Ramaco Resources (NASDAQ:METC) Stock Price Up 7% - Here's What Happened

Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report)'s share price traded up 7% on Wednesday . The stock traded as high as $9.55 and last traded at $9.52. 715,284 shares were traded during mid-day trading, an increase of 21% from the average session volume of 591,693 shares. The stock had previously closed at $8.90.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. B. Riley reduced their price target on shares of Ramaco Resources from $18.00 to $14.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Benchmark restated a "buy" rating on shares of Ramaco Resources in a research note on Wednesday, March 12th. Finally, Jefferies Financial Group reduced their target price on Ramaco Resources from $19.00 to $13.00 and set a "buy" rating for the company in a report on Monday, January 6th.

Ramaco Resources Trading Up 4.4 %

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 market cap of $532.98 million, a P/E ratio of 15.18 and a beta of 1.14. The business's 50-day moving average is $8.95 and its two-hundred day moving average is $10.21.

Ramaco Resources (NASDAQ:METC - Get Free Report) last released its 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). Ramaco Resources had a net margin of 5.35% and a return on equity of 10.17%. The business had revenue of $170.90 million for the quarter, compared to analyst estimates of $166.59 million. During the same period in the prior year, the company earned $0.24 earnings per share. The firm's revenue for the quarter was down 15.7% on a year-over-year basis. As a group, analysts expect 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. Shareholders 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 yield of 2.79%. Ramaco Resources's dividend payout ratio (DPR) is presently 245.45%.

Insider Transactions at Ramaco Resources

In other Ramaco Resources news, major shareholder Yorktown Energy Partners Xi, L sold 98,274 shares of the company's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $8.85, for a total value of $869,724.90. Following the completion of the sale, 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Yorktown Xi Associates Llc sold 89,501 shares of the stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $8.09, for a total value of $724,063.09. Following the transaction, the insider now owns 1,024,870 shares of the company's stock, valued at approximately $8,291,198.30. This trade represents a 8.03 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 922,582 shares of company stock valued at $7,898,023. Company insiders own 41.20% of the company's stock.

Institutional Trading of Ramaco Resources

Institutional investors have recently bought and sold shares of the business. HighTower Advisors LLC acquired a new stake in Ramaco Resources in the third quarter valued at $148,000. Barclays PLC lifted its position in shares of Ramaco Resources by 369.7% during the third quarter. Barclays PLC now owns 44,409 shares of the energy company's stock valued at $519,000 after purchasing an additional 34,954 shares in the last quarter. Franklin Resources Inc. boosted its position in Ramaco Resources by 28.1% in the third quarter. Franklin Resources Inc. now owns 25,330 shares of the energy company's stock worth $281,000 after purchasing an additional 5,561 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Ramaco Resources by 97.3% in the third quarter. JPMorgan Chase & Co. now owns 68,520 shares of the energy company's stock valued at $802,000 after acquiring an additional 33,788 shares during the last quarter. Finally, Harbour Capital Advisors LLC bought a new position in shares of Ramaco Resources during the 4th quarter worth $540,000. Institutional investors own 74.49% of the company's stock.

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.