis. On average, equities research analysts anticipate that Ramaco Resources, Inc. will post 0.86 earnings per share for the current year.

Ramaco Resources Cuts Dividend

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

Hedge Funds Weigh In On Ramaco Resources

Several institutional investors and hedge funds have recently bought and sold shares of METC. American Century Companies Inc. boosted its holdings in shares of Ramaco Resources by 14.9% in the second quarter. American Century Companies Inc. now owns 694,615 shares of the energy company’s stock worth $8,648,000 after acquiring an additional 90,014 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Ramaco Resources by 21.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,380,601 shares of the energy company’s stock worth $17,186,000 after acquiring an additional 245,924 shares during the period. Dynamic Technology Lab Private Ltd boosted its holdings in shares of Ramaco Resources by 190.4% in the third quarter. Dynamic Technology Lab Private Ltd now owns 89,958 shares of the energy company’s stock worth $1,053,000 after acquiring an additional 58,980 shares during the period. 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 worth $26,795,000 after acquiring an additional 130,593 shares during the period. Finally, Lunt Capital Management Inc. boosted its holdings in shares of Ramaco Resources by 619.0% in the third quarter. Lunt Capital Management Inc. now owns 71,900 shares of the energy company’s stock worth $841,000 after acquiring an additional 61,900 shares during the period. 74.49% of the stock is owned by institutional investors.

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.