Ramaco Resources, Inc. Forecasted to Earn Q2 2024 Earnings of $0.04 Per Share (NASDAQ:METC)

Ramaco Resources, Inc. (NASDAQ:METC) – Stock analysts at B. Riley lowered their Q2 2024 earnings per share (EPS) estimates for Ramaco Resources in a research note issued to investors on Monday, April 15th. B. Riley analyst L. Pipes now anticipates that the energy company will post earnings per share of $0.04 for the quarter, down from their previous estimate of $0.43. B. Riley currently has a “Buy” rating and a $24.00 target price on the stock. The consensus estimate for Ramaco Resources’ current full-year earnings is $2.37 per share. B. Riley also issued estimates for Ramaco Resources’ Q3 2024 earnings at $0.58 EPS, Q4 2024 earnings at $0.66 EPS and FY2024 earnings at $1.50 EPS.

Ramaco Resources (NASDAQ:METC) last announced its quarterly earnings data 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). Ramaco Resources had a net margin of 11.87% and a return on equity of 24.28%. The company had revenue of $202.73 million during the quarter, compared to analysts’ expectations of $182.60 million.

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

Ramaco Resources Stock Down 4.2 %

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

Institutional Investors Weigh In On Ramaco Resources

Several hedge funds and other institutional investors have recently bought and sold shares of METC. JPMorgan Chase & Co. boosted its position in shares of Ramaco Resources by 533.0% in the 1st quarter. JPMorgan Chase & Co. now owns 959,504 shares of the energy company’s stock valued at $15,160,000 after purchasing an additional 807,921 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Ramaco Resources by 103.5% in the first quarter. Bank of New York Mellon Corp now owns 72,164 shares of the energy company’s stock valued at $1,140,000 after acquiring an additional 36,707 shares during the period. Citigroup Inc. grew its position in shares of Ramaco Resources by 87.3% during the first quarter. Citigroup Inc. now owns 37,405 shares of the energy company’s stock worth $591,000 after acquiring an additional 17,435 shares during the last quarter. Bank of Montreal Can acquired a new position in shares of Ramaco Resources in the 1st quarter valued at $243,000. Finally, BlackRock Inc. increased its holdings in shares of Ramaco Resources by 16.8% in the 1st quarter. BlackRock Inc. now owns 195,732 shares of the energy company’s stock valued at $3,093,000 after acquiring an additional 28,112 shares during the period. 74.49% of the stock is currently owned by institutional investors and hedge funds.

Ramaco Resources Increases Dividend

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