Ramaco Resources (NASDAQ:METC) Trading Down 5.2% – Here’s Why

Ramaco Resources, Inc. (NASDAQ:METC) shares fell 5.2% during trading on Friday . The company traded as low as $12.46 and last traded at $12.46. 71,617 shares were traded during trading, a decline of 89% from the average session volume of 679,174 shares. The stock had previously closed at $13.15.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on METC. Benchmark reissued a “buy” rating and issued a $20.00 price objective on shares of Ramaco Resources in a report on Thursday, August 29th. B. Riley dropped their price objective 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 Price Performance

The firm has a market cap of $659.78 million, a PE ratio of 19.32 and a beta of 1.08. The stock has a 50 day simple moving average of $11.17 and a two-hundred day simple moving average of $12.33. 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 announced its quarterly earnings results on Monday, November 4th. The energy company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.01). Ramaco Resources had a net margin of 5.35% and a return on equity of 10.17%. The company had revenue of $167.40 million for the quarter, compared to analysts’ expectations of $156.41 million. During the same quarter in the prior year, the business posted $0.45 earnings per share. The firm’s revenue was down 10.5% compared to the same quarter last year. Sell-side analysts expect that Ramaco Resources, Inc. will post 0.86 earnings per share for the current year.

Ramaco Resources Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.1375 per share. This represents a $0.55 annualized dividend and a dividend yield of 4.38%. The ex-dividend date of this dividend is Monday, December 2nd. Ramaco Resources’s dividend payout ratio (DPR) is 84.62%.

Institutional Trading of Ramaco Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP acquired a new position in shares of Ramaco Resources in the third quarter worth about $22,127,000. Dimensional Fund Advisors LP raised its holdings in Ramaco Resources by 21.7% in the 2nd 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 period. Charles Schwab Investment Management Inc. boosted its position in Ramaco Resources by 231.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 262,354 shares of the energy company’s stock worth $3,070,000 after purchasing an additional 183,163 shares in the last quarter. Vanguard Group Inc. grew its holdings in Ramaco Resources by 8.9% in the first quarter. Vanguard Group Inc. now owns 1,591,146 shares of the energy company’s stock valued at $26,795,000 after purchasing an additional 130,593 shares during the period. Finally, Marshall Wace LLP increased its position in shares of Ramaco Resources by 287.2% in the second quarter. Marshall Wace LLP now owns 125,565 shares of the energy company’s stock valued at $1,563,000 after buying an additional 93,139 shares in the last quarter. Institutional investors and hedge funds 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.