Ramaco Resources (NASDAQ:METC) Shares Down 11.6% - Here's What Happened

Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report) traded down 11.6% during trading on Wednesday . The stock traded as low as $10.45 and last traded at $10.27. 221,798 shares were traded during mid-day trading, a decline of 60% from the average session volume of 554,701 shares. The stock had previously closed at $11.62.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Benchmark reissued a "buy" rating on shares of Ramaco Resources in a research note on Wednesday. Jefferies Financial Group reduced their target price on shares of Ramaco Resources from $19.00 to $13.00 and set a "buy" rating on the stock in a report on Monday, January 6th.

Ramaco Resources Trading Down 0.6 %

The company's fifty day moving average is $9.59 and its two-hundred day moving average is $10.65. The stock has a market cap of $502.18 million, a price-to-earnings ratio of 14.71 and a beta of 1.17. The company has a quick ratio of 0.86, a current ratio of 1.35 and a debt-to-equity ratio of 0.23.

Ramaco Resources (NASDAQ:METC - Get Free Report) last released its quarterly earnings data on Monday, March 10th. The energy company reported $0.06 earnings per share for the quarter, missing analysts' consensus estimates of $0.42 by ($0.36). Ramaco Resources had a return on equity of 10.17% and a net margin of 5.35%. The company had revenue of $170.90 million for the quarter, compared to analyst estimates of $166.59 million. During the same period in the previous year, the business posted $0.24 EPS. The firm's revenue for the quarter was down 15.7% compared to the same quarter last year. On average, research analysts predict that Ramaco Resources, Inc. will post 0.05 EPS for the current fiscal year.

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Ramaco Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.1375 per share. The ex-dividend date was Friday, February 28th. This represents a $0.55 dividend on an annualized basis and a yield of 5.75%. Ramaco Resources's payout ratio is currently 500.00%.

Institutional Trading of Ramaco Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in 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 purchasing an additional 1,425 shares in the last quarter. Arkfeld Wealth Strategies L.L.C. grew its position in shares of 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 last quarter. Legal & General Group Plc grew its position in shares of 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 last quarter. MetLife Investment Management LLC grew its position in shares of Ramaco Resources by 13.9% during the fourth quarter. MetLife Investment Management LLC now owns 16,189 shares of the energy company's stock worth $166,000 after acquiring an additional 1,970 shares during the last quarter. Finally, New York State Common Retirement Fund grew its position in shares of Ramaco Resources by 12.5% during the fourth quarter. New York State Common Retirement Fund now owns 17,988 shares of the energy company's stock worth $185,000 after acquiring an additional 2,000 shares during the last quarter. Institutional investors and hedge funds 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.