Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report) shares were up 5.7% during mid-day trading on Friday . The company traded as high as $12.06 and last traded at $12.15. Approximately 321,803 shares traded hands during mid-day trading, a decline of 50% from the average daily volume of 640,856 shares. The stock had previously closed at $11.50.
Analyst Ratings Changes
A number of equities analysts have issued reports on METC shares. B. Riley decreased their price objective on Ramaco Resources from $18.00 to $14.00 and set a "buy" rating for the company in a report on Friday, April 11th. Wall Street Zen cut Ramaco Resources from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Finally, Benchmark cut their target price on Ramaco Resources from $18.00 to $14.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th.
Read Our Latest Analysis on Ramaco Resources
Ramaco Resources Trading Up 5.3%
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 stock has a 50 day simple moving average of $9.88 and a 200-day simple moving average of $9.64. The firm has a market cap of $662.69 million, a P/E ratio of -151.39 and a beta of 1.18.
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 analysts' consensus estimates of ($0.29) by $0.10. The business had revenue of $115.61 million for 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 revenue was down 22.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.23 EPS. On average, equities research analysts expect that Ramaco Resources, Inc. will post 0.05 EPS for the current fiscal year.
Ramaco Resources Cuts Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were issued a $0.0688 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend was Friday, May 30th. Ramaco Resources's dividend payout ratio (DPR) is -350.00%.
Hedge Funds Weigh In On Ramaco Resources
A number of large investors have recently bought and sold shares of METC. Brooklyn Investment Group purchased a new position in Ramaco Resources during the 1st quarter valued at $25,000. AlphaQuest LLC purchased a new stake in shares of Ramaco Resources in the 4th quarter worth $50,000. State of Wyoming purchased a new stake in shares of Ramaco Resources in the 1st quarter worth $50,000. Campbell Capital Management Inc. purchased a new stake in shares of Ramaco Resources in the 4th quarter worth $51,000. Finally, Jones Financial Companies Lllp purchased a new stake in shares of Ramaco Resources in the 4th quarter worth $56,000. Hedge funds and other institutional investors own 74.49% of the company's stock.
About Ramaco Resources
(
Get Free Report)
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.
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