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

Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report) shares saw strong trading volume on Friday . 592,454 shares traded hands during trading, a decline of 19% from the previous session's volume of 728,205 shares.The stock last traded at $15.74 and had previously closed at $16.63.

Analyst Upgrades and Downgrades

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

Ramaco Resources Trading Up 15.0%

The company has a market capitalization of $1.05 billion, a PE ratio of -239.00 and a beta of 1.30. The company has a fifty day simple moving average of $10.56 and a 200-day simple moving average of $9.77. 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 data 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 net margin of 0.05% and a negative return on equity of 0.08%. The firm had revenue of $115.61 million during the quarter, compared to analyst estimates of $137.10 million. During the same quarter in the prior year, the firm posted $0.23 earnings per share. Ramaco Resources's quarterly revenue was down 22.0% on a year-over-year basis. Analysts predict that Ramaco Resources, Inc. will post 0.05 EPS for the current year.

Ramaco Resources Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were issued a dividend of $0.0688 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.44%. Ramaco Resources's dividend payout ratio is currently -350.00%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Brooklyn Investment Group acquired a new stake in Ramaco Resources during the first quarter worth $25,000. AlphaQuest LLC acquired a new stake in shares of Ramaco Resources during the 4th quarter worth about $50,000. State of Wyoming acquired a new stake in shares of Ramaco Resources during the 1st quarter worth about $50,000. Farther Finance Advisors LLC raised 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 buying an additional 3,110 shares during the period. Finally, Jones Financial Companies Lllp acquired a new position in Ramaco Resources in the fourth quarter valued at about $56,000. 74.49% of the stock is currently 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.