Ramaco Resources (NASDAQ:METC) Shares Down 3.3% – Should You Sell?

Ramaco Resources, Inc. (NASDAQ:METC) shares dropped 3.3% during trading on Friday . The stock traded as low as $10.30 and last traded at $10.36. Approximately 41,104 shares were traded during trading, a decline of 78% from the average daily volume of 189,024 shares. The stock had previously closed at $10.71.

Analysts Set New Price Targets

Separately, B. Riley decreased their price target on Ramaco Resources from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th.

Ramaco Resources Price Performance

The firm has a market cap of $544.20 million, a P/E ratio of 15.94 and a beta of 1.18. 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 business’s 50 day moving average is $11.55 and its two-hundred day moving average is $11.89.

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

Ramaco Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a dividend of $0.1375 per share. This represents a $0.55 dividend on an annualized basis and a dividend yield of 5.31%. The ex-dividend date of this dividend was Monday, December 2nd. Ramaco Resources’s payout ratio is 84.62%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Pingora Partners LLC increased its stake in 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 purchasing an additional 2,840 shares in the last quarter. Point72 DIFC Ltd bought a new stake in Ramaco Resources in the 3rd quarter valued at about $45,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Ramaco Resources during the 2nd quarter worth approximately $94,000. Koss Olinger Consulting LLC bought a new position in Ramaco Resources in the second quarter worth approximately $134,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Ramaco Resources in the second quarter valued at approximately $139,000. Institutional investors and hedge funds own 74.49% of the company’s stock.

Ramaco Resources Company Profile

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.