Ramaco Resources (NASDAQ:METC) Trading Up 12.4%

Ramaco Resources, Inc. (NASDAQ:METC)’s share price rose 12.4% during mid-day trading on Tuesday . The stock traded as high as $11.59 and last traded at $11.40. Approximately 549,185 shares were traded during mid-day trading, a decline of 24% from the average daily volume of 723,592 shares. The stock had previously closed at $10.14.

Analyst Ratings Changes

Several analysts have weighed in on METC shares. B. Riley dropped their price objective on Ramaco Resources from $19.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Benchmark reissued a “buy” rating and set a $20.00 price target on shares of Ramaco Resources in a research note on Thursday, August 29th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $16.70.

Ramaco Resources Trading Up 9.5 %

The company has a market capitalization of $491.32 million, a P/E ratio of 9.91 and a beta of 1.05. The business has a 50 day moving average price of $11.98 and a 200 day moving average price of $13.84. The company has a current ratio of 1.33, a quick ratio of 0.90 and a debt-to-equity ratio of 0.23.

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

Ramaco Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a dividend of $0.138 per share. This represents a $0.55 annualized dividend and a dividend yield of 4.97%. The ex-dividend date was Friday, August 30th. Ramaco Resources’s dividend payout ratio is 47.01%.

Institutional Investors Weigh In On Ramaco Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Innealta Capital LLC bought a new stake in shares of Ramaco Resources in the second quarter worth $28,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Ramaco Resources during the 1st quarter worth about $93,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Ramaco Resources in the 2nd quarter valued at about $94,000. Global Trust Asset Management LLC grew its holdings in shares of Ramaco Resources by 2,071.7% in the 1st quarter. Global Trust Asset Management LLC now owns 7,058 shares of the energy company’s stock valued at $119,000 after acquiring an additional 6,733 shares in the last quarter. Finally, Koss Olinger Consulting LLC acquired a new stake in shares of Ramaco Resources in the second quarter valued at about $134,000. 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.