Ramaco Resources (NASDAQ:METC) Stock Price Up 7% – Here’s What Happened

Ramaco Resources, Inc. (NASDAQ:METC)’s share price traded up 7% during mid-day trading on Wednesday . The company traded as high as $9.55 and last traded at $9.52. 715,284 shares traded hands during trading, an increase of 21% from the average session volume of 591,693 shares. The stock had previously closed at $8.90.

Wall Street Analyst Weigh In

METC has been the subject of a number of recent research reports. B. Riley decreased their target price on Ramaco Resources from $18.00 to $14.00 and set a “buy” rating for the company in a report on Friday, April 11th. Jefferies Financial Group lowered their price target 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. Finally, Benchmark reaffirmed a “buy” rating on shares of Ramaco Resources in a research report on Wednesday, March 12th.

Ramaco Resources Price Performance

The company has a fifty day moving average price of $8.97 and a two-hundred day moving average price of $10.26. The firm has a market capitalization of $510.84 million, a price-to-earnings ratio of 14.55 and a beta of 1.14. The company has a quick ratio of 0.86, a current ratio of 1.35 and a debt-to-equity ratio of 0.23.

Ramaco Resources (NASDAQ:METC) last posted its quarterly earnings data on Monday, March 10th. The energy company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.36). Ramaco Resources had a net margin of 5.35% and a return on equity of 10.17%. The business had revenue of $170.90 million during the quarter, compared to analyst estimates of $166.59 million. During the same quarter in the prior year, the firm posted $0.24 earnings per share. The company’s revenue for the quarter was down 15.7% compared to the same quarter last year. On average, equities research analysts expect that Ramaco Resources, Inc. will post 0.05 EPS for the current fiscal year.

Ramaco Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be given a dividend of $0.0688 per share. This represents a $0.28 annualized dividend and a yield of 2.91%. Ramaco Resources’s payout ratio is 245.45%.

Insider Buying and Selling

In other news, major shareholder Yorktown Energy Partners Xi, L sold 98,274 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $8.85, for a total value of $869,724.90. Following the sale, the insider now directly owns 1,052,404 shares in the company, valued at $9,313,775.40. This represents a 8.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter A. Leidel sold 180,936 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $8.82, for a total value of $1,595,855.52. Following the completion of the sale, the director now directly owns 708,001 shares in the company, valued at approximately $6,244,568.82. The trade was a 20.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 922,582 shares of company stock valued at $7,898,023 over the last quarter. Company insiders own 41.20% of the company’s stock.

Hedge Funds Weigh In On Ramaco Resources

A number of institutional investors have recently modified their holdings of METC. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Ramaco Resources by 3.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 41,656 shares of the energy company’s stock valued at $427,000 after purchasing an additional 1,425 shares during the last quarter. Arkfeld Wealth Strategies L.L.C. increased its stake in shares of Ramaco Resources by 0.8% in the fourth quarter. Arkfeld Wealth Strategies L.L.C. now owns 232,755 shares of the energy company’s stock valued at $2,251,000 after buying an additional 1,748 shares during the period. Legal & General Group Plc boosted its position in Ramaco Resources by 15.3% during the 4th quarter. Legal & General Group Plc now owns 13,752 shares of the energy company’s stock worth $141,000 after buying an additional 1,822 shares during the period. MetLife Investment Management LLC increased its position in Ramaco Resources by 13.9% in the 4th quarter. MetLife Investment Management LLC now owns 16,189 shares of the energy company’s stock valued at $166,000 after acquiring an additional 1,970 shares during the period. Finally, New York State Common Retirement Fund raised its stake in shares of Ramaco Resources by 12.5% during the fourth quarter. New York State Common Retirement Fund now owns 17,988 shares of the energy company’s stock valued at $185,000 after acquiring an additional 2,000 shares during the last quarter. Institutional investors and hedge funds 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.