Shares of Ramaco Resources, Inc. (NASDAQ:METC – Get Free Report) saw unusually-high trading volume on Thursday after the company announced a dividend. Approximately 267,523 shares were traded during mid-day trading, a decline of 42% from the previous session’s volume of 463,996 shares.The stock last traded at $18.84 and had previously closed at $18.00.
The newly announced dividend which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a $0.125 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.50 annualized dividend and a dividend yield of 2.91%. Ramaco Resources’s dividend payout ratio is presently 34.25%.
Analysts Set New Price Targets
A number of equities analysts have issued reports on METC shares. B. Riley lifted their target price on shares of Ramaco Resources from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, September 27th. Benchmark upped their target price on Ramaco Resources from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, October 18th. Jefferies Financial Group raised their price target on Ramaco Resources from $10.50 to $12.50 and gave the stock a “buy” rating in a research report on Wednesday, October 4th. Finally, BMO Capital Markets upped their price objective on Ramaco Resources from $10.00 to $12.00 and gave the company a “market perform” rating in a research report on Thursday, November 9th.
Ramaco Resources Stock Down 4.4 %
The firm’s 50 day moving average is $10.91 and its 200-day moving average is $9.40. The firm has a market cap of $906.27 million, a PE ratio of 12.33 and a beta of 1.06. The company has a quick ratio of 0.83, a current ratio of 1.19 and a debt-to-equity ratio of 0.21.
Ramaco Resources (NASDAQ:METC – Get Free Report) last issued its quarterly earnings results on Tuesday, November 7th. The energy company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.01. Ramaco Resources had a return on equity of 20.69% and a net margin of 10.65%. The company had revenue of $187.00 million during the quarter, compared to the consensus estimate of $159.63 million. During the same period in the previous year, the firm posted $0.67 EPS. Ramaco Resources’s revenue was up 36.0% on a year-over-year basis. As a group, equities research analysts expect that Ramaco Resources, Inc. will post 1.75 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Ramaco Resources news, Director Bryan H. Lawrence sold 44,276 shares of Ramaco Resources stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $18.19, for a total value of $805,380.44. Following the completion of the sale, the director now owns 737,932 shares in the company, valued at approximately $13,422,983.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Bryan H. Lawrence sold 316,623 shares of the stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $17.73, for a total value of $5,613,725.79. Following the transaction, the director now directly owns 730,408 shares of the company’s stock, valued at approximately $12,950,133.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Bryan H. Lawrence sold 44,276 shares of the company’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $18.19, for a total value of $805,380.44. Following the sale, the director now owns 737,932 shares of the company’s stock, valued at $13,422,983.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 496,864 shares of company stock worth $8,837,438. 45.98% of the stock is owned by company insiders.
Institutional Trading of Ramaco Resources
A number of institutional investors have recently modified their holdings of the company. GSA Capital Partners LLP acquired a new position in Ramaco Resources during the third quarter valued at approximately $443,000. Royal Bank of Canada increased its position in shares of Ramaco Resources by 20.8% in the third quarter. Royal Bank of Canada now owns 29,837 shares of the energy company’s stock worth $328,000 after acquiring an additional 5,133 shares in the last quarter. Legal & General Group Plc purchased a new position in shares of Ramaco Resources in the 3rd quarter valued at $225,000. MQS Management LLC acquired a new position in shares of Ramaco Resources during the 3rd quarter valued at $163,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Ramaco Resources in the third quarter worth about $145,000. Hedge funds and other institutional investors own 49.68% of the company’s stock.
About Ramaco Resources
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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