Ramaco Resources (NASDAQ:METC) Shares Gap Up to $12.45

Ramaco Resources, Inc. (NASDAQ:METC)’s share price gapped up prior to trading on Monday . The stock had previously closed at $12.45, but opened at $13.15. Ramaco Resources shares last traded at $13.44, with a volume of 80,522 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have recently commented on METC. Benchmark decreased their target price on shares of Ramaco Resources from $24.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, May 10th. B. Riley lowered their price objective on Ramaco Resources from $24.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.50.

Ramaco Resources Price Performance

The company has a market capitalization of $597.95 million, a P/E ratio of 11.49 and a beta of 1.09. The business’s 50-day moving average is $13.83 and its two-hundred day moving average is $16.35. The company has a quick ratio of 0.95, a current ratio of 1.23 and a debt-to-equity ratio of 0.18.

Ramaco Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, June 15th. Stockholders of record on Saturday, June 1st were issued a $0.138 dividend. This represents a $0.55 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date was Friday, May 31st. Ramaco Resources’s payout ratio is currently 47.01%.

Insider Activity at Ramaco Resources

In related news, General Counsel Evan H. Jenkins bought 7,158 shares of Ramaco Resources stock in a transaction on Wednesday, May 29th. The stock was acquired at an average price of $13.97 per share, with a total value of $99,997.26. Following the acquisition, the general counsel now directly owns 23,480 shares of the company’s stock, valued at $328,015.60. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 45.98% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in METC. Vanguard Group Inc. boosted its stake in Ramaco Resources by 8.9% during the first quarter. Vanguard Group Inc. now owns 1,591,146 shares of the energy company’s stock valued at $26,795,000 after buying an additional 130,593 shares during the period. Russell Investments Group Ltd. bought a new stake in shares of Ramaco Resources during the 4th quarter valued at about $2,023,000. Arkfeld Wealth Strategies L.L.C. grew its holdings in shares of Ramaco Resources by 226.1% during the first quarter. Arkfeld Wealth Strategies L.L.C. now owns 133,502 shares of the energy company’s stock worth $2,111,000 after purchasing an additional 92,567 shares in the last quarter. Level Four Advisory Services LLC bought a new position in shares of Ramaco Resources in the fourth quarter worth approximately $1,198,000. Finally, Cypress Capital Management LLC WY purchased a new stake in Ramaco Resources in the fourth quarter valued at approximately $1,133,000. 74.49% of the stock is currently owned by hedge funds and other 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.