Ramaco Resources (NASDAQ:METC) Shares Down 5.7% – What’s Next?

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

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Benchmark reiterated a “buy” rating and set a $20.00 target price on shares of Ramaco Resources in a research note on Thursday, August 29th. B. Riley cut their target price on shares of Ramaco Resources from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th.

Ramaco Resources Stock Performance

The firm has a market cap of $631.41 million, a price-to-earnings ratio of 18.38 and a beta of 1.14. The stock’s fifty day moving average is $11.65 and its two-hundred day moving average is $12.20. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.86 and a current ratio of 1.35.

Ramaco Resources (NASDAQ:METC) last released its quarterly earnings results 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). Ramaco Resources had a net margin of 5.35% and a return on equity of 10.17%. The business had revenue of $167.40 million for the quarter, compared to the consensus estimate of $156.41 million. During the same period last year, the firm posted $0.45 EPS. The business’s quarterly revenue was down 10.5% on a year-over-year basis. On average, analysts expect that Ramaco Resources, Inc. will post 0.86 earnings per share for the current fiscal year.

Ramaco Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.1375 dividend. This represents a $0.55 annualized dividend and a yield of 4.58%. The ex-dividend date of this dividend is Monday, December 2nd. Ramaco Resources’s payout ratio is currently 84.62%.

Institutional Trading of Ramaco Resources

A number of institutional investors have recently made changes to their positions in METC. Innealta Capital LLC acquired a new stake in Ramaco Resources in the second quarter worth approximately $28,000. Pingora Partners LLC lifted its holdings in shares of Ramaco Resources by 330.2% in the third quarter. Pingora Partners LLC now owns 3,700 shares of the energy company’s stock valued at $43,000 after buying an additional 2,840 shares during the period. Point72 DIFC Ltd bought a new position in Ramaco Resources during the third quarter valued at about $45,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Ramaco Resources during the second quarter worth about $94,000. Finally, Koss Olinger Consulting LLC bought a new stake in Ramaco Resources in the second quarter worth about $134,000. 74.49% of the stock is owned by institutional investors and hedge funds.

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.