Ramaco Resources (NASDAQ:METC) Stock Price Down 3.2%

Ramaco Resources, Inc. (NASDAQ:METC)’s stock price was down 3.2% during mid-day trading on Tuesday . The stock traded as low as $16.11 and last traded at $16.29. Approximately 116,320 shares were traded during trading, a decline of 89% from the average daily volume of 1,036,683 shares. The stock had previously closed at $16.83.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on METC shares. UBS Group started coverage on Ramaco Resources in a research note on Tuesday, January 16th. They set a “neutral” rating and a $21.00 price target for the company. Benchmark lifted their price target on Ramaco Resources from $15.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, December 7th. Finally, B. Riley reaffirmed a “buy” rating and set a $32.00 price target on shares of Ramaco Resources in a research note on Tuesday, February 13th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $19.50.

Ramaco Resources Stock Up 0.9 %

The firm’s 50 day moving average is $17.97 and its two-hundred day moving average is $15.62. The company has a current ratio of 1.12, a quick ratio of 0.90 and a debt-to-equity ratio of 0.10. The stock has a market cap of $732.50 million, a price-to-earnings ratio of 9.51 and a beta of 1.16.

Ramaco Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a dividend of $0.138 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.55 dividend on an annualized basis and a dividend yield of 3.34%. This is an increase from Ramaco Resources’s previous quarterly dividend of $0.13. Ramaco Resources’s dividend payout ratio is currently 31.61%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of METC. Point72 Asset Management L.P. acquired a new position in shares of Ramaco Resources during the 4th quarter valued at about $15,488,000. JPMorgan Chase & Co. grew its holdings in shares of Ramaco Resources by 533.0% during the 1st quarter. JPMorgan Chase & Co. now owns 959,504 shares of the energy company’s stock worth $15,160,000 after purchasing an additional 807,921 shares during the period. Prudential Financial Inc. purchased a new stake in shares of Ramaco Resources during the 1st quarter worth about $5,862,000. State Street Corp grew its holdings in shares of Ramaco Resources by 877.5% during the 2nd quarter. State Street Corp now owns 353,203 shares of the energy company’s stock worth $4,645,000 after purchasing an additional 317,069 shares during the period. Finally, Comerica Bank purchased a new stake in shares of Ramaco Resources during the 2nd quarter worth about $2,662,000. Institutional investors and hedge funds own 74.49% of the company’s stock.

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.