Ramaco Resources (NASDAQ:METC) Shares Gap Up – Here’s Why

Shares of Ramaco Resources, Inc. (NASDAQ:METC) gapped up before the market opened on Monday . The stock had previously closed at $9.87, but opened at $10.30. Ramaco Resources shares last traded at $9.71, with a volume of 188,430 shares traded.

Wall Street Analysts Forecast Growth

METC has been the topic of a number of recent analyst reports. Jefferies Financial Group cut their price target on shares of Ramaco Resources from $19.00 to $13.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. B. Riley reduced their target price on Ramaco Resources from $18.00 to $14.00 and set a “buy” rating on the stock in a report on Friday, April 11th. Finally, Benchmark restated a “buy” rating on shares of Ramaco Resources in a research note on Wednesday, March 12th.

Ramaco Resources Stock Down 2.7 %

The firm’s 50-day moving average price is $8.94 and its 200-day moving average price is $10.19. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.35 and a quick ratio of 0.86. The company has a market cap of $497.88 million, a price-to-earnings ratio of 14.18 and a beta of 1.14.

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

Ramaco Resources Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be given a dividend of $0.0688 per share. This represents a $0.28 annualized dividend and a yield of 2.98%. Ramaco Resources’s dividend payout ratio (DPR) is presently 245.45%.

Insiders Place Their Bets

In related news, major shareholder Yorktown Energy Partners Xi, L sold 98,274 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $8.85, for a total value of $869,724.90. Following the completion of the transaction, the insider now owns 1,052,404 shares of the company’s stock, valued at approximately $9,313,775.40. This represents a 8.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Peter A. Leidel sold 225,000 shares of Ramaco Resources stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $8.08, for a total value of $1,818,000.00. Following the sale, the director now owns 677,403 shares in the company, valued at $5,473,416.24. This represents a 24.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 922,582 shares of company stock worth $7,898,023 in the last 90 days. 41.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ramaco Resources

Several institutional investors and hedge funds have recently made changes to their positions in the business. AlphaQuest LLC acquired a new stake in Ramaco Resources in the fourth quarter valued at $50,000. Campbell Capital Management Inc. acquired a new stake in shares of Ramaco Resources in the 4th quarter valued at about $51,000. Jones Financial Companies Lllp bought a new position in shares of Ramaco Resources during the fourth quarter worth about $56,000. BNP Paribas Financial Markets acquired a new position in Ramaco Resources in the fourth quarter worth about $80,000. Finally, Royce & Associates LP bought a new stake in Ramaco Resources in the fourth quarter valued at about $94,000. 74.49% of the stock is currently 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.