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

Key Points

• Ramaco Resources experienced an increase in trading volume with approximately 3.38 million shares changing hands, a 163% rise from the previous session.
• Analysts have shown mixed sentiments towards Ramaco Resources, with Benchmark and Jefferies issuing buy ratings and raising their price targets, while B. Riley and Wall Street Zen adjusted their outlooks downward.
• The company reported a quarterly loss with an EPS of ($0.29) which missed expectations, yet its revenue of $152.96 million exceeded analysts’ forecasts of $131.55 million.

Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report) shares saw unusually-strong trading volume on Wednesday . Approximately 3,382,472 shares changed hands during trading, an increase of 163% from the previous session's volume of 1,285,055 shares.The stock last traded at $19.41 and had previously closed at $23.14.

Wall Street Analyst Weigh In

Several analysts recently commented on METC shares. Jefferies Financial Group reiterated a "buy" rating and issued a $27.00 price objective (up previously from $15.00) on shares of Ramaco Resources in a research note on Wednesday, July 16th. Benchmark reissued a "buy" rating and set a $24.00 price target (up previously from $14.00) on shares of Ramaco Resources in a research note on Tuesday, August 5th. Finally, Wall Street Zen downgraded Ramaco Resources from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd.

Ramaco Resources Stock Up 4.1%

The stock has a fifty day moving average of $15.44 and a two-hundred day moving average of $11.40. The company has a quick ratio of 0.84, a current ratio of 1.36 and a debt-to-equity ratio of 0.36. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of -50.11 and a beta of 1.35.

Ramaco Resources (NASDAQ:METC - Get Free Report) last announced its earnings results on Thursday, July 31st. The energy company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.07). Ramaco Resources had a negative net margin of 3.17% and a negative return on equity of 5.55%. The company had revenue of $152.96 million for the quarter, compared to analysts' expectations of $131.55 million. During the same quarter in the previous year, the business posted $0.08 earnings per share. The business's quarterly revenue was down 1.5% compared to the same quarter last year. As a group, analysts predict that Ramaco Resources, Inc. will post 0.05 EPS for the current fiscal year.

Ramaco Resources Cuts Dividend

The firm also recently disclosed 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 annualized dividend and a dividend yield of 1.2%. Ramaco Resources's payout ratio is currently -62.22%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Brooklyn Investment Group purchased a new stake in Ramaco Resources in the 1st quarter worth approximately $25,000. Farther Finance Advisors LLC boosted its position in shares of Ramaco Resources by 384.0% in the second quarter. Farther Finance Advisors LLC now owns 3,920 shares of the energy company's stock valued at $52,000 after acquiring an additional 3,110 shares during the period. State of Wyoming acquired a new position in Ramaco Resources during the 1st quarter valued at $50,000. AlphaQuest LLC boosted its holdings in Ramaco Resources by 30.6% in the 1st quarter. AlphaQuest LLC now owns 6,332 shares of the energy company's stock valued at $52,000 after purchasing an additional 1,482 shares during the period. Finally, BNP Paribas Financial Markets acquired a new stake in Ramaco Resources in the 4th quarter worth $80,000. 74.49% of the stock is owned by institutional investors and hedge funds.

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.