Ramaco Resources (NASDAQ:METC) Trading Down 5.7% – Here’s Why

Ramaco Resources, Inc. (NASDAQ:METC)’s stock price dropped 5.7% on Wednesday . The stock traded as low as $11.98 and last traded at $12.02. Approximately 511,477 shares were traded during trading, a decline of 24% from the average daily volume of 675,581 shares. The stock had previously closed at $12.75.

Analysts Set New Price Targets

METC has been the topic of several recent research reports. B. Riley decreased their price target on Ramaco Resources from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. Benchmark restated a “buy” rating and set a $20.00 price target on shares of Ramaco Resources in a report on Thursday, August 29th.

Ramaco Resources Stock Down 7.1 %

The company has a current ratio of 1.35, a quick ratio of 0.86 and a debt-to-equity ratio of 0.23. The business has a 50-day moving average price of $11.64 and a 200-day moving average price of $12.20. The firm has a market cap of $621.96 million, a P/E ratio of 19.62 and a beta of 1.14.

Ramaco Resources (NASDAQ:METC) last issued its quarterly earnings data on Monday, November 4th. The energy company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). The company had revenue of $167.40 million for the quarter, compared to analysts’ expectations of $156.41 million. Ramaco Resources had a return on equity of 10.17% and a net margin of 5.35%. The company’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.45 earnings per share. On average, equities analysts forecast that Ramaco Resources, Inc. will post 0.86 EPS for the current fiscal year.

Ramaco Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.1375 dividend. This represents a $0.55 dividend on an annualized basis and a yield of 4.65%. The ex-dividend date is Monday, December 2nd. Ramaco Resources’s dividend payout ratio (DPR) is presently 84.62%.

Institutional Investors Weigh In On Ramaco Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP purchased a new position in shares of Ramaco Resources in the third quarter worth about $22,127,000. Dimensional Fund Advisors LP raised its stake in shares of Ramaco Resources by 21.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,380,601 shares of the energy company’s stock worth $17,186,000 after purchasing an additional 245,924 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Ramaco Resources by 14.9% in the second quarter. American Century Companies Inc. now owns 694,615 shares of the energy company’s stock worth $8,648,000 after purchasing an additional 90,014 shares during the last quarter. Millennium Management LLC raised its stake in shares of Ramaco Resources by 22.4% in the second quarter. Millennium Management LLC now owns 435,007 shares of the energy company’s stock worth $5,416,000 after purchasing an additional 79,687 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Ramaco Resources by 5.0% in the second quarter. Bank of New York Mellon Corp now owns 383,422 shares of the energy company’s stock worth $4,774,000 after purchasing an additional 18,393 shares during the last quarter. 74.49% of the stock is currently owned by hedge funds and other institutional investors.

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.