Ramaco Resources (NASDAQ:METC) Shares Up 5.7% - Still a Buy?

Shares of Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report) shot up 5.7% on Friday . The company traded as high as $12.06 and last traded at $12.15. 321,803 shares were traded during trading, a decline of 50% from the average session volume of 640,856 shares. The stock had previously closed at $11.50.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on METC. Wall Street Zen downgraded Ramaco Resources from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Benchmark lowered their price objective 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. Finally, B. Riley cut 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 note on Friday, April 11th.

Ramaco Resources Price 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 stock has a market capitalization of $718.76 million, a price-to-earnings ratio of -164.25 and a beta of 1.18. The stock has a fifty day moving average of $9.93 and a two-hundred day moving average of $9.61.

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, beating analysts' consensus estimates of ($0.29) by $0.10. The business had revenue of $115.61 million during the quarter, compared to analyst estimates of $137.10 million. Ramaco Resources had a negative net margin of 0.05% and a negative return on equity of 0.08%. Ramaco Resources's revenue for the quarter was down 22.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.23 earnings per share. As a group, equities research analysts forecast that Ramaco Resources, Inc. will post 0.05 earnings per share for the current year.

Ramaco Resources Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors 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 2.09%. The ex-dividend date of this dividend was Friday, May 30th. Ramaco Resources's dividend payout ratio is currently -350.00%.

Institutional Trading of Ramaco Resources

A number of institutional investors have recently bought and sold shares of METC. Empowered Funds LLC boosted 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 worth $1,013,000 after purchasing an additional 2,223 shares in the last quarter. Goldman Sachs Group Inc. boosted 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 worth $2,260,000 after buying an additional 58,304 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Ramaco Resources during the first quarter worth about $555,000. Encompass Capital Advisors LLC acquired a new position in shares of Ramaco Resources during the first quarter worth about $13,248,000. Finally, PDT Partners LLC boosted 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 worth $691,000 after buying an additional 9,952 shares during the period. 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.