Ramaco Resources (NASDAQ:METC) Shares Gap Up – Still a Buy?

Shares of Ramaco Resources, Inc. (NASDAQ:METC) gapped up prior to trading on Tuesday . The stock had previously closed at $8.40, but opened at $9.15. Ramaco Resources shares last traded at $11.10, with a volume of 506,518 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reduced their target price 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.

Ramaco Resources Price Performance

The stock’s fifty day moving average is $9.63 and its 200-day moving average is $10.69. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.35 and a quick ratio of 0.86. The stock has a market capitalization of $590.69 million, a PE ratio of 17.30 and a beta of 1.17.

Ramaco Resources (NASDAQ:METC) last issued its quarterly earnings results on Monday, March 10th. The energy company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.36). The company had revenue of $170.90 million during 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%. Ramaco Resources’s revenue was down 15.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.24 EPS. As a group, equities analysts predict that Ramaco Resources, Inc. will post 0.05 earnings per share for the current fiscal year.

Ramaco Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a $0.1375 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.55 annualized dividend and a dividend yield of 4.89%. Ramaco Resources’s dividend payout ratio (DPR) 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 stake in Ramaco Resources in the 3rd quarter valued at about $45,000. AlphaQuest LLC purchased a new stake in shares of Ramaco Resources in the fourth quarter valued at approximately $50,000. Campbell Capital Management Inc. acquired a new stake in shares of Ramaco Resources in the fourth quarter valued at approximately $51,000. Finally, Jones Financial Companies Lllp purchased a new stake in Ramaco Resources in the 4th quarter valued at $56,000. 74.49% of the stock is owned by institutional investors and hedge funds.

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.