Ramaco Resources (NASDAQ:METC) Trading 10.4% Higher - Here's What Happened

Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report) rose 10.4% during trading on Tuesday . The stock traded as high as $20.73 and last traded at $21.11. Approximately 1,594,869 shares traded hands during mid-day trading, an increase of 104% from the average daily volume of 780,288 shares. The stock had previously closed at $19.12.

Analyst Ratings Changes

Several brokerages have issued reports on METC. B. Riley lowered their target price on shares of Ramaco Resources from $18.00 to $14.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Benchmark lowered 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. Jefferies Financial Group reaffirmed a "buy" rating and set a $27.00 price objective (up previously from $15.00) on shares of Ramaco Resources in a research note on Wednesday. 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 Performance

The company has a current ratio of 1.32, a quick ratio of 0.87 and a debt-to-equity ratio of 0.33. The firm has a market cap of $1.23 billion, a PE ratio of -280.25 and a beta of 1.30. The firm has a fifty day moving average price of $11.76 and a 200 day moving average price of $10.17.

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, topping analysts' consensus estimates of ($0.29) by $0.10. The firm had revenue of $115.61 million during the quarter, compared to the consensus estimate 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 quarterly revenue was down 22.0% on a year-over-year basis. During the same period last year, the company earned $0.23 EPS. As a group, equities research analysts expect that Ramaco Resources, Inc. will post 0.05 earnings per share for the current fiscal year.

Ramaco Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors 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 1.23%. Ramaco Resources's dividend payout ratio is presently -350.00%.

Institutional Trading of Ramaco Resources

Several hedge funds have recently added to or reduced their stakes in METC. Farther Finance Advisors LLC grew its stake in shares of Ramaco Resources by 384.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 3,920 shares of the energy company's stock valued at $52,000 after purchasing an additional 3,110 shares during the last quarter. Empowered Funds LLC increased its position in shares of Ramaco Resources by 1.8% in the first quarter. Empowered Funds LLC now owns 123,110 shares of the energy company's stock valued at $1,013,000 after buying an additional 2,223 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Ramaco Resources by 27.0% in the first quarter. Goldman Sachs Group Inc. now owns 274,545 shares of the energy company's stock valued at $2,260,000 after purchasing an additional 58,304 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Ramaco Resources during the first quarter worth $555,000. Finally, Encompass Capital Advisors LLC acquired a new stake in shares of Ramaco Resources during the 1st quarter worth about $13,248,000. Institutional investors and hedge funds own 74.49% of the company's stock.

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.