Ramaco Resources (NASDAQ:METC) Stock Price Down 2.4%

Shares of Ramaco Resources, Inc. (NASDAQ:METC) dropped 2.4% on Tuesday . The stock traded as low as $14.87 and last traded at $14.89. Approximately 39,989 shares changed hands during trading, a decline of 95% from the average daily volume of 790,147 shares. The stock had previously closed at $15.25.

Wall Street Analyst Weigh In

METC has been the topic of several recent analyst reports. B. Riley cut their price objective on shares of Ramaco Resources from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, May 10th. Benchmark cut their price objective on shares of Ramaco Resources from $24.00 to $20.00 and set a “buy” rating on the stock in a report on Friday, May 10th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $17.50.

Ramaco Resources Price Performance

The firm has a market cap of $664.34 million, a price-to-earnings ratio of 13.03 and a beta of 1.09. The business’s 50-day moving average price is $13.57 and its two-hundred day moving average price is $16.19. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.23 and a quick ratio of 0.95.

Ramaco Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, June 15th. Shareholders of record on Saturday, June 1st were paid a dividend of $0.138 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.55 annualized dividend and a yield of 3.68%. Ramaco Resources’s payout ratio is 47.01%.

Insider Buying and Selling at Ramaco Resources

In other Ramaco Resources news, General Counsel Evan H. Jenkins bought 7,158 shares of the stock in a transaction on Wednesday, May 29th. The stock was purchased at an average price of $13.97 per share, for a total transaction of $99,997.26. Following the completion of the purchase, the general counsel now directly owns 23,480 shares in the company, valued at $328,015.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 45.98% of the stock is owned by insiders.

Hedge Funds Weigh In On Ramaco Resources

Several institutional investors have recently modified their holdings of METC. Archer Investment Corp bought a new position in shares of Ramaco Resources during the fourth quarter worth about $26,000. Global Retirement Partners LLC bought a new position in shares of Ramaco Resources during the fourth quarter worth about $36,000. AJOVista LLC bought a new position in shares of Ramaco Resources during the fourth quarter worth about $69,000. Tower Research Capital LLC TRC grew its position in shares of Ramaco Resources by 48,333.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,359 shares of the energy company’s stock worth $75,000 after acquiring an additional 4,350 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Ramaco Resources during the first quarter worth about $93,000. Institutional investors 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.