Ramaco Resources (NASDAQ:METCB) Shares Down 6% - Time to Sell?

Key Points

• Ramaco Resources' stock declined by 6% during trading, hitting a low of $19.61 before closing at $19.70.
• Analysts have maintained a "hold" rating on the stock, with Weiss Ratings giving it a "hold (c-)" rating.
• Following a recent dividend increase to $0.1918 per share, Ramaco's annualized dividend yield stands at 4.1%, although its dividend payout ratio is currently negative at -167.39%.

Shares of Ramaco Resources, Inc. (NASDAQ:METCB - Get Free Report) fell 6% during trading on Wednesday . The stock traded as low as $19.61 and last traded at $19.70. 84,219 shares traded hands during trading, a decline of 20% from the average session volume of 105,161 shares. The stock had previously closed at $20.97.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a "hold (c-)" rating on shares of Ramaco Resources in a research report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of "Hold".

Ramaco Resources Stock Performance

The business's fifty day moving average price is $16.52 and its 200-day moving average price is $11.61. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.84 and a current ratio of 1.36. The stock has a market cap of $1.04 billion, a PE ratio of -40.84 and a beta of 0.90.

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

Ramaco Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, September 5th were paid a $0.1918 dividend. This is a boost from Ramaco Resources's previous quarterly dividend of $0.18. The ex-dividend date was Friday, September 5th. This represents a $0.77 annualized dividend and a dividend yield of 4.1%. Ramaco Resources's dividend payout ratio (DPR) is currently -167.39%.

Institutional Investors Weigh In On Ramaco Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in METCB. Yorktown Energy Partners XI L.P. raised its stake in Ramaco Resources by 20.6% during the 2nd quarter. Yorktown Energy Partners XI L.P. now owns 1,220,133 shares of the company's stock worth $9,981,000 after acquiring an additional 208,397 shares during the period. Yorktown Energy Partners IX L.P. raised its position in shares of Ramaco Resources by 18.5% during the second quarter. Yorktown Energy Partners IX L.P. now owns 1,204,053 shares of the company's stock valued at $9,849,000 after buying an additional 188,278 shares during the last quarter. Yorktown Energy Partners X L.P. raised its position in shares of Ramaco Resources by 20.6% during the second quarter. Yorktown Energy Partners X L.P. now owns 806,465 shares of the company's stock valued at $6,597,000 after buying an additional 137,742 shares during the last quarter. Acuitas Investments LLC raised its position in shares of Ramaco Resources by 20.4% during the second quarter. Acuitas Investments LLC now owns 180,458 shares of the company's stock valued at $1,476,000 after buying an additional 30,558 shares during the last quarter. Finally, American Century Companies Inc. raised its position in shares of Ramaco Resources by 12.7% during the second quarter. American Century Companies Inc. now owns 221,581 shares of the company's stock valued at $1,813,000 after buying an additional 24,924 shares during the last quarter. Institutional investors own 9.63% of the company's stock.

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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