Ramaco Resources (NASDAQ:METC) Trading 4.7% Higher

Shares of Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report) shot up 4.7% during mid-day trading on Monday . The company traded as high as $14.04 and last traded at $13.92. 212,979 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 876,425 shares. The stock had previously closed at $13.30.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on METC. B. Riley lowered their price objective on Ramaco Resources from $24.00 to $22.00 and set a "buy" rating for the company in a research report on Friday, May 10th. Benchmark reduced their price objective on shares of Ramaco Resources from $24.00 to $20.00 and set a "buy" rating on the stock in a report on Friday, May 10th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Ramaco Resources presently has a consensus rating of "Moderate Buy" and a consensus price target of $17.50.

Ramaco Resources Stock Up 7.1 %

The firm's 50 day simple moving average is $15.71 and its 200-day simple moving average is $17.00. The company has a market cap of $630.71 million, a price-to-earnings ratio of 12.18 and a beta of 1.15. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.23 and a quick ratio of 0.95.

Ramaco Resources (NASDAQ:METC - Get Free Report) last released its quarterly 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 for the quarter, compared to analyst estimates of $182.60 million. Ramaco Resources had a return on equity of 17.19% and a net margin of 8.44%. As a group, sell-side analysts anticipate that Ramaco Resources, Inc. will post 1.31 earnings per share for the current year.

Ramaco Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 15th. Shareholders of record on Saturday, June 1st will be paid a $0.138 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.55 dividend on an annualized basis and a yield of 3.87%. Ramaco Resources's dividend payout ratio is presently 47.01%.

Institutional Trading of Ramaco Resources

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Ramaco Resources by 8.9% during the first quarter. Vanguard Group Inc. now owns 1,591,146 shares of the energy company's stock worth $26,795,000 after purchasing an additional 130,593 shares during the period. Wedge Capital Management L L P NC boosted its holdings in shares of Ramaco Resources by 5.5% in the fourth quarter. Wedge Capital Management L L P NC now owns 276,812 shares of the energy company's stock valued at $4,756,000 after acquiring an additional 14,480 shares in the last quarter. CenterBook Partners LP increased its stake in shares of Ramaco Resources by 1.3% during the third quarter. CenterBook Partners LP now owns 195,900 shares of the energy company's stock worth $2,153,000 after acquiring an additional 2,591 shares during the period. Tejara Capital Ltd increased its stake in shares of Ramaco Resources by 6.0% during the third quarter. Tejara Capital Ltd now owns 141,694 shares of the energy company's stock worth $1,584,000 after acquiring an additional 7,972 shares during the period. Finally, Arkfeld Wealth Strategies L.L.C. raised its holdings in Ramaco Resources by 226.1% during the first quarter. Arkfeld Wealth Strategies L.L.C. now owns 133,502 shares of the energy company's stock worth $2,111,000 after purchasing an additional 92,567 shares in 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.