Ramaco Resources, Inc. (NASDAQ:METC – Get Free Report) declared a quarterly dividend on Wednesday, May 8th, Zacks reports. Stockholders of record on Saturday, June 1st will be given a dividend of 0.138 per share by the energy company on Saturday, June 15th. This represents a $0.55 annualized dividend and a dividend yield of 4.27%. The ex-dividend date is Friday, May 31st.
Ramaco Resources has a dividend payout ratio of 26.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Ramaco Resources to earn $2.13 per share next year, which means the company should continue to be able to cover its $0.55 annual dividend with an expected future payout ratio of 25.8%.
Ramaco Resources Stock Performance
Shares of Ramaco Resources stock traded down $0.37 on Friday, hitting $12.93. The stock had a trading volume of 397,503 shares, compared to its average volume of 892,061. Ramaco Resources has a twelve month low of $7.26 and a twelve month high of $22.70. The business’s 50 day moving average is $16.53 and its two-hundred day moving average is $16.87. The company has a quick ratio of 0.90, a current ratio of 1.12 and a debt-to-equity ratio of 0.10. The stock has a market cap of $572.32 million, a price-to-earnings ratio of 7.48 and a beta of 1.15.
Analysts Set New Price Targets
METC has been the subject of several analyst reports. B. Riley lowered their target price on Ramaco Resources from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Friday. UBS Group initiated coverage on Ramaco Resources in a report on Tuesday, January 16th. They set a “neutral” rating and a $21.00 price target for the company. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Ramaco Resources presently has an average rating of “Moderate Buy” and an average target price of $17.50.
Read Our Latest Analysis on Ramaco Resources
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.
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