Ramaco Resources, Inc. (NASDAQ:METC – Get Free Report) announced a quarterly dividend on Monday, March 17th, RTT News reports. Stockholders of record on Friday, May 30th will be given a dividend of 0.0688 per share by the energy company on Friday, June 13th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.97%.
Ramaco Resources has a dividend payout ratio of 31.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Ramaco Resources to earn $0.49 per share next year, which means the company may not be able to cover its $0.55 annual dividend with an expected future payout ratio of 112.2%.
Ramaco Resources Stock Down 3.2 %
Shares of NASDAQ METC traded down $0.31 during mid-day trading on Monday, reaching $9.25. The company had a trading volume of 547,405 shares, compared to its average volume of 563,011. The stock has a fifty day moving average of $9.59 and a two-hundred day moving average of $10.64. Ramaco Resources has a 12-month low of $8.17 and a 12-month high of $17.23. The company has a market capitalization of $485.89 million, a price-to-earnings ratio of 14.23 and a beta of 1.17. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.86 and a current ratio of 1.35.
Analysts Set New Price Targets
A number of brokerages recently issued reports on METC. Benchmark reiterated a “buy” rating on shares of Ramaco Resources in a report on Wednesday, March 12th. Jefferies Financial Group decreased their price objective on shares of Ramaco Resources from $19.00 to $13.00 and set a “buy” rating for the company in a report on Monday, January 6th.
Get Our Latest Research Report on METC
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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