Ramaco Resources, Inc. (NASDAQ:METC - Free Report) - Stock analysts at B. Riley decreased their Q1 2024 earnings per share (EPS) estimates for shares of Ramaco Resources in a note issued to investors on Monday, April 15th. B. Riley analyst L. Pipes now forecasts that the energy company will post earnings per share of $0.22 for the quarter, down from their prior forecast of $0.32. B. Riley has a "Buy" rating and a $24.00 price objective on the stock. The consensus estimate for Ramaco Resources' current full-year earnings is $2.37 per share.
Ramaco Resources (NASDAQ:METC - Get Free Report) last announced its quarterly earnings results on Thursday, March 7th. The energy company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.07). Ramaco Resources had a net margin of 11.87% and a return on equity of 24.28%. The firm had revenue of $202.73 million for the quarter, compared to analyst estimates of $182.60 million.
Separately, UBS Group started coverage on shares of Ramaco Resources in a research note on Tuesday, January 16th. They set a "neutral" rating and a $21.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $17.90.
View Our Latest Research Report on Ramaco Resources
Ramaco Resources Stock Performance
Shares of METC traded up $0.16 during midday trading on Wednesday, hitting $16.34. 570,701 shares of the stock traded hands, compared to its average volume of 955,765. Ramaco Resources has a 1-year low of $7.26 and a 1-year high of $22.70. The firm has a market capitalization of $723.21 million, a PE ratio of 9.39 and a beta of 1.15. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.90 and a current ratio of 1.12. The business's 50 day moving average price is $17.26 and its two-hundred day moving average price is $16.35.
Hedge Funds Weigh In On Ramaco Resources
Several institutional investors and hedge funds have recently bought and sold shares of the business. Harbour Capital Advisors LLC grew its stake in Ramaco Resources by 2.1% during the 4th quarter. Harbour Capital Advisors LLC now owns 27,460 shares of the energy company's stock valued at $514,000 after acquiring an additional 560 shares in the last quarter. Nuveen Asset Management LLC grew its stake in shares of Ramaco Resources by 1.3% in the 4th quarter. Nuveen Asset Management LLC now owns 63,167 shares of the energy company's stock valued at $1,085,000 after buying an additional 797 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Ramaco Resources by 14.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,589 shares of the energy company's stock valued at $130,000 after buying an additional 947 shares in the last quarter. LPL Financial LLC grew its stake in shares of Ramaco Resources by 5.1% in the 3rd quarter. LPL Financial LLC now owns 22,519 shares of the energy company's stock valued at $247,000 after buying an additional 1,095 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Ramaco Resources by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 61,187 shares of the energy company's stock valued at $538,000 after buying an additional 1,407 shares in the last quarter. Hedge funds and other institutional investors own 74.49% of the company's stock.
Ramaco Resources Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $0.138 dividend. The ex-dividend date was Thursday, February 29th. This is a boost from Ramaco Resources's previous quarterly dividend of $0.13. This represents a $0.55 annualized dividend and a yield of 3.38%. Ramaco Resources's payout ratio is 31.61%.
About Ramaco Resources
(
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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.
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