Ramaco Resources (NASDAQ:METC) Trading Up 4.8% – What’s Next?

Ramaco Resources, Inc. (NASDAQ:METC) traded up 4.8% on Wednesday . The company traded as high as $9.90 and last traded at $9.92. 21,226 shares traded hands during trading, a decline of 95% from the average session volume of 469,195 shares. The stock had previously closed at $9.47.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group dropped their price target on Ramaco Resources from $19.00 to $13.00 and set a “buy” rating on the stock in a research report on Monday, January 6th.

Ramaco Resources Trading Up 2.8 %

The stock has a market cap of $511.37 million, a PE ratio of 15.03 and a beta of 1.18. The firm has a 50-day moving average price of $10.91 and a 200-day moving average price of $11.41. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.86 and a current ratio of 1.35.

Ramaco Resources (NASDAQ:METC) last issued its earnings results on Monday, November 4th. The energy company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The firm had revenue of $167.40 million during the quarter, compared to analysts’ expectations of $156.41 million. Ramaco Resources had a return on equity of 10.17% and a net margin of 5.35%. The firm’s quarterly revenue was down 10.5% on a year-over-year basis. During the same period last year, the firm posted $0.45 earnings per share. As a group, equities analysts anticipate that Ramaco Resources, Inc. will post 0.05 EPS for the current fiscal year.

Ramaco Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a dividend of $0.1375 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.55 annualized dividend and a dividend yield of 5.65%. Ramaco Resources’s payout ratio is 84.62%.

Institutional Investors Weigh In On Ramaco Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its position in Ramaco Resources by 21.7% during the second quarter. Dimensional Fund Advisors LP now owns 1,380,601 shares of the energy company’s stock valued at $17,186,000 after acquiring an additional 245,924 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Ramaco Resources by 40.1% during the 2nd quarter. Renaissance Technologies LLC now owns 129,688 shares of the energy company’s stock valued at $1,615,000 after purchasing an additional 37,100 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of Ramaco Resources by 287.2% in the 2nd quarter. Marshall Wace LLP now owns 125,565 shares of the energy company’s stock worth $1,563,000 after purchasing an additional 93,139 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Ramaco Resources by 219.6% in the second quarter. AQR Capital Management LLC now owns 32,059 shares of the energy company’s stock worth $399,000 after buying an additional 22,027 shares during the last quarter. Finally, Millennium Management LLC grew its position in Ramaco Resources by 22.4% during the second quarter. Millennium Management LLC now owns 435,007 shares of the energy company’s stock valued at $5,416,000 after buying an additional 79,687 shares during the period. Hedge funds and other institutional investors own 74.49% 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.