Ramaco Resources (NASDAQ:METC) Stock Price Up 11.1% – Here’s What Happened

Ramaco Resources, Inc. (NASDAQ:METC) shares rose 11.1% on Wednesday . The company traded as high as $14.21 and last traded at $14.07. Approximately 135,005 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 672,886 shares. The stock had previously closed at $12.66.

Wall Street Analyst Weigh In

METC has been the topic of several research analyst reports. Benchmark reiterated a “buy” rating and issued a $20.00 target price on shares of Ramaco Resources in a research report on Thursday, August 29th. B. Riley dropped their target price on shares of Ramaco Resources from $19.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th.

Ramaco Resources Stock Up 10.8 %

The stock has a market capitalization of $737.00 million, a price-to-earnings ratio of 21.65 and a beta of 1.14. The business’s 50-day moving average is $11.51 and its two-hundred day moving average is $12.26. The company has a quick ratio of 0.86, a current ratio of 1.35 and a debt-to-equity ratio of 0.23.

Ramaco Resources (NASDAQ:METC) last issued its earnings results on Monday, November 4th. The energy company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). The firm had revenue of $167.40 million for the quarter, compared to analysts’ expectations of $156.41 million. Ramaco Resources had a return on equity of 10.17% and a net margin of 5.35%. Ramaco Resources’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same period last year, the firm earned $0.45 earnings per share. Equities analysts anticipate that Ramaco Resources, Inc. will post 0.86 EPS for the current year.

Ramaco Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $0.1375 per share. This represents a $0.55 annualized dividend and a yield of 3.92%. The ex-dividend date of this dividend is Monday, December 2nd. Ramaco Resources’s payout ratio is currently 84.62%.

Institutional Investors Weigh In On Ramaco Resources

Large investors have recently added to or reduced their stakes in the business. Innealta Capital LLC acquired a new position in shares of Ramaco Resources in the 2nd quarter valued at $28,000. Pingora Partners LLC lifted its position 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 during the period. Point72 DIFC Ltd purchased a new stake in shares of Ramaco Resources in the third quarter valued at approximately $45,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Ramaco Resources during the second quarter worth about $94,000. Finally, Koss Olinger Consulting LLC purchased a new position in Ramaco Resources in the 2nd quarter valued at approximately $134,000. 74.49% of the stock is owned by hedge funds and other institutional investors.

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.