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

Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report)'s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $16.43 and last traded at $15.80, with a volume of 525974 shares traded. The stock had previously closed at $12.70.

Wall Street Analyst Weigh In

Several equities research analysts have commented on METC shares. B. Riley lowered their price objective on Ramaco Resources from $18.00 to $14.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Wall Street Zen lowered Ramaco Resources from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, Benchmark lowered their price objective on Ramaco Resources from $18.00 to $14.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th.

Ramaco Resources Stock Down 0.1%

The stock has a market cap of $909.11 million, a PE ratio of -207.75 and a beta of 1.30. The company has a current ratio of 1.32, a quick ratio of 0.87 and a debt-to-equity ratio of 0.33. The business has a 50-day moving average price of $10.56 and a 200-day moving average price of $9.77.

Ramaco Resources (NASDAQ:METC - Get Free Report) last announced its earnings results 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 firm had revenue of $115.61 million for the quarter, compared to analyst estimates of $137.10 million. During the same quarter last year, the firm posted $0.23 EPS. The business's revenue was down 22.0% on a year-over-year basis. As a group, analysts forecast 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 given a dividend of $0.0688 per share. The ex-dividend date was Friday, May 30th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.65%. Ramaco Resources's dividend payout ratio (DPR) is -350.00%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Brooklyn Investment Group purchased a new position in Ramaco Resources in the 1st quarter valued at $25,000. AlphaQuest LLC purchased a new position in Ramaco Resources in the 4th quarter valued at $50,000. State of Wyoming purchased a new position in Ramaco Resources in the 1st quarter valued at $50,000. Campbell Capital Management Inc. purchased a new position in Ramaco Resources in the 4th quarter valued at $51,000. Finally, Farther Finance Advisors LLC lifted its holdings 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 valued at $52,000 after purchasing an additional 3,110 shares in the last quarter. 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.