Ramaco Resources (NASDAQ:METC) Shares Gap Up – Here’s What Happened

Ramaco Resources, Inc. (NASDAQ:METC) shares gapped up before the market opened on Tuesday . The stock had previously closed at $12.18, but opened at $12.51. Ramaco Resources shares last traded at $13.28, with a volume of 103,194 shares trading hands.

Analyst Ratings Changes

METC has been the subject of several research reports. Benchmark reissued a “buy” rating and set a $20.00 price objective on shares of Ramaco Resources in a report on Thursday, August 29th. B. Riley dropped their price target on Ramaco Resources from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th.

Ramaco Resources Trading Up 3.7 %

The company has a market cap of $663.45 million, a PE ratio of 18.74 and a beta of 1.14. The stock’s 50 day moving average is $11.47 and its 200-day moving average is $12.26. The company has a quick ratio of 0.86, a current ratio of 1.35 and a debt-to-equity ratio of 0.23.

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

Ramaco Resources Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 dividend yield of 4.35%. The ex-dividend date is Monday, December 2nd. Ramaco Resources’s dividend payout ratio is currently 84.62%.

Institutional Trading of Ramaco Resources

A number of institutional investors have recently bought and sold shares of METC. Innealta Capital LLC purchased a new stake in shares of Ramaco Resources in the second quarter valued at $28,000. Pingora Partners LLC raised its position in Ramaco Resources by 330.2% in the 3rd quarter. Pingora Partners LLC now owns 3,700 shares of the energy company’s stock worth $43,000 after purchasing an additional 2,840 shares during the period. Point72 DIFC Ltd bought a new stake in shares of Ramaco Resources during the 3rd quarter worth approximately $45,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Ramaco Resources during the 2nd quarter valued at $94,000. Finally, Koss Olinger Consulting LLC purchased a new position in Ramaco Resources during the 2nd quarter valued at $134,000. 74.49% of the stock is currently owned by 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.