B. Riley Comments on Ramaco Resources, Inc.’s Q1 2024 Earnings (NASDAQ:METC)

Ramaco Resources, Inc. (NASDAQ:METC) – Investment analysts at B. Riley cut their Q1 2024 earnings estimates for shares of Ramaco Resources in a research report issued on Monday, April 15th. B. Riley analyst L. Pipes now forecasts that the energy company will post earnings per share of $0.22 for the quarter, down from their previous forecast of $0.32. B. Riley has a “Buy” rating and a $24.00 price target on the stock. The consensus estimate for Ramaco Resources’ current full-year earnings is $2.37 per share.

Ramaco Resources (NASDAQ:METC) last posted its quarterly earnings data on Thursday, March 7th. The energy company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $182.60 million.

Separately, UBS Group assumed coverage on shares of Ramaco Resources in a research note on Tuesday, January 16th. They issued a “neutral” rating and a $21.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $17.90.

Ramaco Resources Stock Performance

Shares of NASDAQ METC opened at $15.65 on Wednesday. Ramaco Resources has a 12 month low of $7.26 and a 12 month high of $22.70. The company has a market cap of $692.67 million, a P/E ratio of 8.99 and a beta of 1.15. The business’s 50 day moving average is $17.24 and its two-hundred day moving average is $16.35. The company has a quick ratio of 0.90, a current ratio of 1.12 and a debt-to-equity ratio of 0.10.

Institutional Trading of Ramaco Resources

Several institutional investors have recently modified their holdings of the company. Archer Investment Corp acquired a new position in Ramaco Resources in the fourth quarter worth about $26,000. Global Retirement Partners LLC acquired a new stake in Ramaco Resources in the 4th quarter valued at $36,000. Point72 Middle East FZE bought a new stake in Ramaco Resources in the fourth quarter valued at $44,000. Barclays PLC grew its position in Ramaco Resources by 532.9% in the fourth quarter. Barclays PLC now owns 6,019 shares of the energy company’s stock valued at $53,000 after acquiring an additional 5,068 shares during the period. Finally, Ensign Peak Advisors Inc acquired a new position in Ramaco Resources during the third quarter worth $55,000. Institutional investors and hedge funds 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. Shareholders of record on Friday, March 1st were issued a $0.138 dividend. This is a boost from Ramaco Resources’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.55 annualized dividend and a yield of 3.53%. Ramaco Resources’s dividend payout ratio is 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.