Ramaco Resources (NASDAQ:METC) Shares Gap Up - Still a Buy?

Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $13.14, but opened at $14.28. Ramaco Resources shares last traded at $12.05, with a volume of 1,033,132 shares traded.

Analyst Upgrades and Downgrades

Several 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 report on Tuesday, May 13th. Wall Street Zen cut shares of Ramaco Resources from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Finally, B. Riley reduced 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.

Ramaco Resources Trading Down 13.8%

The firm has a market cap of $619.37 million, a PE ratio of -141.44 and a beta of 1.18. 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 business has a 50-day moving average price of $10.00 and a two-hundred day moving average price of $9.61.

Ramaco Resources (NASDAQ:METC - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The energy company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.10. The firm 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 company's quarterly revenue was down 22.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.23 EPS. Analysts forecast that Ramaco Resources, Inc. will post 0.05 EPS for the current year.

Ramaco Resources Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a $0.0688 dividend. The ex-dividend date was Friday, May 30th. This represents a $0.28 annualized dividend and a yield of 2.43%. Ramaco Resources's payout ratio is currently -350.00%.

Hedge Funds Weigh In On Ramaco Resources

Several large investors have recently added to or reduced their stakes in METC. Empowered Funds LLC increased its position in Ramaco Resources by 1.8% during the first quarter. Empowered Funds LLC now owns 123,110 shares of the energy company's stock worth $1,013,000 after purchasing an additional 2,223 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Ramaco Resources by 27.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 274,545 shares of the energy company's stock valued at $2,260,000 after buying an additional 58,304 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Ramaco Resources during the 1st quarter worth $555,000. Encompass Capital Advisors LLC purchased a new position in shares of Ramaco Resources in the 1st quarter worth $13,248,000. Finally, PDT Partners LLC raised its position in shares of Ramaco Resources by 13.4% in the 1st quarter. PDT Partners LLC now owns 83,962 shares of the energy company's stock worth $691,000 after buying an additional 9,952 shares during the period. 74.49% of the stock is currently owned by hedge funds and other 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.

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