Ramaco Resources (NASDAQ:METC) Shares Down 3.2%

Ramaco Resources, Inc. (NASDAQ:METC) dropped 3.2% during mid-day trading on Tuesday . The stock traded as low as $16.11 and last traded at $16.29. Approximately 116,320 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 1,036,683 shares. The stock had previously closed at $16.83.

Analyst Ratings Changes

METC has been the topic of several analyst reports. UBS Group initiated coverage on shares of Ramaco Resources in a research note on Tuesday, January 16th. They issued a “neutral” rating and a $21.00 target price on the stock. B. Riley reiterated a “buy” rating and issued a $32.00 target price on shares of Ramaco Resources in a research note on Tuesday, February 13th. Finally, Benchmark raised their target price on shares of Ramaco Resources from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, December 7th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $19.50.

Ramaco Resources Stock Up 0.9 %

The company has a market cap of $732.50 million, a PE ratio of 9.51 and a beta of 1.16. The company’s 50 day moving average is $17.97 and its 200 day moving average is $15.62. 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 Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a $0.138 dividend. This represents a $0.55 annualized dividend and a yield of 3.34%. The ex-dividend date 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 currently 31.61%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Harbour Capital Advisors LLC increased its position in Ramaco Resources by 2.1% during the 4th quarter. Harbour Capital Advisors LLC now owns 27,460 shares of the energy company’s stock valued at $514,000 after purchasing an additional 560 shares during the period. Nuveen Asset Management LLC boosted its holdings in shares of Ramaco Resources by 1.3% in the 4th quarter. Nuveen Asset Management LLC now owns 63,167 shares of the energy company’s stock valued at $1,085,000 after buying an additional 797 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Ramaco Resources by 14.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,589 shares of the energy company’s stock valued at $130,000 after buying an additional 947 shares in the last quarter. LPL Financial LLC boosted its holdings in shares of Ramaco Resources by 5.1% in the 3rd quarter. LPL Financial LLC now owns 22,519 shares of the energy company’s stock valued at $247,000 after buying an additional 1,095 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Ramaco Resources by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 61,187 shares of the energy company’s stock valued at $538,000 after buying an additional 1,407 shares in 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.