Traders Purchase Large Volume of Call Options on Ramaco Resources (NASDAQ:METC)

Ramaco Resources, Inc. (NASDAQ:METC) saw some unusual options trading on Tuesday. Stock traders bought 9,354 call options on the stock. This represents an increase of 173% compared to the typical volume of 3,424 call options.

Ramaco Resources Price Performance

Shares of NASDAQ METC opened at $21.39 on Thursday. The company has a current ratio of 1.32, a quick ratio of 0.87 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of -267.38 and a beta of 1.30. Ramaco Resources has a twelve month low of $6.24 and a twelve month high of $24.75. The business has a 50 day simple moving average of $11.22 and a 200-day simple moving average of $10.00.

Ramaco Resources (NASDAQ:METC) last released its earnings results on Monday, May 12th. The energy company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.10. The firm had revenue of $115.61 million during the quarter, compared to analyst estimates of $137.10 million. Ramaco Resources had a negative net margin of 0.05% and a negative return on equity of 0.08%. The firm’s revenue for the quarter was down 22.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.23 earnings per share. As a group, equities research analysts expect that Ramaco Resources will post 0.05 earnings per share for the current year.

Ramaco Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were given a dividend of $0.0688 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend was Friday, May 30th. Ramaco Resources’s dividend payout ratio is presently -350.00%.

Hedge Funds Weigh In On Ramaco Resources

A number of large investors have recently bought and sold shares of the business. Brooklyn Investment Group bought a new position in shares of Ramaco Resources during the first quarter valued at approximately $25,000. Farther Finance Advisors LLC grew its position in shares of Ramaco Resources by 384.0% during the second quarter. Farther Finance Advisors LLC now owns 3,920 shares of the energy company’s stock worth $52,000 after acquiring an additional 3,110 shares during the last quarter. AlphaQuest LLC acquired a new stake in shares of Ramaco Resources in the 4th quarter worth about $50,000. Jones Financial Companies Lllp bought a new stake in Ramaco Resources in the 4th quarter valued at about $56,000. Finally, State of Wyoming bought a new stake in Ramaco Resources in the 1st quarter valued at about $50,000. Institutional investors own 74.49% of the company’s stock.

Analysts Set New Price Targets

METC has been the subject of a number of research analyst reports. Wall Street Zen lowered shares of Ramaco Resources from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. B. Riley decreased their price objective on shares of Ramaco Resources from $18.00 to $14.00 and set a “buy” rating for the company in a report on Friday, April 11th. Benchmark dropped their target price on shares of Ramaco Resources from $18.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday, May 13th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $27.00 price target (up previously from $15.00) on shares of Ramaco Resources in a research report on Wednesday.

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.