Ramaco Resources (NASDAQ:METC) Price Target Cut to $14.00 by Analysts at Benchmark

Ramaco Resources (NASDAQ:METC) had its price objective lowered by Benchmark from $18.00 to $14.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the energy company’s stock.

Separately, B. Riley lowered their price objective on shares of Ramaco Resources from $18.00 to $14.00 and set a “buy” rating for the company in a research report on Friday, April 11th.

Ramaco Resources Stock Performance

Ramaco Resources stock opened at $9.90 on Tuesday. The firm has a 50 day simple moving average of $9.01 and a 200-day simple moving average of $10.08. Ramaco Resources has a 1-year low of $6.30 and a 1-year high of $15.49. 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 stock has a market cap of $439.64 million, a price-to-earnings ratio of 15.23 and a beta of 1.28.

Ramaco Resources (NASDAQ:METC) last posted its quarterly earnings results on Monday, May 12th. The energy company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.10. The business had revenue of $115.61 million during the quarter, compared to analysts’ expectations of $137.10 million. Ramaco Resources had a net margin of 5.35% and a return on equity of 10.17%. The business’s revenue for the quarter was down 22.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.23 EPS. On average, analysts expect that Ramaco Resources will post 0.05 EPS for the current year.

Ramaco Resources Cuts Dividend

The business also recently disclosed 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. The ex-dividend date is Friday, May 30th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.78%. Ramaco Resources’s payout ratio is currently 245.45%.

Insider Buying and Selling

In other Ramaco Resources news, major shareholder Yorktown Energy Partners Xi, L sold 98,274 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $8.85, for a total transaction of $869,724.90. Following the sale, the insider now directly owns 1,052,404 shares in the company, valued at $9,313,775.40. This represents a 8.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Peter A. Leidel sold 245,000 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $8.85, for a total transaction of $2,168,250.00. Following the sale, the director now owns 695,601 shares in the company, valued at approximately $6,156,068.85. This trade represents a 26.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 922,582 shares of company stock valued at $7,898,023. Company insiders own 41.20% of the company’s stock.

Institutional Investors Weigh In On Ramaco Resources

A number of hedge funds have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Ramaco Resources by 3.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 41,656 shares of the energy company’s stock worth $427,000 after buying an additional 1,425 shares in the last quarter. Arkfeld Wealth Strategies L.L.C. lifted its holdings in Ramaco Resources by 0.8% during the 4th quarter. Arkfeld Wealth Strategies L.L.C. now owns 232,755 shares of the energy company’s stock worth $2,251,000 after buying an additional 1,748 shares in the last quarter. Legal & General Group Plc lifted its holdings in Ramaco Resources by 15.3% during the 4th quarter. Legal & General Group Plc now owns 13,752 shares of the energy company’s stock worth $141,000 after buying an additional 1,822 shares in the last quarter. MetLife Investment Management LLC raised its holdings in shares of Ramaco Resources by 13.9% in the 4th quarter. MetLife Investment Management LLC now owns 16,189 shares of the energy company’s stock valued at $166,000 after purchasing an additional 1,970 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its position in shares of Ramaco Resources by 12.5% during the 4th quarter. New York State Common Retirement Fund now owns 17,988 shares of the energy company’s stock worth $185,000 after purchasing an additional 2,000 shares during the last quarter. 74.49% of the stock is currently owned by institutional investors and hedge funds.

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.