Ramaco Resources (NASDAQ:METC) Shares Up 3.6%

Shares of Ramaco Resources, Inc. (NASDAQ:METC) were up 3.6% during trading on Wednesday . The company traded as high as $16.92 and last traded at $16.75. Approximately 208,102 shares changed hands during trading, a decline of 78% from the average daily volume of 950,261 shares. The stock had previously closed at $16.17.

Analysts Set New Price Targets

A number of analysts have commented on METC shares. B. Riley decreased their price target on shares of Ramaco Resources from $25.00 to $24.00 and set a “buy” rating for the company in a research note on Monday. UBS Group started coverage on shares of Ramaco Resources in a research note on Tuesday, January 16th. They set a “neutral” rating and a $21.00 price target for the company. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Ramaco Resources presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.90.

Ramaco Resources Stock Performance

The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.90 and a current ratio of 1.12. The stock has a market cap of $691.78 million, a P/E ratio of 8.99 and a beta of 1.15. The company’s 50 day moving average price is $17.24 and its 200-day moving average price is $16.35.

Ramaco Resources (NASDAQ:METC) last posted its earnings results on Thursday, March 7th. The energy company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.07). Ramaco Resources had a return on equity of 24.28% and a net margin of 11.87%. The firm had revenue of $202.73 million during the quarter, compared to the consensus estimate of $182.60 million. Equities analysts forecast that Ramaco Resources, Inc. will post 1.59 EPS for the current fiscal year.

Ramaco Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.138 dividend. This is a positive change from Ramaco Resources’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.55 annualized dividend and a dividend yield of 3.53%. Ramaco Resources’s dividend payout ratio is presently 31.61%.

Hedge Funds Weigh In On Ramaco Resources

Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its position in Ramaco Resources by 6.7% during the second quarter. BlackRock Inc. now owns 1,653,575 shares of the energy company’s stock valued at $13,956,000 after buying an additional 103,813 shares during the period. Vanguard Group Inc. grew its position in Ramaco Resources by 15.4% during the third quarter. Vanguard Group Inc. now owns 1,477,720 shares of the energy company’s stock valued at $13,595,000 after buying an additional 197,224 shares during the period. Dimensional Fund Advisors LP grew its position in Ramaco Resources by 32.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 988,987 shares of the energy company’s stock valued at $16,991,000 after buying an additional 243,692 shares during the period. JPMorgan Chase & Co. grew its position in Ramaco Resources by 533.0% during the first quarter. JPMorgan Chase & Co. now owns 959,504 shares of the energy company’s stock valued at $15,160,000 after buying an additional 807,921 shares during the period. Finally, Point72 Asset Management L.P. bought a new position in Ramaco Resources during the fourth quarter valued at about $15,488,000. Institutional investors 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.