Ramaco Resources (NASDAQ:METC) Shares Gap Up - Here's What Happened

Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report) 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 traded.

Analyst Ratings Changes

A number of research firms have weighed in on METC. Jefferies Financial Group reduced their price objective on Ramaco Resources from $19.00 to $13.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Benchmark restated a "buy" rating on shares of Ramaco Resources in a research report on Wednesday, March 12th. Finally, B. Riley lowered their price objective on Ramaco Resources from $18.00 to $14.00 and set a "buy" rating on the stock in a research report on Friday, April 11th.

Ramaco Resources Stock Performance

The company has a current ratio of 1.35, a quick ratio of 0.86 and a debt-to-equity ratio of 0.23. The firm has a fifty day moving average price of $8.91 and a 200 day moving average price of $10.19. The firm has a market cap of $522.29 million, a PE ratio of 14.85 and a beta of 1.14.

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

Ramaco Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be issued a $0.0688 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.84%. Ramaco Resources's payout ratio is 245.45%.

Insider Activity at Ramaco Resources

In other Ramaco Resources news, major shareholder Yorktown Xi Associates Llc sold 89,501 shares of the stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $8.09, for a total transaction of $724,063.09. Following the transaction, the insider now owns 1,024,870 shares of the company's stock, valued at $8,291,198.30. This represents a 8.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Yorktown Energy Partners Xi, L sold 98,274 shares of the firm's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $8.85, for a total value of $869,724.90. Following the sale, the insider now owns 1,052,404 shares in the company, valued at $9,313,775.40. This trade represents a 8.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 922,582 shares of company stock valued at $7,898,023 in the last ninety days. Insiders own 41.20% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in METC. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Ramaco Resources by 3.5% during the fourth 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 acquiring an additional 1,425 shares during the last quarter. Arkfeld Wealth Strategies L.L.C. grew its holdings in Ramaco Resources by 0.8% during the fourth quarter. Arkfeld Wealth Strategies L.L.C. now owns 232,755 shares of the energy company's stock worth $2,251,000 after acquiring an additional 1,748 shares during the period. Legal & General Group Plc grew its holdings in Ramaco Resources by 15.3% during the fourth quarter. Legal & General Group Plc now owns 13,752 shares of the energy company's stock worth $141,000 after acquiring an additional 1,822 shares during the period. MetLife Investment Management LLC boosted its position 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 during the period. Finally, New York State Common Retirement Fund boosted its position in shares of Ramaco Resources by 12.5% in the 4th quarter. New York State Common Retirement Fund now owns 17,988 shares of the energy company's stock valued at $185,000 after purchasing an additional 2,000 shares during the period. 74.49% of the stock is owned by hedge funds and other institutional investors.

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.