Benchmark Has Lowered Expectations for Ramaco Resources (NASDAQ:METC) Stock Price

Ramaco Resources (NASDAQ:METC) had its price objective reduced by Benchmark from $18.00 to $14.00 in a research note published on Tuesday morning,Benzinga reports. They currently have a buy rating on the energy company’s stock.

Separately, B. Riley reduced their price target on shares of Ramaco Resources from $18.00 to $14.00 and set a “buy” rating for the company in a research report on Friday, April 11th.

Ramaco Resources Price Performance

Ramaco Resources stock opened at $9.90 on Tuesday. The stock has a market cap of $439.64 million, a P/E ratio of 15.23 and a beta of 1.28. The company has a fifty day simple moving average of $9.01 and a 200-day simple moving average of $10.08. Ramaco Resources has a 12-month low of $6.30 and a 12-month high of $15.49. The company has a current ratio of 1.35, a quick ratio of 0.86 and a debt-to-equity ratio of 0.23.

Ramaco Resources (NASDAQ:METC) last released its quarterly earnings data on Monday, May 12th. The energy company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.10. Ramaco Resources had a net margin of 5.35% and a return on equity of 10.17%. The business had revenue of $115.61 million during the quarter, compared to analysts’ expectations of $137.10 million. During the same period in the previous year, the company earned $0.23 EPS. The company’s revenue for the quarter was down 22.0% on a year-over-year basis. Equities analysts expect that Ramaco Resources will post 0.05 EPS for the current fiscal year.

Ramaco Resources Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be given a $0.0688 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.28 dividend on an annualized basis and a yield of 2.78%. Ramaco Resources’s dividend payout ratio (DPR) is presently 245.45%.

Insider Activity at Ramaco Resources

In other news, major shareholder Yorktown Energy Partners Xi, L sold 98,274 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $8.85, for a total value of $869,724.90. Following the completion of the sale, the insider now directly owns 1,052,404 shares of the company’s stock, valued at approximately $9,313,775.40. This represents a 8.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Peter A. Leidel sold 180,936 shares of the company’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $8.82, for a total transaction of $1,595,855.52. Following the completion of the sale, the director now directly owns 708,001 shares of the company’s stock, valued at $6,244,568.82. The trade was a 20.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 922,582 shares of company stock valued at $7,898,023 over the last ninety days. Insiders own 41.20% of the company’s stock.

Institutional Investors Weigh In On Ramaco Resources

A number of institutional investors and hedge funds have recently made changes to their positions in METC. Barclays PLC raised its holdings in shares of Ramaco Resources by 369.7% in the third quarter. Barclays PLC now owns 44,409 shares of the energy company’s stock valued at $519,000 after buying an additional 34,954 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Ramaco Resources by 97.3% during the third quarter. JPMorgan Chase & Co. now owns 68,520 shares of the energy company’s stock worth $802,000 after acquiring an additional 33,788 shares during the period. Harbour Capital Advisors LLC acquired a new position in shares of Ramaco Resources during the fourth quarter worth about $540,000. Prairiewood Capital LLC acquired a new position in shares of Ramaco Resources during the fourth quarter worth about $103,000. Finally, SG Americas Securities LLC increased its stake in shares of Ramaco Resources by 68.8% during the fourth quarter. SG Americas Securities LLC now owns 16,076 shares of the energy company’s stock worth $165,000 after acquiring an additional 6,555 shares during the period. 74.49% of the stock is owned by hedge funds and other 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.