Ramaco Resources (NASDAQ:METC) Shares Gap Up - Time to Buy?

Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report)'s stock price gapped up prior to trading on Monday . The stock had previously closed at $16.62, but opened at $18.05. Ramaco Resources shares last traded at $18.71, with a volume of 1,988,849 shares changing hands.

Wall Street Analyst Weigh In

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

Ramaco Resources Stock Performance

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 stock has a market cap of $1.05 billion, a price-to-earnings ratio of -239.00 and a beta of 1.30. The stock's 50-day simple moving average is $10.56 and its 200-day simple moving average is $9.77.

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 for the quarter, beating analysts' consensus estimates of ($0.29) by $0.10. The firm had revenue of $115.61 million for the quarter, compared to analyst estimates of $137.10 million. Ramaco Resources had a negative net margin of 0.05% and a negative return on equity of 0.08%. The company's quarterly revenue was down 22.0% on a year-over-year basis. During the same quarter last year, the business posted $0.23 earnings per share. Analysts forecast that Ramaco Resources, Inc. will post 0.05 earnings per share for the current fiscal year.

Ramaco Resources Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a $0.0688 dividend. This represents a $0.28 annualized dividend and a yield of 1.44%. The ex-dividend date was Friday, May 30th. Ramaco Resources's dividend payout ratio (DPR) is currently -350.00%.

Institutional Investors Weigh In On Ramaco Resources

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cetera Investment Advisers raised its position in shares of Ramaco Resources by 27.3% in the fourth quarter. Cetera Investment Advisers now owns 12,872 shares of the energy company's stock valued at $132,000 after purchasing an additional 2,760 shares during the period. Exchange Traded Concepts LLC increased its holdings in shares of Ramaco Resources by 59.4% in the 1st quarter. Exchange Traded Concepts LLC now owns 69,763 shares of the energy company's stock worth $574,000 after buying an additional 25,992 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Ramaco Resources by 3.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 41,656 shares of the energy company's stock worth $427,000 after buying an additional 1,425 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Ramaco Resources in the 4th quarter valued at $224,000. Finally, MetLife Investment Management LLC boosted its stake in shares of Ramaco Resources by 13.9% in the 4th quarter. MetLife Investment Management LLC now owns 16,189 shares of the energy company's stock valued at $166,000 after purchasing an additional 1,970 shares in the last quarter. 74.49% of the stock is owned by institutional investors.

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.