Ramaco Resources, Inc. Forecasted to Earn Q2 2024 Earnings of $0.04 Per Share (NASDAQ:METC)

Ramaco Resources, Inc. (NASDAQ:METC) – B. Riley cut their Q2 2024 earnings estimates for shares of Ramaco Resources in a report released on Monday, April 15th. B. Riley analyst L. Pipes now expects that the energy company will earn $0.04 per share for the quarter, down from their prior estimate of $0.43. B. Riley currently has a “Buy” rating and a $24.00 target price on the stock. The consensus estimate for Ramaco Resources’ current full-year earnings is $1.59 per share. B. Riley also issued estimates for Ramaco Resources’ Q3 2024 earnings at $0.58 EPS, Q4 2024 earnings at $0.66 EPS and FY2024 earnings at $1.50 EPS.

Separately, UBS Group began coverage on shares of Ramaco Resources in a report on Tuesday, January 16th. They issued a “neutral” rating and a $21.00 price objective for the company. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $17.90.

Ramaco Resources Stock Down 0.4 %

Shares of NASDAQ METC opened at $15.59 on Thursday. The company has a current ratio of 1.12, a quick ratio of 0.90 and a debt-to-equity ratio of 0.10. Ramaco Resources has a 12 month low of $7.26 and a 12 month high of $22.70. The firm has a market capitalization of $690.01 million, a PE ratio of 8.96 and a beta of 1.15. The firm has a fifty day simple moving average of $17.23 and a two-hundred day simple moving average of $16.38.

Ramaco Resources (NASDAQ:METC) last posted 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 net margin of 11.87% and a return on equity of 24.28%. The firm had revenue of $202.73 million for the quarter, compared to the consensus estimate of $182.60 million.

Ramaco Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a dividend of $0.138 per share. This represents a $0.55 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date of this dividend was 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 presently 31.61%.

Hedge Funds Weigh In On Ramaco Resources

Institutional investors have recently made changes to their positions in the business. Archer Investment Corp bought a new position 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 during the fourth quarter valued at approximately $36,000. AJOVista LLC bought a new stake in shares of Ramaco Resources during the fourth quarter valued at approximately $69,000. Tower Research Capital LLC TRC raised its position in shares of Ramaco Resources by 48,333.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,359 shares of the energy company’s stock valued at $75,000 after buying an additional 4,350 shares during the last quarter. Finally, Point72 Middle East FZE bought a new stake in shares of Ramaco Resources during the fourth quarter valued at approximately $44,000. Institutional investors 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.