Ramaco Resources (NASDAQ:METC) Trading 6.1% Higher After Dividend Announcement

Shares of Ramaco Resources, Inc. (NASDAQ:METC) were up 6.1% during trading on Wednesday following a dividend announcement from the company. The stock traded as high as $13.14 and last traded at $13.10. Approximately 94,257 shares changed hands during trading, a decline of 86% from the average daily volume of 676,786 shares. The stock had previously closed at $12.35.

The newly announced 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 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date is Monday, December 2nd. Ramaco Resources’s dividend payout ratio (DPR) is 84.62%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. B. Riley reduced their price target on Ramaco Resources from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. Benchmark reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Ramaco Resources in a report on Thursday, August 29th.

Ramaco Resources Price Performance

The business has a 50-day simple moving average of $11.27 and a two-hundred day simple moving average of $12.27. The company has a quick ratio of 0.86, a current ratio of 1.35 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $670.81 million, a price-to-earnings ratio of 19.00 and a beta of 1.08.

Ramaco Resources (NASDAQ:METC) last announced its quarterly earnings data 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). The firm had revenue of $167.40 million during the quarter, compared to analyst estimates of $156.41 million. Ramaco Resources had a net margin of 5.35% and a return on equity of 10.17%. The company’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.45 EPS. As a group, research analysts predict that Ramaco Resources, Inc. will post 0.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ramaco Resources

Large investors have recently made changes to their positions in the business. Innealta Capital LLC bought a new stake in shares of Ramaco Resources in the 2nd quarter worth approximately $28,000. Pingora Partners LLC increased 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 in the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Ramaco Resources during the 3rd quarter valued at $45,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Ramaco Resources during the 2nd quarter worth $94,000. Finally, Koss Olinger Consulting LLC acquired a new position in shares of Ramaco Resources in the 2nd quarter worth $134,000. Institutional investors 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.