B. Riley Analysts Reduce Earnings Estimates for Ramaco Resources, Inc. (NASDAQ:METC)

Ramaco Resources, Inc. (NASDAQ:METC - Free Report) - Analysts at B. Riley dropped their Q2 2024 earnings per share estimates for Ramaco Resources in a report released on Monday, April 15th. B. Riley analyst L. Pipes now anticipates that the energy company will post earnings per share of $0.04 for the quarter, down from their prior estimate of $0.43. B. Riley currently has a "Buy" rating and a $24.00 target price on the stock. The consensus estimate for Ramaco Resources' current full-year earnings is $2.37 per share. B. Riley also issued estimates for Ramaco Resources' Q3 2024 earnings at $0.58 EPS, Q4 2024 earnings at $0.66 EPS and FY2024 earnings at $1.50 EPS.

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

Ramaco Resources Price Performance

NASDAQ:METC traded down $0.69 during mid-day trading on Thursday, hitting $15.65. 582,429 shares of the stock traded hands, compared to its average volume of 950,787. Ramaco Resources has a 12-month low of $7.26 and a 12-month high of $22.70. The company has a market cap of $692.67 million, a PE ratio of 8.99 and a beta of 1.15. 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 business's 50-day moving average price is $17.24 and its 200 day moving average price is $16.35.

Ramaco Resources (NASDAQ:METC - Get Free Report) last released its quarterly earnings data on Thursday, March 7th. The energy company reported $0.60 earnings per share 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 business had revenue of $202.73 million during the quarter, compared to the consensus estimate of $182.60 million.

Ramaco Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given 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 dividend on an annualized basis and a dividend yield of 3.53%. Ramaco Resources's dividend payout ratio (DPR) is 31.61%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in METC. Harbour Capital Advisors LLC boosted its holdings 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 during the period. Nuveen Asset Management LLC boosted its position in Ramaco Resources by 1.3% during the fourth quarter. Nuveen Asset Management LLC now owns 63,167 shares of the energy company's stock worth $1,085,000 after purchasing an additional 797 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position 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 acquiring an additional 947 shares in the last quarter. LPL Financial LLC increased its stake in Ramaco Resources by 5.1% in the third quarter. LPL Financial LLC now owns 22,519 shares of the energy company's stock valued at $247,000 after purchasing an additional 1,095 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Ramaco Resources by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 61,187 shares of the energy company's stock worth $538,000 after acquiring an additional 1,407 shares during the last quarter. 74.49% of the stock is owned by institutional investors and hedge funds.

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.