Q3 2024 EPS Estimates for Ramaco Resources, Inc. (NASDAQ:METC) Cut by Analyst

Ramaco Resources, Inc. (NASDAQ:METC) – Stock analysts at B. Riley lowered their Q3 2024 earnings per share estimates for Ramaco Resources in a research note issued to investors on Wednesday, October 9th. B. Riley analyst L. Pipes now forecasts that the energy company will post earnings of ($0.12) per share for the quarter, down from their previous forecast of ($0.07). B. Riley currently has a “Buy” rating and a $18.00 price target on the stock. The consensus estimate for Ramaco Resources’ current full-year earnings is $0.88 per share. B. Riley also issued estimates for Ramaco Resources’ Q4 2024 earnings at $0.01 EPS.

Separately, Benchmark reissued a “buy” rating and issued a $20.00 target price on shares of Ramaco Resources in a report on Thursday, August 29th.

Ramaco Resources Trading Up 0.1 %

Ramaco Resources stock opened at $11.22 on Monday. The company has a current ratio of 1.33, a quick ratio of 0.90 and a debt-to-equity ratio of 0.23. The business’s fifty day simple moving average is $11.32 and its two-hundred day simple moving average is $13.27. Ramaco Resources has a 12 month low of $9.03 and a 12 month high of $22.70. The company has a market capitalization of $496.63 million, a price-to-earnings ratio of 9.59 and a beta of 1.05.

Ramaco Resources (NASDAQ:METC) last released its quarterly earnings results 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 company had revenue of $155.32 million for the quarter, compared to analyst estimates of $141.66 million.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Arkfeld Wealth Strategies L.L.C. boosted its position in Ramaco Resources by 226.1% in 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 during the last quarter. American Century Companies Inc. grew its position in Ramaco Resources by 14.9% during the second quarter. American Century Companies Inc. now owns 694,615 shares of the energy company’s stock valued at $8,648,000 after buying an additional 90,014 shares during the period. Dimensional Fund Advisors LP grew its position in Ramaco Resources by 21.7% during the second quarter. Dimensional Fund Advisors LP now owns 1,380,601 shares of the energy company’s stock valued at $17,186,000 after buying an additional 245,924 shares during the period. Vanguard Group Inc. grew its position 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. Finally, Victory Capital Management Inc. grew its position in Ramaco Resources by 442.0% during the second quarter. Victory Capital Management Inc. now owns 108,390 shares of the energy company’s stock valued at $1,349,000 after buying an additional 88,392 shares during the period. Hedge funds and other institutional investors own 74.49% of the company’s stock.

Ramaco Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a $0.138 dividend. This represents a $0.55 annualized dividend and a dividend yield of 4.92%. The ex-dividend date of this dividend was Friday, August 30th. Ramaco Resources’s dividend payout ratio is currently 47.01%.

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.