Ramaco Resources (NASDAQ:METC) Shares Gap Up – What’s Next?

Ramaco Resources, Inc. (NASDAQ:METC) gapped up prior to trading on Monday . The stock had previously closed at $9.87, but opened at $10.30. Ramaco Resources shares last traded at $9.71, with a volume of 188,430 shares.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Jefferies Financial Group dropped their price target on shares of Ramaco Resources from $19.00 to $13.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. B. Riley cut their price target on shares of Ramaco Resources from $18.00 to $14.00 and set a “buy” rating on the stock in a report on Friday, April 11th. Finally, Benchmark restated a “buy” rating on shares of Ramaco Resources in a report on Wednesday, March 12th.

Ramaco Resources Price Performance

The firm has a fifty day moving average of $8.95 and a 200 day moving average of $10.21. The company has a current ratio of 1.35, a quick ratio of 0.86 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $521.64 million, a P/E ratio of 14.86 and a beta of 1.14.

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

Ramaco Resources Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be paid a $0.0688 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.85%. Ramaco Resources’s dividend payout ratio (DPR) is currently 245.45%.

Insider Activity at Ramaco Resources

In related news, Director Peter A. Leidel sold 245,000 shares of the business’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 transaction of $2,168,250.00. Following the completion of the sale, the director now directly owns 695,601 shares in the company, valued at approximately $6,156,068.85. The trade was a 26.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Yorktown Energy Partners Xi, L sold 98,274 shares of Ramaco Resources stock in a transaction on Monday, March 24th. The stock was sold at an average price of $8.85, for a total transaction of $869,724.90. Following the transaction, the insider now owns 1,052,404 shares in the company, valued at $9,313,775.40. This represents a 8.54 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 922,582 shares of company stock worth $7,898,023. 41.20% of the stock is owned by insiders.

Institutional Trading of Ramaco Resources

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Harbour Capital Advisors LLC purchased a new position in shares of Ramaco Resources during the 4th quarter valued at about $540,000. Barclays PLC raised its stake in Ramaco Resources by 369.7% during the 3rd quarter. Barclays PLC now owns 44,409 shares of the energy company’s stock worth $519,000 after acquiring an additional 34,954 shares during the period. JPMorgan Chase & Co. lifted its holdings in Ramaco Resources by 97.3% during the third quarter. JPMorgan Chase & Co. now owns 68,520 shares of the energy company’s stock valued at $802,000 after purchasing an additional 33,788 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Ramaco Resources by 11.0% in the fourth quarter. Principal Financial Group Inc. now owns 38,017 shares of the energy company’s stock worth $390,000 after purchasing an additional 3,754 shares during the period. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Ramaco Resources in the fourth quarter worth $224,000. Hedge funds and other institutional investors own 74.49% of the company’s stock.

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.