Ramaco Resources (NASDAQ:METC) Shares Gap Up – What’s Next?

Ramaco Resources, Inc. (NASDAQ:METC) shares 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 changing hands.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on METC. Jefferies Financial Group decreased their price objective on shares of Ramaco Resources from $19.00 to $13.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. B. Riley dropped their price objective on shares of Ramaco Resources from $18.00 to $14.00 and set a “buy” rating for the company in a report on Friday, April 11th. Finally, Benchmark restated a “buy” rating on shares of Ramaco Resources in a research report on Wednesday, March 12th.

Ramaco Resources Stock Performance

The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.86 and a current ratio of 1.35. The company has a market cap of $521.64 million, a PE ratio of 14.86 and a beta of 1.14. The business’s 50-day moving average is $8.95 and its 200 day moving average is $10.21.

Ramaco Resources (NASDAQ:METC) last announced its quarterly earnings data on Monday, March 10th. The energy company reported $0.06 earnings per share (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 company had revenue of $170.90 million for the quarter, compared to the consensus estimate of $166.59 million. During the same period last year, the business posted $0.24 earnings per share. The firm’s quarterly revenue was down 15.7% compared to the same quarter last year. On average, equities research analysts predict that Ramaco Resources, Inc. will post 0.05 EPS for the current fiscal year.

Ramaco Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.0688 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.85%. Ramaco Resources’s dividend payout ratio (DPR) is presently 245.45%.

Insider Buying and Selling

In related news, major shareholder Yorktown Energy Partners Xi, L sold 83,871 shares of the firm’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $8.61, for a total value of $722,129.31. Following the sale, the insider now directly owns 1,059,909 shares of the company’s stock, valued at $9,125,816.49. This trade represents a 7.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Peter A. Leidel sold 225,000 shares of the business’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $8.08, for a total value of $1,818,000.00. Following the transaction, the director now owns 677,403 shares in the company, valued at approximately $5,473,416.24. This represents a 24.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 922,582 shares of company stock valued at $7,898,023 over the last three months. 41.20% of the stock is owned by company insiders.

Institutional Trading of Ramaco Resources

Several large investors have recently added to or reduced their stakes in the stock. Harbour Capital Advisors LLC bought a new position in Ramaco Resources in the fourth quarter worth about $540,000. Barclays PLC grew its holdings in shares of Ramaco Resources by 369.7% during the 3rd quarter. Barclays PLC now owns 44,409 shares of the energy company’s stock worth $519,000 after acquiring an additional 34,954 shares during the period. JPMorgan Chase & Co. raised its position in shares of Ramaco Resources by 97.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 68,520 shares of the energy company’s stock worth $802,000 after acquiring an additional 33,788 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Ramaco Resources by 11.0% in the 4th quarter. Principal Financial Group Inc. now owns 38,017 shares of the energy company’s stock worth $390,000 after acquiring an additional 3,754 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in shares of Ramaco Resources in the 4th quarter valued at approximately $224,000. Institutional investors own 74.49% of the company’s stock.

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.