Ramaco Resources (NASDAQ:METC) Trading Down 4% - Time to Sell?

Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report) shares fell 4% during mid-day trading on Thursday . The stock traded as low as $11.45 and last traded at $11.53. 331,552 shares traded hands during trading, a decline of 52% from the average session volume of 686,378 shares. The stock had previously closed at $12.01.

Wall Street Analyst Weigh In

Several research firms have issued reports on METC. Benchmark decreased their price objective on shares of Ramaco Resources from $18.00 to $14.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Wall Street Zen downgraded shares of Ramaco Resources from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Finally, B. Riley decreased 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 note on Friday, April 11th.

Ramaco Resources Trading Down 1.1%

The stock has a market capitalization of $649.56 million, a price-to-earnings ratio of -148.44 and a beta of 1.30. The company's 50-day moving average is $10.13 and its 200-day moving average is $9.64. The company has a quick ratio of 0.87, a current ratio of 1.32 and a debt-to-equity ratio of 0.33.

Ramaco Resources (NASDAQ:METC - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The energy company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.10. Ramaco Resources had a negative net margin of 0.05% and a negative return on equity of 0.08%. The firm had revenue of $115.61 million during the quarter, compared to analysts' expectations of $137.10 million. During the same period last year, the business earned $0.23 earnings per share. Ramaco Resources's revenue was down 22.0% compared to the same quarter last year. Research analysts anticipate 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 given a dividend of $0.0688 per share. This represents a $0.28 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend was Friday, May 30th. Ramaco Resources's payout ratio is currently -350.00%.

Institutional Investors Weigh In On Ramaco Resources

Several hedge funds and other institutional investors have recently bought and sold shares of METC. Empowered Funds LLC increased its position in shares of Ramaco Resources by 1.8% during the first quarter. Empowered Funds LLC now owns 123,110 shares of the energy company's stock valued at $1,013,000 after acquiring an additional 2,223 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Ramaco Resources by 27.0% during the first quarter. Goldman Sachs Group Inc. now owns 274,545 shares of the energy company's stock valued at $2,260,000 after acquiring an additional 58,304 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Ramaco Resources during the first quarter valued at about $555,000. Encompass Capital Advisors LLC acquired a new stake in shares of Ramaco Resources during the first quarter valued at about $13,248,000. Finally, PDT Partners LLC increased its position in shares of Ramaco Resources by 13.4% during the first quarter. PDT Partners LLC now owns 83,962 shares of the energy company's stock valued at $691,000 after acquiring an additional 9,952 shares during the last quarter. 74.49% of the stock is currently owned by institutional investors and hedge funds.

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.