Ramaco Resources (NASDAQ:METC) Price Target Cut to $18.00 by Analysts at B. Riley

Ramaco Resources (NASDAQ:METC) had its price target decreased by B. Riley from $19.00 to $18.00 in a research report report published on Tuesday, Benzinga reports. B. Riley currently has a buy rating on the energy company’s stock.

Separately, Benchmark reaffirmed a buy rating and set a $20.00 target price on shares of Ramaco Resources in a research note on Thursday, August 29th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Ramaco Resources has an average rating of Moderate Buy and an average target price of $16.70.

Ramaco Resources Trading Down 0.1 %

METC opened at $9.92 on Tuesday. The firm has a market capitalization of $439.09 million, a price-to-earnings ratio of 8.48 and a beta of 1.05. Ramaco Resources has a one year low of $8.72 and a one year high of $22.70. The business has a 50 day simple moving average of $12.36 and a two-hundred day simple moving average of $14.09. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.33 and a quick ratio of 0.90.

Ramaco Resources (NASDAQ:METC) last announced its earnings results on Wednesday, August 7th. The energy company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.23. The company had revenue of $155.32 million during the quarter, compared to the consensus estimate of $141.66 million. Ramaco Resources had a return on equity of 16.30% and a net margin of 7.95%. Analysts predict that Ramaco Resources will post 1.44 EPS for the current year.

Ramaco Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a $0.138 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.55 annualized dividend and a yield of 5.56%. Ramaco Resources’s payout ratio is 47.01%.

Hedge Funds Weigh In On Ramaco Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Ramaco Resources in the 2nd quarter worth about $94,000. Sanctuary Advisors LLC bought a new stake in Ramaco Resources during the second quarter worth about $373,000. The Manufacturers Life Insurance Company purchased a new stake in Ramaco Resources in the second quarter worth about $139,000. Millennium Management LLC increased its stake in shares of Ramaco Resources by 22.4% during the second quarter. Millennium Management LLC now owns 435,007 shares of the energy company’s stock valued at $5,416,000 after purchasing an additional 79,687 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of Ramaco Resources by 219.6% during the second quarter. AQR Capital Management LLC now owns 32,059 shares of the energy company’s stock valued at $399,000 after purchasing an additional 22,027 shares during the last quarter. Hedge funds and other 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.