Ramaco Resources (NASDAQ:METC) Shares Gap Up – Time to Buy?

Shares of Ramaco Resources, Inc. (NASDAQ:METC) gapped up before the market opened on Tuesday . The stock had previously closed at $12.18, but opened at $12.51. Ramaco Resources shares last traded at $13.28, with a volume of 103,194 shares trading hands.

Analyst Ratings Changes

A number of research firms have recently commented on METC. B. Riley cut their price target on shares of Ramaco Resources from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. Benchmark restated a “buy” rating and issued a $20.00 price target on shares of Ramaco Resources in a research note on Thursday, August 29th.

Ramaco Resources Stock Performance

The business’s 50 day simple moving average is $11.47 and its two-hundred day simple moving average is $12.26. The firm has a market capitalization of $663.45 million, a PE ratio of 18.74 and a beta of 1.14. The company has a current ratio of 1.35, a quick ratio of 0.86 and a debt-to-equity ratio of 0.23.

Ramaco Resources (NASDAQ:METC) last posted its earnings results on Monday, November 4th. The energy company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). The firm had revenue of $167.40 million during the quarter, compared to the consensus estimate of $156.41 million. Ramaco Resources had a net margin of 5.35% and a return on equity of 10.17%. The firm’s revenue was down 10.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.45 EPS. Research analysts expect that Ramaco Resources, Inc. will post 0.86 earnings per share for the current fiscal year.

Ramaco Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.1375 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.55 dividend on an annualized basis and a yield of 4.35%. Ramaco Resources’s dividend payout ratio is currently 84.62%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. American Century Companies Inc. raised its holdings in Ramaco Resources by 14.9% in the 2nd quarter. American Century Companies Inc. now owns 694,615 shares of the energy company’s stock worth $8,648,000 after purchasing an additional 90,014 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Ramaco Resources by 21.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,380,601 shares of the energy company’s stock valued at $17,186,000 after buying an additional 245,924 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its holdings in Ramaco Resources by 190.4% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 89,958 shares of the energy company’s stock worth $1,053,000 after acquiring an additional 58,980 shares in the last quarter. Vanguard Group Inc. raised its stake in Ramaco Resources by 8.9% during the 1st quarter. Vanguard Group Inc. now owns 1,591,146 shares of the energy company’s stock worth $26,795,000 after acquiring an additional 130,593 shares during the period. Finally, Lunt Capital Management Inc. lifted its holdings in Ramaco Resources by 619.0% during the third quarter. Lunt Capital Management Inc. now owns 71,900 shares of the energy company’s stock valued at $841,000 after purchasing an additional 61,900 shares in the last quarter. Hedge funds and other institutional investors 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.