Ramaco Resources (NASDAQ:METC) Shares Gap Up – Here’s What Happened

Ramaco Resources, Inc. (NASDAQ:METC)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $8.40, but opened at $9.15. Ramaco Resources shares last traded at $11.10, with a volume of 506,518 shares trading hands.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Benchmark reaffirmed a “buy” rating on shares of Ramaco Resources in a research note on Wednesday. Jefferies Financial Group reduced 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 report on Monday, January 6th.

Ramaco Resources Price Performance

The company has a quick ratio of 0.86, a current ratio of 1.35 and a debt-to-equity ratio of 0.23. The firm’s 50-day moving average is $9.66 and its 200-day moving average is $10.69. The company has a market cap of $465.41 million, a PE ratio of 13.63 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 for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.36). The business had revenue of $170.90 million during the quarter, compared to analysts’ expectations of $166.59 million. Ramaco Resources had a return on equity of 10.17% and a net margin of 5.35%. Ramaco Resources’s revenue for the quarter was down 15.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.24 EPS. On average, equities analysts anticipate that Ramaco Resources, Inc. will post 0.05 EPS for the current year.

Ramaco Resources Dividend Announcement

The firm also recently disclosed 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 yield of 6.21%. The ex-dividend date is Friday, February 28th. Ramaco Resources’s dividend payout ratio (DPR) is presently 84.62%.

Institutional Investors Weigh In On Ramaco Resources

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP bought a new position in shares of Ramaco Resources in the third quarter worth approximately $22,127,000. Dimensional Fund Advisors LP lifted its stake in shares of Ramaco Resources by 8.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,745,409 shares of the energy company’s stock worth $17,907,000 after buying an additional 142,423 shares in the last quarter. Discovery Capital Management LLC CT bought a new position in shares of Ramaco Resources in the fourth quarter worth approximately $9,289,000. American Century Companies Inc. lifted its stake in shares of Ramaco Resources by 10.8% in the fourth quarter. American Century Companies Inc. now owns 870,957 shares of the energy company’s stock worth $8,936,000 after buying an additional 84,734 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in shares of Ramaco Resources by 39.0% in the fourth quarter. Wells Fargo & Company MN now owns 797,283 shares of the energy company’s stock worth $8,180,000 after buying an additional 223,682 shares in the last quarter. 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.