Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report) shares 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 traded.
Analysts Set New Price Targets
Several research analysts have recently commented on the company. Benchmark reduced their price target 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. B. Riley lowered their price target on Ramaco Resources from $18.00 to $14.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Jefferies Financial Group reissued a "buy" rating and set a $27.00 target price (up previously from $15.00) on shares of Ramaco Resources in a report on Wednesday. Finally, Wall Street Zen cut Ramaco Resources from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd.
Read Our Latest Research Report on Ramaco Resources
Ramaco Resources Stock Performance
The company has a debt-to-equity ratio of 0.33, a current ratio of 1.32 and a quick ratio of 0.87. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of -281.09 and a beta of 1.30. The stock has a 50 day simple moving average of $11.22 and a two-hundred day simple moving average of $10.00.
Ramaco Resources (NASDAQ:METC - Get Free Report) last posted its earnings results on Monday, May 12th. The energy company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.10. The business had revenue of $115.61 million during 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%. The business's quarterly revenue was down 22.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.23 EPS. As a group, analysts anticipate that Ramaco Resources, Inc. will post 0.05 earnings per share 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 paid a dividend of $0.0688 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.22%. The ex-dividend date was Friday, May 30th. Ramaco Resources's dividend payout ratio (DPR) is -350.00%.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in the business. Farther Finance Advisors LLC increased 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 purchasing an additional 3,110 shares in the last quarter. Empowered Funds LLC grew its stake in shares of Ramaco Resources by 1.8% during the first quarter. Empowered Funds LLC now owns 123,110 shares of the energy company's stock valued at $1,013,000 after acquiring an additional 2,223 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Ramaco Resources by 27.0% during the first quarter. Goldman Sachs Group Inc. now owns 274,545 shares of the energy company's stock worth $2,260,000 after purchasing an additional 58,304 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Ramaco Resources during the first quarter worth about $555,000. Finally, Encompass Capital Advisors LLC bought a new position in shares of Ramaco Resources during the first quarter worth about $13,248,000. Hedge funds and other institutional investors 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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