Ramaco Resources (NASDAQ:METC) Sees Strong Trading Volume - What's Next?

Shares of Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report) saw strong trading volume on Wednesday . 841,718 shares traded hands during mid-day trading, an increase of 24% from the previous session's volume of 677,714 shares.The stock last traded at $11.78 and had previously closed at $9.98.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. 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. Wall Street Zen cut shares of Ramaco Resources from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Finally, Benchmark decreased 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.

Ramaco Resources Stock Down 1.1%

The company has a 50 day moving average of $10.06 and a 200-day moving average of $9.63. 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 cap of $649.56 million, a P/E ratio of -148.44 and a beta of 1.30.

Ramaco Resources (NASDAQ:METC - Get Free Report) last issued its quarterly 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 during the quarter, compared to the consensus estimate of $137.10 million. During the same quarter last year, the company posted $0.23 EPS. The company's revenue for the quarter was down 22.0% on a year-over-year basis. On average, equities analysts predict that Ramaco Resources, Inc. will post 0.05 earnings per share for the current year.

Ramaco Resources Cuts Dividend

The business 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 annualized dividend and a yield of 2.32%. Ramaco Resources's payout ratio is presently -350.00%.

Hedge Funds Weigh In On Ramaco Resources

Institutional investors have recently made changes to their positions in the stock. Brooklyn Investment Group bought a new stake in shares of Ramaco Resources during the 1st quarter worth $25,000. AlphaQuest LLC bought a new position in Ramaco Resources in the fourth quarter valued at $50,000. State of Wyoming purchased a new stake in Ramaco Resources during the first quarter valued at about $50,000. Campbell Capital Management Inc. bought a new stake in Ramaco Resources during the fourth quarter worth about $51,000. Finally, Jones Financial Companies Lllp bought a new stake in Ramaco Resources during the fourth quarter worth about $56,000. 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.