Ramaco Resources (NASDAQ:METC) PT Lowered to $18.00

Ramaco Resources (NASDAQ:METC) had its target price reduced by B. Riley from $19.00 to $18.00 in a research note released on Tuesday, Benzinga reports. They currently have a buy rating on the energy company’s stock. B. Riley also issued estimates for Ramaco Resources’ Q3 2024 earnings at ($0.07) EPS, Q4 2024 earnings at $0.13 EPS, FY2025 earnings at $1.61 EPS and FY2026 earnings at $1.53 EPS.

Separately, Benchmark reiterated a buy rating and set a $20.00 price objective on shares of Ramaco Resources in a research note on Thursday, August 29th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $16.70.

Ramaco Resources Price Performance

Shares of Ramaco Resources stock opened at $10.14 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 1.33 and a debt-to-equity ratio of 0.23. Ramaco Resources has a twelve month low of $8.72 and a twelve month high of $22.70. The business has a 50-day moving average price of $12.08 and a 200 day moving average price of $13.97. The firm has a market cap of $448.83 million, a PE ratio of 8.67 and a beta of 1.05.

Ramaco Resources (NASDAQ:METC) last posted its quarterly earnings data on Wednesday, August 7th. The energy company reported $0.08 EPS for the quarter, topping the consensus estimate of ($0.15) by $0.23. Ramaco Resources had a return on equity of 16.30% and a net margin of 7.95%. The company had revenue of $155.32 million during the quarter, compared to analyst estimates of $141.66 million. Sell-side analysts predict that Ramaco Resources will post 1.44 earnings per share for the current fiscal year.

Ramaco Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a $0.138 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.55 dividend on an annualized basis and a dividend yield of 5.44%. Ramaco Resources’s dividend payout ratio (DPR) is presently 47.01%.

Institutional Investors Weigh In On Ramaco Resources

A number of large investors have recently made changes to their positions in METC. Vanguard Group Inc. lifted its holdings in shares of Ramaco Resources by 8.9% in the 1st quarter. Vanguard Group Inc. now owns 1,591,146 shares of the energy company’s stock worth $26,795,000 after acquiring an additional 130,593 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Ramaco Resources by 21.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,380,601 shares of the energy company’s stock valued at $17,186,000 after acquiring an additional 245,924 shares in the last quarter. American Century Companies Inc. increased its stake in Ramaco Resources by 14.9% during the second quarter. American Century Companies Inc. now owns 694,615 shares of the energy company’s stock worth $8,648,000 after purchasing an additional 90,014 shares during the period. Millennium Management LLC lifted its position in shares of Ramaco Resources by 22.4% during the second quarter. Millennium Management LLC now owns 435,007 shares of the energy company’s stock worth $5,416,000 after purchasing an additional 79,687 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Ramaco Resources by 5.0% in the second quarter. Bank of New York Mellon Corp now owns 383,422 shares of the energy company’s stock valued at $4,774,000 after purchasing an additional 18,393 shares during the period. 74.49% of the stock is currently owned by hedge funds and other institutional investors.

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.