Ramaco Resources (NASDAQ:METC) Stock Price Up 6.1% After Dividend Announcement

Ramaco Resources, Inc. (NASDAQ:METC)’s stock price rose 6.1% during mid-day trading on Wednesday following a dividend announcement from the company. The stock traded as high as $13.14 and last traded at $13.10. Approximately 94,257 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 676,786 shares. The stock had previously closed at $12.35.

The newly announced dividend which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.1375 per share. This represents a $0.55 annualized dividend and a yield of 4.31%. The ex-dividend date is Monday, December 2nd. Ramaco Resources’s dividend payout ratio (DPR) is presently 84.62%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. B. Riley lowered their price objective on shares of Ramaco Resources from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. Benchmark reaffirmed a “buy” rating and set a $20.00 price target on shares of Ramaco Resources in a research note on Thursday, August 29th.

Ramaco Resources Trading Up 3.4 %

The business has a 50 day simple moving average of $11.27 and a two-hundred day simple moving average of $12.27. The stock has a market cap of $670.81 million, a price-to-earnings ratio of 19.00 and a beta of 1.08. The company has a current ratio of 1.35, a quick ratio of 0.86 and a debt-to-equity ratio of 0.23.

Ramaco Resources (NASDAQ:METC) last released its quarterly earnings results on Monday, November 4th. The energy company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). The company had revenue of $167.40 million for the quarter, compared to analyst estimates of $156.41 million. Ramaco Resources had a return on equity of 10.17% and a net margin of 5.35%. The firm’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.45 EPS. As a group, equities analysts anticipate that Ramaco Resources, Inc. will post 0.86 EPS for the current year.

Institutional Trading of Ramaco Resources

Several institutional investors and hedge funds have recently bought and sold shares of METC. Wellington Management Group LLP bought a new position in shares of Ramaco Resources in the 3rd quarter worth about $22,127,000. Vanguard Group Inc. increased its position in 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 buying an additional 130,593 shares during the period. Dimensional Fund Advisors LP lifted its stake in 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 valued at $17,186,000 after buying an additional 245,924 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of 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 acquiring an additional 90,014 shares during the period. Finally, Millennium Management LLC grew its position in shares of Ramaco Resources by 22.4% during the second quarter. Millennium Management LLC now owns 435,007 shares of the energy company’s stock worth $5,416,000 after acquiring an additional 79,687 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.