Ramaco Resources (NASDAQ:METC) Shares Up 7.2% - Still a Buy?

Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report) shares traded up 7.2% on Monday . The stock traded as high as $10.36 and last traded at $10.30. 242,865 shares changed hands during mid-day trading, a decline of 46% from the average session volume of 451,364 shares. The stock had previously closed at $9.61.

Analyst Ratings Changes

Separately, Jefferies Financial Group decreased their target price on Ramaco Resources from $19.00 to $13.00 and set a "buy" rating for the company in a research report on Monday, January 6th.

Ramaco Resources Stock Up 3.5 %

The company has a market cap of $558.92 million, a price-to-earnings ratio of 16.37 and a beta of 1.16. 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 stock has a 50-day simple moving average of $10.28 and a 200-day simple moving average of $11.09.

Ramaco Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a dividend of $0.1375 per share. This represents a $0.55 dividend on an annualized basis and a dividend yield of 5.17%. The ex-dividend date is Friday, February 28th. Ramaco Resources's dividend payout ratio (DPR) is presently 84.62%.

Hedge Funds Weigh In On Ramaco Resources

Hedge funds and other institutional investors have recently modified their holdings of the stock. Jump Financial LLC acquired a new position in shares of Ramaco Resources in the fourth quarter worth about $111,000. Carlyle Group Inc. acquired a new position in Ramaco Resources in the 4th quarter worth approximately $201,000. Barclays PLC grew its position in Ramaco Resources by 8.6% during the 4th quarter. Barclays PLC now owns 48,217 shares of the energy company's stock worth $495,000 after purchasing an additional 3,808 shares in the last quarter. CenterBook Partners LP acquired a new stake in Ramaco Resources during the 4th quarter valued at $6,862,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Ramaco Resources in the fourth quarter valued at $487,000. Institutional investors and hedge funds 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.