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

Shares of Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $16.43 and last traded at $15.80, with a volume of 525974 shares changing hands. The stock had previously closed at $12.70.

Analysts Set New Price Targets

METC has been the topic of a number of research analyst reports. Benchmark dropped their target price on shares of Ramaco Resources from $18.00 to $14.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Wall Street Zen lowered shares of Ramaco Resources from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Finally, B. Riley decreased their price target on shares of Ramaco Resources from $18.00 to $14.00 and set a "buy" rating on the stock in a research note on Friday, April 11th.

Ramaco Resources Stock Performance

The firm has a market cap of $917.59 million, a price-to-earnings ratio of -209.69 and a beta of 1.30. The stock's 50 day moving average is $10.43 and its 200 day moving average is $9.73. The company has a current ratio of 1.32, a quick ratio of 0.87 and a debt-to-equity ratio of 0.33.

Ramaco Resources (NASDAQ:METC - Get Free Report) last announced its quarterly 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. Ramaco Resources had a negative net margin of 0.05% and a negative return on equity of 0.08%. The business had revenue of $115.61 million for the quarter, compared to analyst estimates of $137.10 million. During the same quarter in the prior year, the business earned $0.23 EPS. Ramaco Resources's quarterly revenue was down 22.0% on a year-over-year basis. Analysts anticipate 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. Shareholders 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 1.64%. Ramaco Resources's payout ratio is presently -350.00%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC grew its position in shares of Ramaco Resources by 384.0% during the 2nd quarter. Farther Finance Advisors LLC now owns 3,920 shares of the energy company's stock worth $52,000 after purchasing an additional 3,110 shares in the last quarter. Empowered Funds LLC boosted its position in shares of Ramaco Resources by 1.8% during the 1st quarter. Empowered Funds LLC now owns 123,110 shares of the energy company's stock worth $1,013,000 after acquiring an additional 2,223 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Ramaco Resources by 27.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 274,545 shares of the energy company's stock worth $2,260,000 after acquiring an additional 58,304 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Ramaco Resources during the 1st quarter worth approximately $555,000. Finally, Encompass Capital Advisors LLC acquired a new stake in shares of Ramaco Resources during the 1st quarter worth approximately $13,248,000. Institutional investors and hedge funds 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.