Ramaco Resources, Inc. (NASDAQ:METC) Expected to Earn Q3 2024 Earnings of ($0.07) Per Share

Ramaco Resources, Inc. (NASDAQ:METC) – Research analysts at B. Riley decreased their Q3 2024 earnings per share (EPS) estimates for shares of Ramaco Resources in a report issued on Tuesday, September 17th. B. Riley analyst L. Pipes now expects that the energy company will post earnings of ($0.07) per share for the quarter, down from their previous estimate of $0.24. B. Riley currently has a “Buy” rating and a $18.00 price target on the stock. The consensus estimate for Ramaco Resources’ current full-year earnings is $1.44 per share. B. Riley also issued estimates for Ramaco Resources’ Q4 2024 earnings at $0.13 EPS, FY2025 earnings at $1.61 EPS and FY2026 earnings at $1.53 EPS.

Separately, Benchmark reaffirmed a “buy” rating and issued a $20.00 price target on shares of Ramaco Resources in a research report on Thursday, August 29th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.70.

Ramaco Resources Trading Down 0.8 %

Shares of NASDAQ:METC opened at $10.14 on Friday. The company has a current ratio of 1.33, a quick ratio of 0.90 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $448.83 million, a PE ratio of 8.67 and a beta of 1.05. Ramaco Resources has a 1 year low of $8.72 and a 1 year high of $22.70. The firm has a fifty day moving average price of $12.08 and a 200 day moving average price of $13.94.

Ramaco Resources (NASDAQ:METC) last announced its quarterly earnings results on Wednesday, August 7th. The energy company reported $0.08 EPS for the quarter, topping the consensus estimate of ($0.15) by $0.23. The company had revenue of $155.32 million for the quarter, compared to analyst estimates of $141.66 million. Ramaco Resources had a net margin of 7.95% and a return on equity of 16.30%.

Hedge Funds Weigh In On Ramaco Resources

A number of institutional investors have recently made changes to their positions in METC. Innealta Capital LLC bought a new stake in Ramaco Resources during the 2nd quarter valued at approximately $28,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Ramaco Resources in the first quarter worth $93,000. Global Trust Asset Management LLC increased its position in Ramaco Resources by 2,071.7% during the first quarter. Global Trust Asset Management LLC now owns 7,058 shares of the energy company’s stock worth $119,000 after acquiring an additional 6,733 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in Ramaco Resources during the 2nd quarter valued at $94,000. Finally, Oxford Asset Management LLP bought a new stake in Ramaco Resources in the 4th quarter valued at $176,000. 74.49% of the stock is currently owned by institutional investors.

Ramaco Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a $0.138 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.55 annualized dividend and a yield of 5.44%. Ramaco Resources’s dividend payout ratio (DPR) is presently 47.01%.

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.