B. Riley Trims Ramaco Resources (NASDAQ:METC) Target Price to $24.00

Ramaco Resources (NASDAQ:METC) had its target price cut by B. Riley from $25.00 to $24.00 in a research report report published on Monday, Benzinga reports. They currently have a buy rating on the energy company’s stock. B. Riley also issued estimates for Ramaco Resources’ Q1 2024 earnings at $0.22 EPS, Q2 2024 earnings at $0.04 EPS, Q3 2024 earnings at $0.58 EPS, Q4 2024 earnings at $0.66 EPS and FY2024 earnings at $1.50 EPS.

Separately, UBS Group initiated coverage on shares of Ramaco Resources in a research report on Tuesday, January 16th. They set a neutral rating and a $21.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $17.90.

Ramaco Resources Trading Down 4.2 %

Ramaco Resources stock opened at $15.65 on Monday. The company has a quick ratio of 0.90, a current ratio of 1.12 and a debt-to-equity ratio of 0.10. The firm has a 50-day moving average price of $17.24 and a two-hundred day moving average price of $16.35. The firm has a market capitalization of $692.67 million, a price-to-earnings ratio of 8.99 and a beta of 1.15. Ramaco Resources has a 52-week low of $7.26 and a 52-week high of $22.70.

Ramaco Resources (NASDAQ:METC) last released its quarterly earnings results on Thursday, March 7th. The energy company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.07). Ramaco Resources had a return on equity of 24.28% and a net margin of 11.87%. The company had revenue of $202.73 million for the quarter, compared to the consensus estimate of $182.60 million. Sell-side analysts expect that Ramaco Resources will post 2.37 earnings per share for the current year.

Ramaco Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a $0.138 dividend. This is an increase from Ramaco Resources’s previous quarterly dividend of $0.13. This represents a $0.55 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date of this dividend was Thursday, February 29th. Ramaco Resources’s payout ratio is presently 31.61%.

Institutional Trading of Ramaco Resources

Hedge funds and other institutional investors have recently made changes to their positions in the business. Archer Investment Corp bought a new stake in shares of Ramaco Resources in the 4th quarter worth approximately $26,000. Global Retirement Partners LLC bought a new stake in shares of Ramaco Resources in the 4th quarter worth approximately $36,000. AJOVista LLC bought a new stake in shares of Ramaco Resources in the 4th quarter worth approximately $69,000. Tower Research Capital LLC TRC raised its holdings in shares of Ramaco Resources by 48,333.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,359 shares of the energy company’s stock worth $75,000 after purchasing an additional 4,350 shares in the last quarter. Finally, Point72 Middle East FZE bought a new stake in shares of Ramaco Resources in the 4th quarter worth approximately $44,000. 74.49% of the stock is currently owned by institutional investors.

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.