Ramaco Resources, Inc. (NASDAQ:METC – Get Rating) declared a quarterly dividend on Wednesday, May 11th, Zacks reports. Investors of record on Wednesday, June 1st will be given a dividend of 0.113 per share by the energy company on Wednesday, June 15th. This represents a $0.45 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend is Tuesday, May 31st. This is a boost from Ramaco Resources’s previous quarterly dividend of $0.06.
Ramaco Resources has a dividend payout ratio of 13.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Ramaco Resources to earn $3.82 per share next year, which means the company should continue to be able to cover its $0.45 annual dividend with an expected future payout ratio of 11.8%.
METC stock opened at $14.47 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.86 and a quick ratio of 1.60. The company has a market cap of $640.59 million, a P/E ratio of 8.36 and a beta of 1.03. The stock’s fifty day moving average price is $15.83 and its 200-day moving average price is $14.54. Ramaco Resources has a 1 year low of $5.27 and a 1 year high of $21.73.
In other news, Director Peter A. Leidel sold 196,184 shares of Ramaco Resources stock in a transaction that occurred on Wednesday, May 25th. The shares were sold at an average price of $14.62, for a total value of $2,868,210.08. Following the transaction, the director now owns 6,284,547 shares of the company’s stock, valued at $91,880,077.14. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Yorktown Ix Associates Llc sold 78,921 shares of Ramaco Resources stock in a transaction that occurred on Tuesday, May 24th. The shares were sold at an average price of $14.59, for a total transaction of $1,151,457.39. Following the completion of the transaction, the insider now directly owns 6,480,731 shares in the company, valued at approximately $94,553,865.29. The disclosure for this sale can be found here. Insiders sold 1,324,393 shares of company stock valued at $20,003,509 over the last quarter. Corporate insiders own 52.85% of the company’s stock.
A number of hedge funds have recently made changes to their positions in METC. JPMorgan Chase & Co. increased its position in Ramaco Resources by 533.0% during the first quarter. JPMorgan Chase & Co. now owns 959,504 shares of the energy company’s stock worth $15,160,000 after acquiring an additional 807,921 shares during the period. Prudential Financial Inc. bought a new stake in Ramaco Resources in the 1st quarter valued at $5,862,000. Goldman Sachs Group Inc. increased its holdings in Ramaco Resources by 435.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 168,643 shares of the energy company’s stock valued at $2,664,000 after buying an additional 137,152 shares during the period. BlackRock Inc. increased its holdings in Ramaco Resources by 265.9% in the 4th quarter. BlackRock Inc. now owns 167,620 shares of the energy company’s stock valued at $2,280,000 after buying an additional 121,814 shares during the period. Finally, Wells Fargo & Company MN increased its holdings in Ramaco Resources by 157,127.4% in the 4th quarter. Wells Fargo & Company MN now owns 97,481 shares of the energy company’s stock valued at $1,326,000 after buying an additional 97,419 shares during the period. 63.30% of the stock is currently owned by institutional investors and hedge funds.
Several analysts recently commented on the stock. B. Riley raised their price target on shares of Ramaco Resources from $20.00 to $22.00 in a report on Thursday, February 3rd. Zacks Investment Research upgraded shares of Ramaco Resources from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 24th. Finally, Jefferies Financial Group lifted their target price on shares of Ramaco Resources from $16.00 to $19.00 and gave the company a “hold” rating in a research note on Wednesday, March 9th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $19.00.
About Ramaco Resources (Get Rating)
Ramaco Resources, Inc produces and sells metallurgical coal. The company's development portfolio includes the Elk Creek project consisting of approximately 20,200 acres of controlled mineral and 16 seams located in southern West Virginia; the Berwind property comprising approximately 41,300 acres of controlled mineral and an area of Squire Jim seam coal deposits, which is situated on the border of West Virginia and Virginia; the Knox Creek property consisting of approximately 62,100 acres of controlled mineral that is located in Virginia; and the RAM Mine property comprising approximately 1,570 acres of controlled mineral, which is situated in southwestern Pennsylvania.
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