Ramaco Resources (NASDAQ:METC) Trading 7.2% Higher – Time to Buy?

Ramaco Resources, Inc. (NASDAQ:METC)’s share price was up 7.2% during mid-day trading on Monday . The stock traded as high as $10.36 and last traded at $10.30. Approximately 242,865 shares were traded during mid-day trading, a decline of 46% from the average daily volume of 451,364 shares. The stock had previously closed at $9.61.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group lowered their price objective on Ramaco Resources from $19.00 to $13.00 and set a “buy” rating for the company in a research note on Monday, January 6th.

Ramaco Resources Price Performance

The business has a fifty day simple moving average of $10.35 and a 200-day simple moving average of $11.10. 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 stock has a market capitalization of $540.01 million, a P/E ratio of 15.82 and a beta of 1.16.

Ramaco Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors 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 5.35%. The ex-dividend date of this dividend is Friday, February 28th. Ramaco Resources’s dividend payout ratio is currently 84.62%.

Hedge Funds Weigh In On Ramaco Resources

Large investors have recently bought and sold shares of the stock. Wellington Management Group LLP purchased a new stake in shares of Ramaco Resources during the 3rd quarter valued at $22,127,000. Discovery Capital Management LLC CT purchased a new stake in shares of Ramaco Resources during the 4th quarter valued at $9,289,000. Charles Schwab Investment Management Inc. increased its position 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 valued at $3,070,000 after purchasing an additional 183,163 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Ramaco Resources by 42.1% during the 4th quarter. Bank of New York Mellon Corp now owns 524,009 shares of the energy company’s stock valued at $5,376,000 after purchasing an additional 155,169 shares during the last quarter. Finally, Acuitas Investments LLC increased its position in shares of Ramaco Resources by 153.1% during the 4th quarter. Acuitas Investments LLC now owns 152,097 shares of the energy company’s stock valued at $1,561,000 after purchasing an additional 92,008 shares during the last quarter. 74.49% of the stock is currently owned by 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.