Q1 2024 EPS Estimates for Ramaco Resources, Inc. Decreased by B. Riley (NASDAQ:METC)

Ramaco Resources, Inc. (NASDAQ:METC) – B. Riley reduced their Q1 2024 earnings estimates for shares of Ramaco Resources in a research report issued to clients and investors on Monday, April 15th. B. Riley analyst L. Pipes now forecasts that the energy company will earn $0.22 per share for the quarter, down from their prior estimate of $0.32. B. Riley has a “Buy” rating and a $24.00 price objective on the stock. The consensus estimate for Ramaco Resources’ current full-year earnings is $2.37 per share.

Separately, UBS Group initiated coverage on Ramaco Resources in a research note on Tuesday, January 16th. They issued a “neutral” rating and a $21.00 price target on the stock. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $17.90.

Ramaco Resources Stock Down 4.2 %

Shares of Ramaco Resources stock opened at $15.65 on Wednesday. The stock’s 50-day moving average is $17.24 and its 200 day moving average is $16.35. Ramaco Resources has a one year low of $7.26 and a one year high of $22.70. The firm has a market cap of $692.67 million, a price-to-earnings ratio of 8.99 and a beta of 1.15. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.12 and a quick ratio of 0.90.

Ramaco Resources (NASDAQ:METC) last released its earnings results on Thursday, March 7th. The energy company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.07). The firm had revenue of $202.73 million during the quarter, compared to analyst estimates of $182.60 million. Ramaco Resources had a net margin of 11.87% and a return on equity of 24.28%.

Institutional Investors Weigh In On Ramaco Resources

A number of hedge funds have recently added to or reduced their stakes in METC. Brandywine Global Investment Management LLC bought a new stake in shares of Ramaco Resources during the third quarter worth about $1,450,000. Jump Financial LLC purchased a new stake in shares of Ramaco Resources in the third quarter worth approximately $397,000. Swiss National Bank raised its stake in shares of Ramaco Resources by 9.3% in the third quarter. Swiss National Bank now owns 63,500 shares of the energy company’s stock worth $698,000 after purchasing an additional 5,400 shares during the last quarter. Global Retirement Partners LLC bought a new position in shares of Ramaco Resources in the fourth quarter valued at approximately $36,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Ramaco Resources during the third quarter valued at approximately $145,000. Institutional investors and hedge funds own 74.49% of the company’s stock.

Ramaco Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.138 per share. This represents a $0.55 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date of this dividend was Thursday, February 29th. This is a boost from Ramaco Resources’s previous quarterly dividend of $0.13. Ramaco Resources’s dividend payout ratio is 31.61%.

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.