B. Riley Trims Ramaco Resources (NASDAQ:METC) Target Price to $24.00

Ramaco Resources (NASDAQ:METC) had its target price lowered by B. Riley from $25.00 to $24.00 in a research note released on Monday, Benzinga reports. The brokerage currently has a buy rating on the energy company’s stock. B. Riley also issued estimates for Ramaco Resources’ Q1 2024 earnings at $0.22 EPS, Q2 2024 earnings at $0.04 EPS, Q3 2024 earnings at $0.58 EPS, Q4 2024 earnings at $0.66 EPS and FY2024 earnings at $1.50 EPS.

Separately, UBS Group assumed coverage on shares of Ramaco Resources in a report on Tuesday, January 16th. They issued a neutral rating and a $21.00 target price for the company. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $17.90.

Ramaco Resources Trading Down 4.2 %

NASDAQ METC opened at $15.65 on Monday. Ramaco Resources has a 52-week low of $7.26 and a 52-week high of $22.70. The company has a quick ratio of 0.90, a current ratio of 1.12 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $692.67 million, a P/E ratio of 8.99 and a beta of 1.15. The firm has a 50-day moving average price of $17.24 and a 200 day moving average price of $16.35.

Ramaco Resources (NASDAQ:METC) last issued its earnings results on Thursday, March 7th. The energy company reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.07). Ramaco Resources had a net margin of 11.87% and a return on equity of 24.28%. The company had revenue of $202.73 million during the quarter, compared to analysts’ expectations of $182.60 million. Equities research analysts expect that Ramaco Resources will post 2.37 EPS for the current year.

Ramaco Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a $0.138 dividend. The ex-dividend date was Thursday, February 29th. This is a positive change from Ramaco Resources’s previous quarterly dividend of $0.13. This represents a $0.55 annualized dividend and a dividend yield of 3.53%. Ramaco Resources’s dividend payout ratio is currently 31.61%.

Institutional Trading of Ramaco Resources

Large investors have recently modified their holdings of the business. Archer Investment Corp acquired a new stake in shares of Ramaco Resources in the fourth quarter valued at approximately $26,000. Global Retirement Partners LLC acquired a new stake in shares of Ramaco Resources in the fourth quarter valued at approximately $36,000. Point72 Middle East FZE acquired a new stake in shares of Ramaco Resources in the fourth quarter valued at approximately $44,000. Barclays PLC grew its position in shares of Ramaco Resources by 532.9% in the fourth quarter. Barclays PLC now owns 6,019 shares of the energy company’s stock valued at $53,000 after purchasing an additional 5,068 shares during the last quarter. Finally, Ensign Peak Advisors Inc acquired a new stake in shares of Ramaco Resources in the third quarter valued at approximately $55,000. 74.49% of the stock is currently owned by institutional investors and hedge funds.

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.