Ramaco Resources (NASDAQ:METC) Shares Down 5.2% – Should You Sell?

Ramaco Resources, Inc. (NASDAQ:METC) was down 5.2% during mid-day trading on Friday . The company traded as low as $12.46 and last traded at $12.46. Approximately 71,617 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 679,174 shares. The stock had previously closed at $13.15.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Benchmark restated a “buy” rating and issued a $20.00 price objective on shares of Ramaco Resources in a research note on Thursday, August 29th. B. Riley cut their price objective on shares of Ramaco Resources from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th.

Ramaco Resources Price Performance

The business’s 50 day simple moving average is $11.13 and its 200-day simple moving average is $12.35. The company has a quick ratio of 0.86, a current ratio of 1.35 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $646.63 million, a price-to-earnings ratio of 18.49 and a beta of 1.08.

Ramaco Resources (NASDAQ:METC) last issued its earnings results on Monday, November 4th. The energy company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). The firm had revenue of $167.40 million during the quarter, compared to analyst estimates of $156.41 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 10.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.45 EPS. On average, research analysts forecast that Ramaco Resources, Inc. will post 0.86 earnings per share for the current year.

Ramaco Resources Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.1375 per share. This represents a $0.55 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date of this dividend is Monday, December 2nd. Ramaco Resources’s payout ratio is 84.62%.

Institutional Investors Weigh In On Ramaco Resources

Institutional investors have recently bought and sold shares of the stock. Innealta Capital LLC purchased a new stake in Ramaco Resources in the second quarter worth $28,000. Pingora Partners LLC raised its stake in shares of Ramaco Resources by 330.2% during the third quarter. Pingora Partners LLC now owns 3,700 shares of the energy company’s stock worth $43,000 after acquiring an additional 2,840 shares in the last quarter. Point72 DIFC Ltd purchased a new position in shares of Ramaco Resources in the third quarter worth about $45,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Ramaco Resources during the second quarter valued at approximately $94,000. Finally, Koss Olinger Consulting LLC bought a new stake in Ramaco Resources in the 2nd quarter worth $134,000. 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.