Q3 2024 EPS Estimates for Ramaco Resources, Inc. Lowered by B. Riley (NASDAQ:METC)

Ramaco Resources, Inc. (NASDAQ:METC) – Research analysts at B. Riley decreased their Q3 2024 earnings per share estimates for shares of Ramaco Resources in a research report issued on Tuesday, September 17th. B. Riley analyst L. Pipes now expects that the energy company will earn ($0.07) per share for the quarter, down from their previous estimate of $0.24. B. Riley has a “Buy” rating and a $18.00 price objective 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.

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

Separately, Benchmark reissued a “buy” rating and issued a $20.00 price target on shares of Ramaco Resources in a research note on Thursday, August 29th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Ramaco Resources currently has a consensus rating of “Moderate Buy” and an average price target of $16.70.

Ramaco Resources Stock Performance

METC stock opened at $10.14 on Friday. The business’s fifty day moving average is $12.08 and its 200-day moving average is $13.97. The company has a quick ratio of 0.90, a current ratio of 1.33 and a debt-to-equity ratio of 0.23. The company has a market cap of $448.83 million, a P/E ratio of 8.67 and a beta of 1.05. Ramaco Resources has a twelve month low of $8.72 and a twelve month high of $22.70.

Institutional Trading of Ramaco Resources

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Ramaco Resources by 8.9% during the 1st quarter. Vanguard Group Inc. now owns 1,591,146 shares of the energy company’s stock worth $26,795,000 after buying an additional 130,593 shares during the period. Dimensional Fund Advisors LP raised its stake in Ramaco Resources by 21.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,380,601 shares of the energy company’s stock worth $17,186,000 after buying an additional 245,924 shares during the period. American Century Companies Inc. raised its stake in Ramaco Resources by 14.9% during the 2nd quarter. American Century Companies Inc. now owns 694,615 shares of the energy company’s stock worth $8,648,000 after buying an additional 90,014 shares during the period. Millennium Management LLC increased its holdings in Ramaco Resources by 22.4% during the 2nd 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 in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Ramaco Resources by 5.0% during the 2nd 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 in the last quarter. Institutional investors and hedge funds own 74.49% of the company’s stock.

Ramaco Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a dividend of $0.138 per share. This represents a $0.55 annualized dividend and a yield of 5.44%. The ex-dividend date of this dividend was Friday, August 30th. Ramaco Resources’s payout ratio 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.