Ramaco Resources (NASDAQ:METCB) Trading Up 5.7% - What's Next?

Key Points

• Ramaco Resources' shares rose by 5.7% during trading, reaching a high of $18.49, though trading volume was down 35% from average levels.
• The company recently announced a quarterly dividend increase to $0.1918 per share, representing a 4.2% yield, despite a negative dividend payout ratio.
• Wall Street analysts have given Ramaco Resources a consensus rating of "Hold", reflecting cautious optimism about the company's potential for growth.

Shares of Ramaco Resources, Inc. (NASDAQ:METCB - Get Free Report) shot up 5.7% during trading on Tuesday . The company traded as high as $18.49 and last traded at $18.27. 67,219 shares traded hands during mid-day trading, a decline of 35% from the average session volume of 103,177 shares. The stock had previously closed at $17.29.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a "hold (c-)" rating on shares of Ramaco Resources in a research report on Saturday, September 27th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Ramaco Resources currently has a consensus rating of "Hold".

Ramaco Resources Price Performance

The stock has a market cap of $1.01 billion, a price-to-earnings ratio of -39.86 and a beta of 0.90. The company has a 50 day simple moving average of $15.80 and a 200-day simple moving average of $11.12. The company has a current ratio of 1.36, a quick ratio of 0.84 and a debt-to-equity ratio of 0.36.

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

Ramaco Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, September 5th were issued a dividend of $0.1918 per share. The ex-dividend date was Friday, September 5th. This is a positive change from Ramaco Resources's previous quarterly dividend of $0.18. This represents a $0.77 annualized dividend and a yield of 4.2%. Ramaco Resources's dividend payout ratio is currently -165.22%.

Institutional Investors Weigh In On Ramaco Resources

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

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