Ramaco Resources (NASDAQ:METC) Trading Up 7% – Should You Buy?

Ramaco Resources, Inc. (NASDAQ:METC)’s stock price traded up 7% during mid-day trading on Wednesday . The company traded as high as $9.55 and last traded at $9.52. 715,284 shares changed hands during mid-day trading, an increase of 21% from the average session volume of 591,693 shares. The stock had previously closed at $8.90.

Wall Street Analysts Forecast Growth

METC has been the topic of several recent analyst reports. B. Riley lowered their price target on Ramaco Resources from $18.00 to $14.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. Benchmark restated a “buy” rating on shares of Ramaco Resources in a research report on Wednesday, March 12th. Finally, Jefferies Financial Group reduced their target price on shares of Ramaco Resources from $19.00 to $13.00 and set a “buy” rating for the company in a research report on Monday, January 6th.

Ramaco Resources Stock Performance

The stock has a 50 day simple moving average of $8.96 and a 200 day simple moving average of $10.24. The stock has a market cap of $532.98 million, a P/E ratio of 15.18 and a beta of 1.14. The company has a current ratio of 1.35, a quick ratio of 0.86 and a debt-to-equity ratio of 0.23.

Ramaco Resources (NASDAQ:METC) last announced its quarterly earnings data on Monday, March 10th. The energy company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.36). Ramaco Resources had a return on equity of 10.17% and a net margin of 5.35%. The firm had revenue of $170.90 million for the quarter, compared to analyst estimates of $166.59 million. During the same quarter in the previous year, the company earned $0.24 earnings per share. The company’s quarterly revenue was down 15.7% on a year-over-year basis. On average, equities analysts expect that Ramaco Resources, Inc. will post 0.05 earnings per share for the current year.

Ramaco Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be given a dividend of $0.0688 per share. This represents a $0.28 annualized dividend and a dividend yield of 2.79%. Ramaco Resources’s dividend payout ratio is currently 245.45%.

Insider Buying and Selling at Ramaco Resources

In other Ramaco Resources news, Director Peter A. Leidel sold 225,000 shares of the stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $8.08, for a total value of $1,818,000.00. Following the completion of the transaction, the director now directly owns 677,403 shares in the company, valued at approximately $5,473,416.24. This trade represents a 24.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Yorktown Energy Partners Xi, L sold 98,274 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $8.85, for a total value of $869,724.90. Following the completion of the transaction, the insider now directly owns 1,052,404 shares of the company’s stock, valued at $9,313,775.40. This represents a 8.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 922,582 shares of company stock worth $7,898,023 over the last 90 days. Insiders own 41.20% of the company’s stock.

Hedge Funds Weigh In On Ramaco Resources

A number of hedge funds have recently modified their holdings of METC. AlphaQuest LLC acquired a new position in Ramaco Resources during the 4th quarter worth about $50,000. Campbell Capital Management Inc. bought a new stake in Ramaco Resources in the fourth quarter valued at approximately $51,000. Jones Financial Companies Lllp acquired a new stake in Ramaco Resources during the 4th quarter valued at approximately $56,000. BNP Paribas Financial Markets acquired a new position in shares of Ramaco Resources in the 4th quarter worth approximately $80,000. Finally, Royce & Associates LP bought a new stake in shares of Ramaco Resources in the 4th quarter valued at $94,000. Institutional investors and hedge funds 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.