Ramaco Resources (NASDAQ:METC) Shares Up 4.5% - What's Next?

Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report) shot up 4.5% during trading on Friday . The company traded as high as $10.78 and last traded at $10.71. 212,499 shares were traded during trading, a decline of 66% from the average session volume of 620,603 shares. The stock had previously closed at $10.25.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on METC shares. Benchmark decreased their target price on shares of 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 cut shares of Ramaco Resources from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, B. Riley dropped their target price on Ramaco Resources from $18.00 to $14.00 and set a "buy" rating on the stock in a research report on Friday, April 11th.

Ramaco Resources Trading Up 7.1%

The firm has a market cap of $600.65 million, a P/E ratio of 16.89 and a beta of 1.18. The business's 50 day moving average is $9.38 and its 200-day moving average is $9.73. The company has a quick ratio of 0.86, a current ratio of 1.35 and a debt-to-equity ratio of 0.23.

Ramaco Resources (NASDAQ:METC - Get Free Report) last issued its earnings results on Monday, May 12th. The energy company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.10. The company had revenue of $115.61 million during the quarter, compared to analyst estimates of $137.10 million. Ramaco Resources had a return on equity of 10.17% and a net margin of 5.35%. The business's revenue was down 22.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.23 EPS. As a group, analysts forecast that Ramaco Resources, Inc. will post 0.05 earnings per share for the current fiscal year.

Ramaco Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were given a $0.0688 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.50%. Ramaco Resources's payout ratio is currently -337.50%.

Insider Activity at Ramaco Resources

In other news, major shareholder Yorktown Energy Partners Xi, L sold 83,871 shares of the company's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $8.61, for a total transaction of $722,129.31. Following the completion of the transaction, the insider now owns 1,059,909 shares in the company, valued at approximately $9,125,816.49. This represents a 7.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter A. Leidel sold 245,000 shares of Ramaco Resources stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $8.85, for a total transaction of $2,168,250.00. Following the completion of the sale, the director now owns 695,601 shares in the company, valued at approximately $6,156,068.85. This represents a 26.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 922,582 shares of company stock valued at $7,898,023 in the last quarter. Insiders own 36.20% of the company's stock.

Hedge Funds Weigh In On Ramaco Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in METC. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Ramaco Resources by 3.5% during 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 acquiring an additional 1,425 shares in the last quarter. AlphaQuest LLC increased its holdings in shares of Ramaco Resources by 30.6% during the first 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 during the period. Legal & General Group Plc raised its stake in shares of Ramaco Resources by 15.3% during the fourth 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 lifted its holdings in Ramaco Resources by 13.9% in the fourth quarter. MetLife Investment Management LLC now owns 16,189 shares of the energy company's stock worth $166,000 after purchasing an additional 1,970 shares during the period. Finally, New York State Common Retirement Fund grew its position in Ramaco Resources by 12.5% in the 4th quarter. New York State Common Retirement Fund now owns 17,988 shares of the energy company's stock valued at $185,000 after buying an additional 2,000 shares in the last quarter. 74.49% of the stock is owned by 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.