Ramaco Resources, Inc. (METC) to Issue Quarterly Dividend of $0.14 on September 13th

Ramaco Resources, Inc. (NASDAQ:METC) announced a quarterly dividend on Wednesday, August 7th, Zacks reports. Stockholders of record on Friday, August 30th will be paid a dividend of 0.138 per share by the energy company on Friday, September 13th. This represents a $0.55 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date of this dividend is Friday, August 30th.

Ramaco Resources has a dividend payout ratio of 25.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Ramaco Resources to earn $2.27 per share next year, which means the company should continue to be able to cover its $0.55 annual dividend with an expected future payout ratio of 24.2%.

Ramaco Resources Stock Performance

NASDAQ METC traded up $0.16 during trading on Friday, hitting $13.17. The company’s stock had a trading volume of 124,337 shares, compared to its average volume of 756,124. The company has a quick ratio of 0.95, a current ratio of 1.23 and a debt-to-equity ratio of 0.18. Ramaco Resources has a 52 week low of $7.65 and a 52 week high of $22.70. The firm has a 50 day moving average price of $13.35 and a 200 day moving average price of $15.44. The firm has a market cap of $582.94 million, a P/E ratio of 11.12 and a beta of 1.09.

Ramaco Resources (NASDAQ:METC) last issued its earnings results on Wednesday, August 7th. The energy company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.23. Ramaco Resources had a net margin of 8.44% and a return on equity of 17.19%. The business had revenue of $155.32 million for the quarter, compared to analyst estimates of $141.66 million. Equities research analysts forecast that Ramaco Resources will post 1.68 earnings per share for the current fiscal year.

Insider Activity

In other news, General Counsel Evan H. Jenkins bought 7,158 shares of the company’s stock in a transaction on Wednesday, May 29th. The stock was purchased at an average cost of $13.97 per share, for a total transaction of $99,997.26. Following the completion of the transaction, the general counsel now owns 23,480 shares of the company’s stock, valued at $328,015.60. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 45.98% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on METC shares. Benchmark lowered their price target on shares of Ramaco Resources from $24.00 to $20.00 and set a “buy” rating for the company in a report on Friday, May 10th. B. Riley decreased their target price on Ramaco Resources from $24.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $17.50.

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.