Ramaco Resources (NASDAQ:METCB) Sets New 52-Week High - What's Next?

Key Points

• Ramaco Resources reached a new 52-week high with its stock price climbing to $19.15 after a mid-day trading period, significantly up from a previous close of $15.84.
• The company reported a quarterly earnings per share of ($0.29) alongside a revenue of $152.96 million, indicating a negative net margin of 3.17%.
• Ramaco Resources announced a quarterly dividend of $0.1811 per share, resulting in a 4.2% yield, although its dividend payout ratio stands at -156.52%, indicating it is paying out more in dividends than it earns.

Ramaco Resources, Inc. (NASDAQ:METCB - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $16.66 and last traded at $19.15, with a volume of 144585 shares. The stock had previously closed at $15.84.

Ramaco Resources Trading Up 9.4%

The business's 50 day moving average price is $10.73 and its two-hundred day moving average price is $9.14. The company has a current ratio of 1.36, a quick ratio of 0.84 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $956.80 million, a price-to-earnings ratio of -37.50 and a beta of 0.89.

Ramaco Resources (NASDAQ:METCB - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported ($0.29) earnings per share for the quarter. Ramaco Resources had a negative net margin of 3.17% and a negative return on equity of 5.70%. The company had revenue of $152.96 million during the quarter.

Ramaco Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were given a dividend of $0.1811 per share. The ex-dividend date was Friday, May 30th. This represents a $0.72 annualized dividend and a yield of 4.2%. Ramaco Resources's dividend payout ratio (DPR) is currently -156.52%.

Institutional Investors Weigh In On Ramaco Resources

Several hedge funds have recently added to or reduced their stakes in the business. Comerica Bank lifted its position in shares of Ramaco Resources by 271.3% in the 4th quarter. Comerica Bank now owns 73,197 shares of the company's stock worth $723,000 after purchasing an additional 53,483 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Ramaco Resources by 87.6% in the 4th quarter. JPMorgan Chase & Co. now owns 17,413 shares of the company's stock worth $172,000 after purchasing an additional 8,129 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Ramaco Resources by 7.8% in the 1st quarter. Bank of New York Mellon Corp now owns 25,628 shares of the company's stock worth $182,000 after purchasing an additional 1,848 shares during the period. Bank of America Corp DE lifted its position in shares of Ramaco Resources by 64.6% in the 4th quarter. Bank of America Corp DE now owns 12,516 shares of the company's stock worth $124,000 after purchasing an additional 4,914 shares during the period. Finally, Wells Fargo & Company MN lifted its position in shares of Ramaco Resources by 620.7% in the 4th quarter. Wells Fargo & Company MN now owns 11,099 shares of the company's stock worth $110,000 after purchasing an additional 9,559 shares during the period. 9.63% of the stock is currently owned by institutional investors and hedge funds.

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.

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