Ramaco Resources (NASDAQ:METC) Stock Price Up 4.5% - Here's Why

Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report)'s stock price rose 4.5% during mid-day trading on Friday . The company traded as high as $10.78 and last traded at $10.71. Approximately 212,499 shares changed hands during trading, a decline of 66% from the average daily volume of 620,603 shares. The stock had previously closed at $10.25.

Analysts Set New Price Targets

METC has been the topic of several research reports. Benchmark dropped their price target on shares of Ramaco Resources from $18.00 to $14.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. B. Riley dropped their target price on shares of Ramaco Resources from $18.00 to $14.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Finally, Wall Street Zen lowered shares of Ramaco Resources from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd.

Ramaco Resources Stock Up 3.7%

The stock has a fifty day moving average of $9.38 and a 200-day moving average of $9.69. The firm has a market capitalization of $623.08 million, a price-to-earnings ratio of 17.52 and a beta of 1.18. The company has a current ratio of 1.35, a quick ratio of 0.86 and a debt-to-equity ratio of 0.23.

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

Ramaco Resources Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors 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 annualized dividend and a dividend yield of 2.41%. Ramaco Resources's dividend payout ratio (DPR) is presently -337.50%.

Insider Buying and Selling

In other news, major shareholder Yorktown Energy Partners Xi, L sold 98,274 shares of the company's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $8.85, for a total value of $869,724.90. Following the transaction, the insider now owns 1,052,404 shares in the company, valued at $9,313,775.40. This represents a 8.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Peter A. Leidel sold 245,000 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $8.85, for a total transaction of $2,168,250.00. Following the sale, the director now owns 695,601 shares of the company's stock, 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. In the last 90 days, insiders sold 922,582 shares of company stock valued at $7,898,023. Company insiders own 36.20% of the company's stock.

Institutional Investors Weigh In On Ramaco Resources

A number of institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. raised its holdings in shares of Ramaco Resources by 11.0% during the fourth quarter. Principal Financial Group Inc. now owns 38,017 shares of the energy company's stock worth $390,000 after acquiring an additional 3,754 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in Ramaco Resources in the 4th quarter worth about $224,000. Cetera Investment Advisers raised its stake 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 purchasing an additional 2,760 shares in the last quarter. New York State Common Retirement Fund raised its stake in shares of Ramaco Resources by 12.5% during the 4th quarter. New York State Common Retirement Fund now owns 17,988 shares of the energy company's stock worth $185,000 after purchasing an additional 2,000 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in shares of Ramaco Resources by 13.9% during the 4th quarter. MetLife Investment Management LLC now owns 16,189 shares of the energy company's stock valued at $166,000 after buying an additional 1,970 shares during the last quarter. 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.