Ramaco Resources (NASDAQ:METC) Stock Price Up 3.6% - Time to Buy?

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 share 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.

Analysts Set New Price Targets

A number of research firms recently weighed in on METC. Jefferies Financial Group restated a "buy" rating and issued a $27.00 price target (up previously from $15.00) on shares of Ramaco Resources in a report on Wednesday, July 16th. Benchmark reaffirmed a "buy" rating and set a $24.00 price target (up previously from $14.00) on shares of Ramaco Resources in a report on Tuesday, August 5th. Finally, Wall Street Zen cut Ramaco Resources from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd.

Ramaco Resources Price Performance

The company's 50-day moving average is $16.35 and its 200-day moving average is $11.68. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of -58.46 and a beta of 1.35. The company has a current ratio of 1.36, a quick ratio of 0.84 and a debt-to-equity ratio of 0.36.

Ramaco Resources (NASDAQ:METC - Get Free Report) last issued its earnings results on Thursday, July 31st. The energy company reported ($0.29) earnings per share for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.07). Ramaco Resources had a negative return on equity of 5.55% and a negative net margin of 3.17%. The business had revenue of $152.96 million for the quarter, compared to the consensus estimate of $131.55 million. During the same quarter in the prior year, the business earned $0.08 EPS. Ramaco Resources's revenue for the quarter was down 1.5% compared to the same quarter last year. Equities research analysts predict 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. Stockholders of record on Friday, May 30th were given a dividend of $0.0688 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Friday, May 30th. Ramaco Resources's dividend payout ratio is currently -62.22%.

Insider Transactions at Ramaco Resources

In other Ramaco Resources news, Director Peter A. Leidel sold 1,600,000 shares of the stock in a transaction on Friday, August 8th. The stock was 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 $46,929,937.50. This trade represents a 39.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 36.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Cetera Investment Advisers raised its position in shares of Ramaco Resources by 27.3% during the 4th quarter. Cetera Investment Advisers now owns 12,872 shares of the energy company's stock worth $132,000 after acquiring an additional 2,760 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in Ramaco Resources by 59.4% in the first quarter. Exchange Traded Concepts LLC now owns 69,763 shares of the energy company's stock valued at $574,000 after purchasing an additional 25,992 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Ramaco Resources by 3.5% in the fourth 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 during the last quarter. CenterBook Partners LP increased its stake in Ramaco Resources by 151.0% during the first quarter. CenterBook Partners LP now owns 1,678,594 shares of the energy company's stock worth $13,815,000 after acquiring an additional 1,009,782 shares during the last quarter. Finally, MetLife Investment Management LLC increased its stake in Ramaco Resources by 13.9% during the fourth quarter. MetLife Investment Management LLC now owns 16,189 shares of the energy company's stock worth $166,000 after acquiring an additional 1,970 shares during the last quarter. 74.49% of the stock is currently owned by hedge funds and other institutional investors.

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.

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