Ramaco Resources (NASDAQ:METC) Shares Up 9.5% – Here’s Why

Ramaco Resources, Inc. (NASDAQ:METC) shares rose 9.5% on Thursday . The company traded as high as $9.50 and last traded at $9.70. Approximately 127,705 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 571,103 shares. The stock had previously closed at $8.86.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Benchmark reissued a “buy” rating on shares of Ramaco Resources in a research note on Wednesday. Jefferies Financial Group reduced their price target on Ramaco Resources from $19.00 to $13.00 and set a “buy” rating for the company in a report on Monday, January 6th.

Ramaco Resources Price Performance

The company has a quick ratio of 0.86, a current ratio of 1.35 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $489.99 million, a price-to-earnings ratio of 14.42 and a beta of 1.17. The stock’s 50-day simple moving average is $9.63 and its two-hundred day simple moving average is $10.68.

Ramaco Resources (NASDAQ:METC) last released its earnings results on Monday, March 10th. The energy company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.36). The company had revenue of $170.90 million for the quarter, compared to analysts’ expectations of $166.59 million. Ramaco Resources had a return on equity of 10.17% and a net margin of 5.35%. The firm’s revenue for the quarter was down 15.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.24 EPS. Equities research analysts predict that Ramaco Resources, Inc. will post 0.05 earnings per share for the current year.

Ramaco Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a $0.1375 dividend. This represents a $0.55 dividend on an annualized basis and a dividend yield of 5.90%. The ex-dividend date is Friday, February 28th. Ramaco Resources’s dividend payout ratio is presently 84.62%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in METC. Pingora Partners LLC grew its holdings in shares of Ramaco Resources by 330.2% during the third quarter. Pingora Partners LLC now owns 3,700 shares of the energy company’s stock worth $43,000 after buying an additional 2,840 shares in the last quarter. Point72 DIFC Ltd acquired a new position in Ramaco Resources during the third quarter worth about $45,000. AlphaQuest LLC purchased a new stake in Ramaco Resources during the 4th quarter valued at about $50,000. Campbell Capital Management Inc. acquired a new stake in Ramaco Resources in the 4th quarter valued at about $51,000. Finally, Jones Financial Companies Lllp purchased a new position in Ramaco Resources in the 4th quarter worth approximately $56,000. 74.49% of the stock is 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.