Ramaco Resources (NASDAQ:METC) Shares Up 9.5% – Still a Buy?

Ramaco Resources, Inc. (NASDAQ:METC) shares were up 9.5% on Thursday . The stock traded as high as $9.50 and last traded at $9.70. Approximately 127,705 shares traded hands during trading, a decline of 78% from the average daily volume of 571,103 shares. The stock had previously closed at $8.86.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on METC shares. Benchmark reaffirmed a “buy” rating on shares of Ramaco Resources in a research report on Wednesday. Jefferies Financial Group cut their price target on 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 current ratio of 1.35, a quick ratio of 0.86 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $502.18 million, a price-to-earnings ratio of 14.71 and a beta of 1.17. The stock has a 50-day moving average price of $9.61 and a 200 day moving average price of $10.67.

Ramaco Resources (NASDAQ:METC) last posted its earnings results on Monday, March 10th. The energy company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.36). Ramaco Resources had a net margin of 5.35% and a return on equity of 10.17%. The business had revenue of $170.90 million for the quarter, compared to analyst estimates of $166.59 million. During the same quarter last year, the business earned $0.24 earnings per share. Ramaco Resources’s revenue was down 15.7% on a year-over-year basis. As a group, equities research analysts expect that Ramaco Resources, Inc. will post 0.05 earnings per share for the current year.

Ramaco Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.1375 dividend. This represents a $0.55 dividend on an annualized basis and a yield of 5.75%. The ex-dividend date was Friday, February 28th. Ramaco Resources’s dividend payout ratio is presently 500.00%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of METC. Pingora Partners LLC lifted its stake in Ramaco Resources by 330.2% in the 3rd quarter. Pingora Partners LLC now owns 3,700 shares of the energy company’s stock valued at $43,000 after buying an additional 2,840 shares in the last quarter. Point72 DIFC Ltd purchased a new position in Ramaco Resources in the 3rd quarter valued at about $45,000. AlphaQuest LLC purchased a new position in Ramaco Resources in the 4th quarter valued at about $50,000. Campbell Capital Management Inc. purchased a new position in Ramaco Resources in the 4th quarter valued at about $51,000. Finally, Jones Financial Companies Lllp purchased a new position in Ramaco Resources in the 4th quarter valued at about $56,000. 74.49% of the stock is owned by hedge funds and other institutional investors.

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.