Ramaco Resources (NASDAQ:METC) Reaches New 52-Week High - Still a Buy?

Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report) shares reached 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 trading hands. The stock had previously closed at $19.12.

Wall Street Analyst Weigh In

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

Ramaco Resources Stock Down 1.1%

The company has a debt-to-equity ratio of 0.33, a current ratio of 1.32 and a quick ratio of 0.87. The company has a market capitalization of $1.23 billion, a PE ratio of -280.25 and a beta of 1.30. The business has a 50-day moving average of $11.76 and a 200 day moving average of $10.17.

Ramaco Resources (NASDAQ:METC - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The energy company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.29) by $0.10. Ramaco Resources had a negative return on equity of 0.08% and a negative net margin of 0.05%. The business had revenue of $115.61 million for the quarter, compared to the consensus estimate of $137.10 million. During the same period in the prior year, the business posted $0.23 earnings per share. The company's quarterly revenue was down 22.0% compared to the same quarter last year. Equities research analysts predict that Ramaco Resources, Inc. will post 0.05 earnings per share for the current year.

Ramaco Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were paid a dividend of $0.0688 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.23%. Ramaco Resources's dividend payout ratio is -337.50%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Brooklyn Investment Group purchased a new stake in shares of Ramaco Resources during the 1st quarter valued at $25,000. AlphaQuest LLC purchased a new position in Ramaco Resources in the 4th quarter worth $50,000. State of Wyoming purchased a new position in Ramaco Resources in the 1st quarter worth $50,000. Farther Finance Advisors LLC raised its stake in Ramaco Resources by 384.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 3,920 shares of the energy company's stock worth $52,000 after acquiring an additional 3,110 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in Ramaco Resources in the 1st quarter worth $73,000. Institutional investors own 74.49% of the company's stock.

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.