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Ramaco Resources (NASDAQ:METC) Shares Up 4% - What's Next?

Ramaco Resources logo with Energy background

Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report)'s share price rose 4% on Monday . The company traded as high as $12.59 and last traded at $12.42. Approximately 573,228 shares changed hands during mid-day trading, a decline of 17% from the average daily volume of 690,289 shares. The stock had previously closed at $11.94.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on METC shares. Benchmark reduced 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 Tuesday, May 13th. Wall Street Zen lowered Ramaco Resources from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Finally, B. Riley reduced 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 Report on METC

Ramaco Resources Trading Up 30.9%

The firm has a market cap of $909.66 million, a price-to-earnings ratio of -207.88 and a beta of 1.30. The company has a fifty day moving average price of $10.43 and a 200-day moving average price of $9.73. The company has a current ratio of 1.32, a quick ratio of 0.87 and a debt-to-equity ratio of 0.33.

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, beating the consensus estimate of ($0.29) by $0.10. The business had revenue of $115.61 million during 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 revenue for the quarter was down 22.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.23 EPS. As a group, research analysts expect 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 was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were issued a $0.0688 dividend. The ex-dividend date was Friday, May 30th. This represents a $0.28 annualized dividend and a dividend yield of 1.65%. Ramaco Resources's dividend payout ratio (DPR) is presently -350.00%.

Hedge Funds Weigh In On Ramaco Resources

Several institutional investors and hedge funds have recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake 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 valued at $427,000 after purchasing an additional 1,425 shares in the last quarter. AlphaQuest LLC increased its stake in shares of Ramaco Resources by 30.6% in the 1st quarter. AlphaQuest LLC now owns 6,332 shares of the energy company's stock valued at $52,000 after purchasing an additional 1,482 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Ramaco Resources by 15.3% in the 4th quarter. Legal & General Group Plc now owns 13,752 shares of the energy company's stock valued at $141,000 after purchasing an additional 1,822 shares in the last quarter. MetLife Investment Management LLC increased 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. Finally, Empowered Funds LLC increased its stake in shares of Ramaco Resources by 1.8% in the 1st quarter. Empowered Funds LLC now owns 123,110 shares of the energy company's stock valued at $1,013,000 after purchasing an additional 2,223 shares in the last quarter. 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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