Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report) saw an uptick in 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.
Analysts Set New Price Targets
A number of research analysts recently issued reports on METC shares. Benchmark dropped their price target on Ramaco Resources from $18.00 to $14.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Wall Street Zen downgraded Ramaco Resources from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, B. Riley lowered their target price on Ramaco Resources from $18.00 to $14.00 and set a "buy" rating for the company in a research note on Friday, April 11th.
Check Out Our Latest Stock Analysis on METC
Ramaco Resources Trading Down 1.9%
The company has a current ratio of 1.32, a quick ratio of 0.87 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $892.43 million, a price-to-earnings ratio of -203.08 and a beta of 1.30. The firm has a 50-day moving average price of $10.43 and a 200-day moving average price of $9.73.
Ramaco Resources (NASDAQ:METC - Get Free Report) last issued its earnings results on Monday, May 12th. The energy company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.29) by $0.10. The business had revenue of $115.61 million for the quarter, compared to analysts' expectations of $137.10 million. Ramaco Resources had a negative return on equity of 0.08% and a negative net margin of 0.05%. The company's quarterly revenue was down 22.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.23 EPS. As a group, sell-side analysts predict that Ramaco Resources, Inc. will post 0.05 EPS for the current year.
Ramaco Resources Cuts Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were issued a $0.0688 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend was Friday, May 30th. Ramaco Resources's payout ratio is -350.00%.
Institutional Trading of Ramaco Resources
Several hedge funds and other institutional investors have recently modified their holdings of the business. Encompass Capital Advisors LLC acquired a new stake in Ramaco Resources during the first quarter valued at $13,248,000. CenterBook Partners LP increased its stake in Ramaco Resources by 151.0% during the first quarter. CenterBook Partners LP now owns 1,678,594 shares of the energy company's stock valued at $13,815,000 after acquiring an additional 1,009,782 shares during the period. Discovery Capital Management LLC CT bought a new position in Ramaco Resources during the fourth quarter valued at about $9,289,000. Graham Capital Management L.P. bought a new position in Ramaco Resources during the fourth quarter valued at about $3,588,000. Finally, Point72 Asset Management L.P. boosted its holdings in Ramaco Resources by 98.9% during the fourth quarter. Point72 Asset Management L.P. now owns 696,531 shares of the energy company's stock valued at $7,146,000 after purchasing an additional 346,265 shares in the last quarter. Institutional investors and hedge funds own 74.49% of the company's stock.
Ramaco Resources Company Profile
(
Get Free Report)
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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