Ramaco Resources (NASDAQ:METC) Trading Down 2.4% - Here's Why

Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report) shares were down 2.4% on Tuesday . The company traded as low as $9.03 and last traded at $9.26. Approximately 137,611 shares were traded during trading, a decline of 77% from the average daily volume of 599,201 shares. The stock had previously closed at $9.48.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on METC shares. 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 research note on Monday, January 6th. Benchmark reissued a "buy" rating on shares of Ramaco Resources in a report on Wednesday, March 12th. Finally, B. Riley decreased their target price on Ramaco Resources from $18.00 to $14.00 and set a "buy" rating for the company in a report on Friday, April 11th.

Ramaco Resources Trading Down 2.7 %

The stock has a market cap of $545.13 million, a PE ratio of 15.52 and a beta of 1.14. The company's fifty day moving average is $8.90 and its 200-day moving average is $10.18. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.35 and a quick ratio of 0.86.

Ramaco Resources (NASDAQ:METC - Get Free Report) last announced its quarterly earnings results on Monday, March 10th. The energy company reported $0.06 earnings per share 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 analyst estimates of $166.59 million. Ramaco Resources had a return on equity of 10.17% and a net margin of 5.35%. Ramaco Resources's revenue for the quarter was down 15.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.24 earnings per share. On average, analysts predict 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. Investors of record on Friday, May 30th will be given a dividend of $0.0688 per share. This represents a $0.28 annualized dividend and a yield of 2.72%. Ramaco Resources's dividend payout ratio is currently 245.45%.

Insiders Place Their Bets

In other Ramaco Resources news, major shareholder Yorktown Xi Associates Llc sold 89,501 shares of Ramaco Resources stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $8.09, for a total value of $724,063.09. Following the completion of the transaction, the insider now owns 1,024,870 shares of the company's stock, valued at approximately $8,291,198.30. The trade was a 8.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Peter A. Leidel sold 245,000 shares of the company's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $8.85, for a total transaction of $2,168,250.00. Following the completion of the transaction, the director now owns 695,601 shares of the company's stock, valued at approximately $6,156,068.85. This trade represents a 26.05 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 922,582 shares of company stock worth $7,898,023. Corporate insiders own 41.20% of the company's stock.

Hedge Funds Weigh In On Ramaco Resources

Several institutional investors and hedge funds have recently modified their holdings of METC. Exchange Traded Concepts LLC grew its holdings in Ramaco Resources by 59.4% in the first quarter. Exchange Traded Concepts LLC now owns 69,763 shares of the energy company's stock valued at $574,000 after purchasing an additional 25,992 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Ramaco Resources by 3.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 41,656 shares of the energy company's stock valued at $427,000 after buying an additional 1,425 shares in the last quarter. WBI Investments LLC acquired a new stake in Ramaco Resources in the 4th quarter valued at $154,000. Westwood Holdings Group Inc. purchased a new stake in Ramaco Resources in the 4th quarter worth $247,000. Finally, Wexford Capital LP acquired a new position in Ramaco Resources during the fourth quarter worth $825,000. Hedge funds and other 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.