Ramaco Resources (NASDAQ:METC) Stock Price Down 11.6% – What’s Next?

Ramaco Resources, Inc. (NASDAQ:METC) fell 11.6% during mid-day trading on Wednesday . The stock traded as low as $10.45 and last traded at $10.27. 221,798 shares were traded during mid-day trading, a decline of 60% from the average session volume of 554,701 shares. The stock had previously closed at $11.62.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Jefferies Financial Group dropped their price objective on Ramaco Resources from $19.00 to $13.00 and set a “buy” rating for the company in a report on Monday, January 6th. Benchmark reaffirmed a “buy” rating on shares of Ramaco Resources in a research note on Wednesday.

Ramaco Resources Price Performance

The company has a debt-to-equity ratio of 0.23, a current ratio of 1.35 and a quick ratio of 0.86. The firm’s 50 day moving average is $9.61 and its 200 day moving average is $10.67. The firm has a market cap of $505.33 million, a P/E ratio of 14.80 and a beta of 1.17.

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). The company had revenue of $170.90 million for the quarter, compared to analysts’ expectations of $166.59 million. Ramaco Resources had a net margin of 5.35% and a return on equity of 10.17%. The firm’s quarterly revenue was down 15.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.24 EPS. As a group, analysts anticipate that Ramaco Resources, Inc. will post 0.05 earnings per share for the current year.

Ramaco Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a $0.1375 dividend. This represents a $0.55 dividend on an annualized basis and a dividend yield of 5.72%. The ex-dividend date is Friday, February 28th. Ramaco Resources’s payout ratio is 500.00%.

Hedge Funds Weigh In On Ramaco Resources

A number of hedge funds have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Ramaco Resources by 3.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 41,656 shares of the energy company’s stock worth $427,000 after acquiring an additional 1,425 shares during the period. Arkfeld Wealth Strategies L.L.C. increased its stake in Ramaco Resources by 0.8% in the 4th quarter. Arkfeld Wealth Strategies L.L.C. now owns 232,755 shares of the energy company’s stock worth $2,251,000 after buying an additional 1,748 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Ramaco Resources by 15.3% in the fourth quarter. Legal & General Group Plc now owns 13,752 shares of the energy company’s stock valued at $141,000 after acquiring an additional 1,822 shares in the last quarter. MetLife Investment Management LLC boosted its stake in shares of Ramaco Resources by 13.9% in the fourth quarter. MetLife Investment Management LLC now owns 16,189 shares of the energy company’s stock worth $166,000 after acquiring an additional 1,970 shares during the period. Finally, New York State Common Retirement Fund boosted its stake in Ramaco Resources by 12.5% in the 4th quarter. New York State Common Retirement Fund now owns 17,988 shares of the energy company’s stock worth $185,000 after purchasing an additional 2,000 shares during the period. Hedge funds and other 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.