Ramaco Resources (NASDAQ:METC) Sees Unusually-High Trading Volume - Here's What Happened

Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report) shares saw an uptick in trading volume on Monday . 1,627,239 shares were traded during trading, an increase of 86% from the previous session's volume of 876,689 shares.The stock last traded at $21.94 and had previously closed at $22.42.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Wall Street Zen lowered Ramaco Resources from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Benchmark lowered their price objective on Ramaco Resources from $18.00 to $14.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Jefferies Financial Group reissued a "buy" rating and issued a $27.00 price objective (up from $15.00) on shares of Ramaco Resources in a research report on Wednesday, July 16th. Finally, B. Riley decreased their target price on Ramaco Resources from $18.00 to $14.00 and set a "buy" rating for the company in a research report on Friday, April 11th.

Ramaco Resources Price Performance

The business has a 50 day moving average price of $11.76 and a two-hundred day moving average price of $10.16. The stock has a market cap of $1.14 billion, a PE ratio of -260.88 and a beta of 1.30. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.87 and a current ratio of 1.32.

Ramaco Resources (NASDAQ:METC - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The energy company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.10. The business had revenue of $115.61 million for the quarter, compared to the consensus estimate 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 business earned $0.23 earnings per share. Research analysts expect that Ramaco Resources, Inc. will post 0.05 earnings per share for the current fiscal year.

Ramaco Resources Cuts Dividend

The company also recently declared 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 yield of 1.32%. Ramaco Resources's payout ratio is -350.00%.

Institutional Trading of Ramaco Resources

A number of institutional investors have recently modified their holdings of METC. Dimensional Fund Advisors LP grew its position in Ramaco Resources by 8.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,745,409 shares of the energy company's stock worth $17,907,000 after purchasing an additional 142,423 shares during the period. CenterBook Partners LP grew its position in Ramaco Resources by 151.0% in the 1st quarter. CenterBook Partners LP now owns 1,678,594 shares of the energy company's stock worth $13,815,000 after purchasing an additional 1,009,782 shares during the period. Encompass Capital Advisors LLC bought a new stake in Ramaco Resources in the 1st quarter worth approximately $13,248,000. American Century Companies Inc. grew its position in shares of Ramaco Resources by 8.9% during the 1st quarter. American Century Companies Inc. now owns 948,328 shares of the energy company's stock valued at $7,805,000 after acquiring an additional 77,371 shares during the period. Finally, Discovery Capital Management LLC CT bought a new stake in shares of Ramaco Resources during the 4th quarter valued at $9,289,000. 74.49% of the stock is currently owned by hedge funds and other institutional investors.

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.

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