Ramaco Resources (NASDAQ:METC) Shares Gap Down to $15.96

Ramaco Resources, Inc. (NASDAQ:METC)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $15.96, but opened at $14.66. Ramaco Resources shares last traded at $13.87, with a volume of 289,614 shares.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. B. Riley decreased their price objective on shares of Ramaco Resources from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, April 15th. UBS Group began coverage on Ramaco Resources in a report on Tuesday, January 16th. They issued a “neutral” rating and a $21.00 price target for the company. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.90.

Ramaco Resources Stock Performance

The company has a fifty day moving average of $16.61 and a two-hundred day moving average of $16.89. The stock has a market capitalization of $582.50 million, a P/E ratio of 7.52 and a beta of 1.15. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.12 and a quick ratio of 0.90.

Ramaco Resources (NASDAQ:METC) last issued its earnings results on Thursday, March 7th. The energy company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.07). The firm had revenue of $202.73 million during the quarter, compared to analyst estimates of $182.60 million. Ramaco Resources had a return on equity of 24.28% and a net margin of 11.87%. On average, equities analysts anticipate that Ramaco Resources, Inc. will post 1.59 EPS for the current year.

Ramaco Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a dividend of $0.138 per share. This is a positive change from Ramaco Resources’s previous quarterly dividend of $0.13. The ex-dividend date was Thursday, February 29th. This represents a $0.55 annualized dividend and a yield of 4.19%. Ramaco Resources’s payout ratio is presently 31.61%.

Institutional Investors Weigh In On Ramaco Resources

Several institutional investors and hedge funds have recently bought and sold shares of METC. Harbour Capital Advisors LLC lifted its stake in Ramaco Resources by 2.1% in the fourth quarter. Harbour Capital Advisors LLC now owns 27,460 shares of the energy company’s stock valued at $514,000 after buying an additional 560 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Ramaco Resources by 14.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,589 shares of the energy company’s stock valued at $130,000 after purchasing an additional 947 shares during the period. Archer Investment Corp bought a new stake in shares of Ramaco Resources during the fourth quarter valued at approximately $26,000. Global Retirement Partners LLC acquired a new position in shares of Ramaco Resources during the fourth quarter worth approximately $36,000. Finally, SG Americas Securities LLC grew its holdings in Ramaco Resources by 12.9% in the 1st quarter. SG Americas Securities LLC now owns 21,545 shares of the energy company’s stock worth $363,000 after buying an additional 2,460 shares in 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.