Ramaco Resources (NASDAQ:METC) Trading Down 5.7% – Here’s Why

Ramaco Resources, Inc. (NASDAQ:METC)’s stock price fell 5.7% during mid-day trading on Wednesday . The company traded as low as $11.98 and last traded at $12.02. 511,477 shares traded hands during trading, a decline of 24% from the average session volume of 675,581 shares. The stock had previously closed at $12.75.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on METC. 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. B. Riley cut their price objective on Ramaco Resources from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th.

Ramaco Resources Trading Down 7.1 %

The stock has a fifty day moving average of $11.64 and a 200 day moving average of $12.20. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.86 and a current ratio of 1.35. The company has a market capitalization of $621.96 million, a PE ratio of 19.62 and a beta of 1.14.

Ramaco Resources (NASDAQ:METC) last posted its quarterly earnings results on Monday, November 4th. The energy company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). The business had revenue of $167.40 million during the quarter, compared to analysts’ expectations of $156.41 million. Ramaco Resources had a return on equity of 10.17% and a net margin of 5.35%. The firm’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.45 earnings per share. As a group, sell-side analysts predict that Ramaco Resources, Inc. will post 0.86 earnings per share for the current fiscal year.

Ramaco Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.1375 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.55 annualized dividend and a dividend yield of 4.65%. Ramaco Resources’s dividend payout ratio (DPR) is 84.62%.

Institutional Trading of Ramaco Resources

Several hedge funds have recently modified their holdings of METC. Wellington Management Group LLP purchased a new stake in shares of Ramaco Resources during the 3rd quarter worth approximately $22,127,000. Dimensional Fund Advisors LP raised its holdings in shares of Ramaco Resources by 21.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,380,601 shares of the energy company’s stock worth $17,186,000 after acquiring an additional 245,924 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Ramaco Resources by 231.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 262,354 shares of the energy company’s stock worth $3,070,000 after acquiring an additional 183,163 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of Ramaco Resources by 287.2% during the 2nd quarter. Marshall Wace LLP now owns 125,565 shares of the energy company’s stock worth $1,563,000 after acquiring an additional 93,139 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in Ramaco Resources by 14.9% during the 2nd quarter. American Century Companies Inc. now owns 694,615 shares of the energy company’s stock valued at $8,648,000 after buying an additional 90,014 shares during the period. 74.49% of the stock is 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.