Shares of Ramaco Resources, Inc. (NASDAQ:METC – Get Free Report) dropped 7.1% during trading on Monday . The company traded as low as $16.77 and last traded at $16.79. Approximately 566,647 shares were traded during mid-day trading, a decline of 52% from the average daily volume of 1,175,046 shares. The stock had previously closed at $18.07.
Wall Street Analyst Weigh In
Several analysts recently weighed in on the company. UBS Group assumed coverage on Ramaco Resources in a report on Tuesday, January 16th. They set a “neutral” rating and a $21.00 price target for the company. BMO Capital Markets lifted their price target on Ramaco Resources from $10.00 to $12.00 and gave the stock a “market perform” rating in a report on Thursday, November 9th. Finally, Benchmark raised their price objective on Ramaco Resources from $15.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, December 7th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Ramaco Resources currently has an average rating of “Moderate Buy” and an average target price of $16.10.
Ramaco Resources Trading Down 5.7 %
The company has a quick ratio of 0.83, a current ratio of 1.19 and a debt-to-equity ratio of 0.21. The firm has a 50 day moving average of $18.09 and a 200 day moving average of $13.20. The firm has a market cap of $897.84 million, a PE ratio of 11.54 and a beta of 1.18.
Ramaco Resources (NASDAQ:METC – Get Free Report) last issued its quarterly earnings data on Tuesday, November 7th. The energy company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. The company had revenue of $187.00 million for the quarter, compared to the consensus estimate of $159.63 million. Ramaco Resources had a return on equity of 20.69% and a net margin of 10.65%. The firm’s revenue was up 36.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.67 earnings per share. Equities analysts anticipate that Ramaco Resources, Inc. will post 1.98 earnings per share for the current year.
Ramaco Resources Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Friday, March 1st will be paid a dividend of $0.138 per share. This is a boost from Ramaco Resources’s previous quarterly dividend of $0.13. This represents a $0.55 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date is Thursday, February 29th. Ramaco Resources’s dividend payout ratio (DPR) is 34.25%.
Insider Activity
In other news, Director Bryan H. Lawrence sold 316,623 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $17.73, for a total transaction of $5,613,725.79. Following the transaction, the director now directly owns 730,408 shares of the company’s stock, valued at $12,950,133.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Bryan H. Lawrence sold 316,623 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $17.73, for a total value of $5,613,725.79. Following the sale, the director now directly owns 730,408 shares of the company’s stock, valued at $12,950,133.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Yorktown Xi Associates Llc sold 93,574 shares of the firm’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $16.22, for a total value of $1,517,770.28. Following the completion of the sale, the insider now directly owns 1,090,529 shares in the company, valued at $17,688,380.38. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,626,787 shares of company stock valued at $27,908,729. 45.98% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Ramaco Resources
Large investors have recently made changes to their positions in the business. Archer Investment Corp purchased a new position in shares of Ramaco Resources during the fourth quarter valued at approximately $26,000. Global Retirement Partners LLC purchased a new position in shares of Ramaco Resources during the fourth quarter valued at approximately $36,000. Point72 Middle East FZE purchased a new position in shares of Ramaco Resources during the fourth quarter valued at approximately $44,000. Bank of America Corp DE lifted its holdings in shares of Ramaco Resources by 523.1% during the first quarter. Bank of America Corp DE now owns 5,944 shares of the energy company’s stock valued at $94,000 after purchasing an additional 4,990 shares during the last quarter. Finally, Ensign Peak Advisors Inc purchased a new position in shares of Ramaco Resources during the third quarter valued at approximately $55,000. 49.68% of the stock is currently owned by hedge funds and other institutional investors.
About Ramaco Resources
Ramaco Resources, Inc operates, develops, and sells metallurgical coal. Its development portfolio includes the Elk Creek project located in southern West Virginia; the Berwind property situated on the border of West Virginia and Virginia; the Knox Creek property is located in Virginia; and the RAM Mine property situated in southwestern Pennsylvania.