Ramaco Resources (NASDAQ:METC) Shares Down 2.4% - What's Next?

Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report) traded down 2.4% during trading on Tuesday . The company traded as low as $9.03 and last traded at $9.26. 137,611 shares changed hands during trading, a decline of 77% from the average session volume of 599,201 shares. The stock had previously closed at $9.48.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Benchmark restated a "buy" rating on shares of Ramaco Resources in a research report on Wednesday, March 12th. B. Riley reduced 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 report on Friday, April 11th. Finally, Jefferies Financial Group lowered their price target on shares of Ramaco Resources from $19.00 to $13.00 and set a "buy" rating on the stock in a report on Monday, January 6th.

Ramaco Resources Trading Down 4.0 %

The firm has a fifty day moving average of $8.91 and a two-hundred day moving average of $10.16. The company has a market cap of $537.84 million, a PE ratio of 15.32 and a beta of 1.14. 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 posted its earnings results on Monday, March 10th. The energy company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.36). The business had revenue of $170.90 million during the quarter, compared to analysts' expectations of $166.59 million. Ramaco Resources had a return on equity of 10.17% and a net margin of 5.35%. Ramaco Resources's revenue for the quarter was down 15.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.24 EPS. As a group, sell-side analysts predict that Ramaco Resources, Inc. will post 0.05 EPS for the current year.

Ramaco Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be issued a dividend of $0.0688 per share. This represents a $0.28 dividend on an annualized basis and a yield of 2.76%. Ramaco Resources's payout ratio is 245.45%.

Insider Transactions at Ramaco Resources

In other news, Director Peter A. Leidel sold 225,000 shares of the business's stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $8.08, for a total transaction of $1,818,000.00. Following the completion of the transaction, the director now directly owns 677,403 shares in the company, valued at $5,473,416.24. The trade was a 24.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Yorktown Xi Associates Llc sold 89,501 shares of the company's stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $8.09, for a total transaction of $724,063.09. Following the completion of the transaction, the insider now directly owns 1,024,870 shares in the company, valued at approximately $8,291,198.30. The trade was a 8.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 922,582 shares of company stock valued at $7,898,023 over the last three months. Company insiders own 41.20% of the company's stock.

Hedge Funds Weigh In On Ramaco Resources

A number of large investors have recently modified their holdings of METC. Discovery Capital Management LLC CT bought a new stake in shares of Ramaco Resources in the fourth quarter worth about $9,289,000. CenterBook Partners LP bought a new stake in shares of Ramaco Resources in the 4th quarter worth approximately $6,862,000. Graham Capital Management L.P. bought a new stake in shares of Ramaco Resources in the 4th quarter worth approximately $3,588,000. Point72 Asset Management L.P. raised its holdings in shares of Ramaco Resources by 98.9% during the fourth quarter. Point72 Asset Management L.P. now owns 696,531 shares of the energy company's stock valued at $7,146,000 after acquiring an additional 346,265 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of Ramaco Resources by 39.0% during the fourth quarter. Wells Fargo & Company MN now owns 797,283 shares of the energy company's stock valued at $8,180,000 after acquiring an additional 223,682 shares in the last quarter. 74.49% of the stock is 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.