Ramaco Resources, Inc. (NASDAQ:METC - Free Report) - Stock analysts at B. Riley lowered their Q3 2023 earnings per share (EPS) estimates for shares of Ramaco Resources in a research note issued to investors on Thursday, August 10th. B. Riley analyst L. Pipes now forecasts that the energy company will post earnings per share of $0.15 for the quarter, down from their previous estimate of $0.76. B. Riley currently has a "Buy" rating and a $11.00 target price on the stock. The consensus estimate for Ramaco Resources' current full-year earnings is $1.40 per share. B. Riley also issued estimates for Ramaco Resources' Q4 2023 earnings at $0.62 EPS, FY2023 earnings at $1.51 EPS, Q1 2024 earnings at $0.12 EPS, FY2024 earnings at $0.38 EPS, Q1 2025 earnings at $0.07 EPS, Q2 2025 earnings at $0.07 EPS and FY2025 earnings at $0.30 EPS.
Separately, Benchmark reduced their price objective on Ramaco Resources from $13.00 to $11.00 and set a "buy" rating for the company in a research report on Thursday.
Check Out Our Latest Stock Report on Ramaco Resources
Ramaco Resources Stock Up 1.2 %
Shares of METC stock opened at $8.18 on Monday. The stock has a market cap of $363.30 million, a PE ratio of 4.93 and a beta of 1.20. Ramaco Resources has a 1 year low of $7.26 and a 1 year high of $12.81. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.84 and a current ratio of 1.25. The business's fifty day moving average is $8.68 and its 200-day moving average is $9.03.
Ramaco Resources Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $0.50 annualized dividend and a yield of 6.11%. Ramaco Resources's dividend payout ratio (DPR) is currently 30.12%.
Insider Buying and Selling at Ramaco Resources
In other Ramaco Resources news, Director Aurelia Skipwith Giacometto sold 3,600 shares of the firm's stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $8.96, for a total transaction of $32,256.00. Following the transaction, the director now directly owns 14,477 shares in the company, valued at $129,713.92. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 45.98% of the company's stock.
Hedge Funds Weigh In On Ramaco Resources
A number of institutional investors have recently made changes to their positions in METC. JPMorgan Chase & Co. increased its stake in shares of Ramaco Resources by 533.0% in the first quarter. JPMorgan Chase & Co. now owns 959,504 shares of the energy company's stock worth $15,160,000 after purchasing an additional 807,921 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Ramaco Resources by 103.5% in the first quarter. Bank of New York Mellon Corp now owns 72,164 shares of the energy company's stock worth $1,140,000 after purchasing an additional 36,707 shares during the period. Citigroup Inc. increased its stake in shares of Ramaco Resources by 87.3% in the first quarter. Citigroup Inc. now owns 37,405 shares of the energy company's stock worth $591,000 after purchasing an additional 17,435 shares during the period. Bank of Montreal Can bought a new position in shares of Ramaco Resources in the first quarter worth about $243,000. Finally, BlackRock Inc. increased its stake in shares of Ramaco Resources by 16.8% in the first quarter. BlackRock Inc. now owns 195,732 shares of the energy company's stock worth $3,093,000 after purchasing an additional 28,112 shares during the period. 60.03% of the stock is currently owned by institutional investors.
About Ramaco Resources
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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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