B. Riley Research Analysts Decrease Earnings Estimates for Ramaco Resources, Inc. (NASDAQ:METC)

Ramaco Resources, Inc. (NASDAQ:METC) – B. Riley dropped their Q2 2024 earnings per share estimates for Ramaco Resources in a research report issued to clients and investors on Monday, April 15th. B. Riley analyst L. Pipes now anticipates that the energy company will post earnings of $0.04 per share for the quarter, down from their previous estimate of $0.43. B. Riley has a “Buy” rating and a $24.00 price objective on the stock. The consensus estimate for Ramaco Resources’ current full-year earnings is $2.37 per share. B. Riley also issued estimates for Ramaco Resources’ Q3 2024 earnings at $0.58 EPS, Q4 2024 earnings at $0.66 EPS and FY2024 earnings at $1.50 EPS.

Ramaco Resources (NASDAQ:METC) last posted its quarterly earnings data on Thursday, March 7th. The energy company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.07). Ramaco Resources had a return on equity of 24.28% and a net margin of 11.87%. The business had revenue of $202.73 million during the quarter, compared to analysts’ expectations of $182.60 million.

Separately, UBS Group initiated coverage on Ramaco Resources in a research report on Tuesday, January 16th. They issued a “neutral” rating and a $21.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Ramaco Resources presently has an average rating of “Moderate Buy” and a consensus target price of $17.90.

Ramaco Resources Stock Up 1.0 %

METC stock opened at $16.34 on Thursday. The stock’s fifty day simple moving average is $17.26 and its two-hundred day simple moving average is $16.35. 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 has a 1-year low of $7.26 and a 1-year high of $22.70. The stock has a market cap of $723.21 million, a P/E ratio of 9.39 and a beta of 1.15.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Archer Investment Corp purchased a new position in shares of Ramaco Resources during the 4th quarter valued at $26,000. Global Retirement Partners LLC purchased a new position in shares of Ramaco Resources during the 4th quarter valued at $36,000. Point72 Middle East FZE purchased a new position in shares of Ramaco Resources during the 4th quarter valued at $44,000. Barclays PLC lifted its position in shares of Ramaco Resources by 532.9% during the 4th quarter. Barclays PLC now owns 6,019 shares of the energy company’s stock valued at $53,000 after buying an additional 5,068 shares during the last quarter. Finally, Ensign Peak Advisors Inc bought a new stake in shares of Ramaco Resources during the 3rd quarter valued at $55,000. Hedge funds and other institutional investors own 74.49% of the company’s stock.

Ramaco Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.138 per share. This represents a $0.55 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date of this dividend was Thursday, February 29th. This is a boost from Ramaco Resources’s previous quarterly dividend of $0.13. Ramaco Resources’s dividend payout ratio is currently 31.61%.

About Ramaco Resources

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.