Ramaco Resources (NASDAQ:METC) Shares Up 3.6%

Ramaco Resources, Inc. (NASDAQ:METC)’s stock price shot up 3.6% during trading on Wednesday . The stock traded as high as $16.92 and last traded at $16.75. 208,102 shares were traded during mid-day trading, a decline of 78% from the average session volume of 950,261 shares. The stock had previously closed at $16.17.

Analyst Upgrades and Downgrades

Several research firms have commented on METC. 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 price target 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. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $17.90.

Ramaco Resources Stock Performance

The stock has a market cap of $739.58 million, a price-to-earnings ratio of 9.30 and a beta of 1.15. 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 firm’s 50-day moving average is $17.26 and its two-hundred day moving average is $16.35.

Ramaco Resources (NASDAQ:METC) last posted its quarterly earnings results on Thursday, March 7th. The energy company reported $0.60 earnings per share 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 analysts’ expectations of $182.60 million. Ramaco Resources had a net margin of 11.87% and a return on equity of 24.28%. As a group, sell-side analysts expect that Ramaco Resources, Inc. will post 2.37 earnings per share for the current year.

Ramaco Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a dividend of $0.138 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.55 dividend on an annualized basis and a dividend yield of 3.30%. This is a boost from Ramaco Resources’s previous quarterly dividend of $0.13. Ramaco Resources’s dividend payout ratio (DPR) is presently 31.61%.

Institutional Investors Weigh In On Ramaco Resources

A number of hedge funds have recently added to or reduced their stakes in METC. Archer Investment Corp acquired a new stake in shares of Ramaco Resources in the 4th quarter valued at $26,000. Global Retirement Partners LLC acquired a new stake in Ramaco Resources during the 4th quarter worth $36,000. Point72 Middle East FZE acquired a new stake in Ramaco Resources during the 4th quarter worth $44,000. Barclays PLC raised its stake in Ramaco Resources by 532.9% during the 4th quarter. Barclays PLC now owns 6,019 shares of the energy company’s stock worth $53,000 after acquiring an additional 5,068 shares in the last quarter. Finally, Ensign Peak Advisors Inc acquired a new stake in Ramaco Resources during the 3rd quarter worth $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.