Ramaco Resources (NASDAQ:METC) Stock Price Up 3.6% - Here's Why

Key Points

• Ramaco Resources (NASDAQ:METC) saw its stock price increase by 3.6%, closing at $26.54, and had a trading volume significantly below the average.
• Analysts remain optimistic on METC, with Jefferies Financial Group upgrading its price target to $27.00 from $15.00, while Benchmark raised its target to $24.00 from $14.00.
• The company's recent earnings report showed a loss of ($0.29) per share, missing estimates, and a revenue of $152.96 million, reflecting a 1.5% decline year-over-year.

Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report)'s stock price was up 3.6% on Thursday . The company traded as high as $26.91 and last traded at $26.54. Approximately 784,370 shares traded hands during mid-day trading, a decline of 46% from the average daily volume of 1,439,475 shares. The stock had previously closed at $25.61.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on METC shares. Benchmark restated a "buy" rating and set a $24.00 target price (up from $14.00) on shares of Ramaco Resources in a research note on Tuesday, August 5th. Wall Street Zen lowered Ramaco Resources from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Finally, Jefferies Financial Group restated a "buy" rating and set a $27.00 price objective (up from $15.00) on shares of Ramaco Resources in a report on Wednesday, July 16th. Three analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $21.67.

Ramaco Resources Stock Down 7.9%

The company has a debt-to-equity ratio of 0.36, a current ratio of 1.36 and a quick ratio of 0.84. The stock's fifty day simple moving average is $17.44 and its 200-day simple moving average is $12.08. The stock has a market cap of $1.15 billion, a P/E ratio of -46.33 and a beta of 1.35.

Ramaco Resources (NASDAQ:METC - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The energy company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.07). The company had revenue of $152.96 million for the quarter, compared to analyst estimates of $131.55 million. Ramaco Resources had a negative net margin of 3.17% and a negative return on equity of 5.55%. The company's revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.08 EPS. On average, research 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 announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a dividend of $0.0688 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Friday, May 30th. Ramaco Resources's payout ratio is presently -62.22%.

Insider Buying and Selling

In other Ramaco Resources news, Director Peter A. Leidel sold 1,600,000 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $18.75, for a total value of $30,000,000.00. Following the sale, the director owned 2,502,930 shares in the company, valued at approximately $46,929,937.50. This trade represents a 39.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 36.20% of the company's stock.

Institutional Trading of Ramaco Resources

Several hedge funds have recently added to or reduced their stakes in METC. Brooklyn Investment Group bought a new stake in shares of Ramaco Resources during the first quarter valued at about $25,000. Ameritas Investment Partners Inc. increased its position in shares of Ramaco Resources by 63.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,632 shares of the energy company's stock valued at $48,000 after purchasing an additional 1,416 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Ramaco Resources by 384.0% in the second quarter. Farther Finance Advisors LLC now owns 3,920 shares of the energy company's stock valued at $52,000 after buying an additional 3,110 shares during the period. State of Wyoming bought a new position in Ramaco Resources during the first quarter valued at about $50,000. Finally, AlphaQuest LLC grew its holdings in Ramaco Resources by 30.6% during the first quarter. AlphaQuest LLC now owns 6,332 shares of the energy company's stock worth $52,000 after acquiring an additional 1,482 shares during the period. Institutional investors 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.