Ramaco Resources (NASDAQ:METC) Shares Gap Up - Here's Why

Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report) shares gapped up prior to trading on Monday . The stock had previously closed at $9.87, but opened at $10.30. Ramaco Resources shares last traded at $9.71, with a volume of 188,430 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on METC. Benchmark reaffirmed a "buy" rating on shares of Ramaco Resources in a research report on Wednesday, March 12th. Jefferies Financial Group dropped their price objective on shares of Ramaco Resources from $19.00 to $13.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Finally, B. Riley cut 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 report on Friday, April 11th.

Ramaco Resources Stock Down 4.0 %

The firm has a market capitalization of $537.84 million, a price-to-earnings ratio of 15.32 and a beta of 1.14. The business has a 50 day moving average of $8.91 and a 200 day moving average of $10.16. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.35 and a quick ratio of 0.86.

Ramaco Resources (NASDAQ:METC - Get Free Report) last announced its quarterly earnings data on Monday, March 10th. The energy company reported $0.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.42 by ($0.36). Ramaco Resources had a net margin of 5.35% and a return on equity of 10.17%. The business had revenue of $170.90 million during the quarter, compared to analyst estimates of $166.59 million. During the same quarter in the prior year, the company posted $0.24 EPS. The company's quarterly revenue was down 15.7% compared to the same quarter last year. On average, equities analysts anticipate that Ramaco Resources, Inc. will post 0.05 EPS for the current year.

Ramaco Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be issued a dividend of $0.0688 per share. This represents a $0.28 dividend on an annualized basis and a yield of 2.76%. Ramaco Resources's payout ratio is 245.45%.

Insider Transactions at Ramaco Resources

In other Ramaco Resources news, major shareholder Yorktown Xi Associates Llc sold 89,501 shares of the company's stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $8.09, for a total transaction of $724,063.09. Following the sale, the insider now directly owns 1,024,870 shares of the company's stock, valued at approximately $8,291,198.30. This represents a 8.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter A. Leidel sold 225,000 shares of Ramaco Resources stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $8.08, for a total value of $1,818,000.00. Following the completion of the transaction, the director now owns 677,403 shares of the company's stock, valued at approximately $5,473,416.24. The trade was a 24.93 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 922,582 shares of company stock valued at $7,898,023. Corporate insiders own 41.20% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Harbour Capital Advisors LLC bought a new stake in Ramaco Resources during the 4th quarter worth about $540,000. Barclays PLC boosted its stake in Ramaco Resources by 369.7% in the third quarter. Barclays PLC now owns 44,409 shares of the energy company's stock valued at $519,000 after acquiring an additional 34,954 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Ramaco Resources by 97.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 68,520 shares of the energy company's stock worth $802,000 after acquiring an additional 33,788 shares during the period. Principal Financial Group Inc. raised its position in shares of Ramaco Resources by 11.0% during the 4th quarter. Principal Financial Group Inc. now owns 38,017 shares of the energy company's stock valued at $390,000 after acquiring an additional 3,754 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in shares of Ramaco Resources in the 4th quarter valued at $224,000. Institutional investors and hedge funds own 74.49% of the company's stock.

About Ramaco Resources

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.