Ramaco Resources, Inc. (NASDAQ:METC) Declares Quarterly Dividend of $0.07

Ramaco Resources, Inc. (NASDAQ:METC) announced a quarterly dividend on Monday, March 17th, RTT News reports. Shareholders of record on Friday, May 30th will be paid a dividend of 0.0688 per share by the energy company on Friday, June 13th. This represents a $0.28 dividend on an annualized basis and a yield of 2.97%.

Ramaco Resources has a payout ratio of 31.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Ramaco Resources to earn $0.49 per share next year, which means the company may not be able to cover its $0.55 annual dividend with an expected future payout ratio of 112.2%.

Ramaco Resources Trading Down 3.2 %

Shares of NASDAQ METC opened at $9.25 on Tuesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.86 and a current ratio of 1.35. The business’s 50 day moving average price is $9.59 and its 200-day moving average price is $10.64. Ramaco Resources has a fifty-two week low of $8.17 and a fifty-two week high of $17.23. The company has a market cap of $485.89 million, a price-to-earnings ratio of 14.23 and a beta of 1.17.

Ramaco Resources (NASDAQ:METC) last issued its quarterly earnings results on Monday, March 10th. The energy company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.36). Ramaco Resources had a return on equity of 10.17% and a net margin of 5.35%. The business had revenue of $170.90 million during the quarter, compared to analysts’ expectations of $166.59 million. During the same quarter in the previous year, the company posted $0.24 earnings per share. The company’s quarterly revenue was down 15.7% compared to the same quarter last year. On average, sell-side analysts expect that Ramaco Resources will post 0.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Benchmark reissued a “buy” rating on shares of Ramaco Resources in a research note on Wednesday, March 12th. Jefferies Financial Group dropped their price objective on Ramaco Resources from $19.00 to $13.00 and set a “buy” rating on the stock in a research note on Monday, January 6th.

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.