Ramaco Resources (NASDAQ:METC – Get Free Report) updated its fourth quarter earnings guidance on Monday. The company provided EPS guidance of $0.65-$0.68 for the period, compared to the consensus EPS estimate of $0.59.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on the company. Benchmark increased their price target on Ramaco Resources from $15.00 to $20.00 and gave the stock a buy rating in a report on Thursday, December 7th. BMO Capital Markets increased their price target on Ramaco Resources from $10.00 to $12.00 and gave the company a market perform rating in a research report on Thursday, November 9th. Finally, UBS Group started coverage on Ramaco Resources in a research report on Tuesday, January 16th. They set a neutral rating and a $21.00 price target for the company. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Ramaco Resources presently has an average rating of Moderate Buy and a consensus target price of $16.10.
Ramaco Resources Trading Up 4.5 %
Ramaco Resources Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, March 1st will be given a $0.138 dividend. This represents a $0.55 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date is Thursday, February 29th. This is an increase from Ramaco Resources’s previous quarterly dividend of $0.13. Ramaco Resources’s dividend payout ratio (DPR) is 34.25%.
Insider Buying and Selling at Ramaco Resources
In other Ramaco Resources news, major shareholder Yorktown Xi Associates Llc sold 93,574 shares of the firm’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $16.22, for a total transaction of $1,517,770.28. Following the sale, the insider now owns 1,090,529 shares in the company, valued at $17,688,380.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Yorktown Xi Associates Llc sold 93,574 shares of Ramaco Resources stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $16.22, for a total value of $1,517,770.28. Following the transaction, the insider now owns 1,090,529 shares in the company, valued at $17,688,380.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Yorktown Ix Associates Llc sold 119,285 shares of Ramaco Resources stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $17.73, for a total value of $2,114,923.05. Following the completion of the transaction, the insider now owns 1,109,484 shares in the company, valued at approximately $19,671,151.32. The disclosure for this sale can be found here. Insiders have sold 1,565,831 shares of company stock worth $26,799,939 over the last 90 days. Corporate insiders own 45.98% of the company’s stock.
Institutional Investors Weigh In On Ramaco Resources
A number of hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its holdings in shares of Ramaco Resources by 533.0% during the 1st quarter. JPMorgan Chase & Co. now owns 959,504 shares of the energy company’s stock valued at $15,160,000 after purchasing an additional 807,921 shares during the last quarter. Prudential Financial Inc. purchased a new stake in shares of Ramaco Resources during the 1st quarter valued at about $5,862,000. State Street Corp raised its position in shares of Ramaco Resources by 877.5% during the 2nd quarter. State Street Corp now owns 353,203 shares of the energy company’s stock valued at $4,645,000 after buying an additional 317,069 shares in the last quarter. Comerica Bank purchased a new stake in shares of Ramaco Resources during the 2nd quarter valued at about $2,662,000. Finally, Millennium Management LLC grew its stake in Ramaco Resources by 48.5% in the 2nd quarter. Millennium Management LLC now owns 778,205 shares of the energy company’s stock worth $10,233,000 after acquiring an additional 254,263 shares in the last quarter. 49.68% of the stock is currently owned by hedge funds and other institutional investors.
Ramaco Resources Company Profile
Ramaco Resources, Inc operates, develops, and sells metallurgical coal. Its development portfolio includes the Elk Creek project located in southern West Virginia; the Berwind property situated on the border of West Virginia and Virginia; the Knox Creek property is located in Virginia; and the RAM Mine property situated in southwestern Pennsylvania.
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