Ramaco Resources (NASDAQ:METC) Reaches New 1-Year High - Time to Buy?

Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report)'s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $22.75 and last traded at $21.94, with a volume of 8021803 shares. The stock had previously closed at $19.12.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. B. Riley reduced their target price on shares of Ramaco Resources from $18.00 to $14.00 and set a "buy" rating for the company in a report on Friday, April 11th. Wall Street Zen lowered Ramaco Resources from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Jefferies Financial Group restated a "buy" rating and set a $27.00 price target (up previously from $15.00) on shares of Ramaco Resources in a research note on Wednesday. Finally, Benchmark dropped their price target on Ramaco Resources from $18.00 to $14.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th.

Ramaco Resources Price Performance

The firm has a market cap of $1.25 billion, a PE ratio of -286.13 and a beta of 1.30. The company has a quick ratio of 0.87, a current ratio of 1.32 and a debt-to-equity ratio of 0.33. The stock has a 50 day moving average price of $11.49 and a two-hundred day moving average price of $10.08.

Ramaco Resources (NASDAQ:METC - Get Free Report) last issued its earnings results on Monday, May 12th. The energy company reported ($0.19) EPS for the quarter, beating analysts' consensus estimates of ($0.29) by $0.10. The firm had revenue of $115.61 million for the quarter, compared to analyst estimates of $137.10 million. Ramaco Resources had a negative return on equity of 0.08% and a negative net margin of 0.05%. Ramaco Resources's revenue for the quarter was down 22.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.23 earnings per share. As a group, equities analysts expect that Ramaco Resources, Inc. will post 0.05 earnings per share for the current year.

Ramaco Resources Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were given a $0.0688 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.28 dividend on an annualized basis and a yield of 1.20%. Ramaco Resources's dividend payout ratio is currently -350.00%.

Institutional Investors Weigh In On Ramaco Resources

A number of large investors have recently bought and sold shares of METC. Brooklyn Investment Group purchased a new stake in Ramaco Resources in the first quarter valued at approximately $25,000. AlphaQuest LLC purchased a new stake in Ramaco Resources in the fourth quarter valued at approximately $50,000. State of Wyoming purchased a new stake in Ramaco Resources in the first quarter valued at approximately $50,000. Farther Finance Advisors LLC boosted its position in Ramaco Resources by 384.0% in the second quarter. Farther Finance Advisors LLC now owns 3,920 shares of the energy company's stock valued at $52,000 after buying an additional 3,110 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in Ramaco Resources in the first quarter valued at approximately $73,000. Hedge funds and other institutional investors own 74.49% of the company's stock.

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.