Ramaco Resources, Inc. (NASDAQ:METC – Get Rating) – Equity analysts B. Riley released their first-quarter 2023 earnings estimates for shares of Ramaco Resources in a report released Wednesday, June 22. B. Riley analyst L. Pipes expects the energy company to post earnings per share of $0.87 for the quarter. The consensus estimate for Ramaco Resources‘ current annual earnings is $5.64 per share. B. Riley also released estimates for Ramaco Resources Q2 2023 earnings at $0.87 EPS, Q3 2023 earnings at $0.68 EPS and Q4 2023 earnings at $0.68 EPS.
Several other research companies have also recently weighed in on METC. Jefferies Financial Group upgraded shares of Ramaco Resources from a “hold” rating to a “buy” rating and raised its price target for the company from $16.00 to $25.00 in a Tuesday research report June 7. Clarkson Capital restated a “buy” rating on Ramaco Resources shares in a Tuesday, June 14 research report. One investment analyst has assigned the stock a hold rating and three have assigned the stock a buy rating. Based on data from MarketBeat.com, Ramaco Resources has a consensus rating of “Moderate Buy” and an average target price of $21.67.
METC opened at $14.55 on Thursday. The company has a current ratio of 1.86, a quick ratio of 1.60 and a debt ratio of 0.16. The stock has a market capitalization of $644.13 million, a PE ratio of 8.41 and a beta of 1.05. Ramaco Resources has a 1-year low of $5.29 and a 1-year high of $21.73. The company has a 50-day moving average price of $15.69 and a two-hundred-day moving average price of $14.94.
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 15. Shareholders of record on Wednesday, June 1 received a dividend of $0.113. This represents an annualized dividend of $0.45 and a dividend yield of 3.11%. The ex-dividend date was Tuesday, May 31. This is a positive change from Ramaco Resources’ previous quarterly dividend of $0.06. Ramaco Resources’ dividend payout ratio (DPR) is 26.01%.
In related news, director Peter A. Leidel sold 120,368 shares of Ramaco Resources in a trade that took place on Wednesday, May 18. The shares were sold at an average price of $14.50, for a total transaction of $1,745,336.00. As a result of the transaction, the administrator now owns 6,960,654 shares of the company, valued at approximately $100,929,483. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink. Additionally, director Peter A. Leidel sold 250,100 shares of Ramaco Resources in a trade that took place on Tuesday, May 31. The stock was sold at an average price of $13.63, for a total transaction of $3,408,863.00. As a result of the transaction, the administrator now directly owns 5,786,735 shares of the company, valued at approximately $78,873,198.05. The disclosure of this sale can be found here. Insiders sold a total of 1,822,205 shares of the company worth $27,098,826 in the past ninety days. Insiders hold 52.85% of the shares of the company.
A number of institutional investors and hedge funds have recently changed their positions in the company. BlackRock Inc. increased its stake in Ramaco Resources by 4.1% in the third quarter. BlackRock Inc. now owns 45,806 shares of the energy company valued at $564,000 after buying 1,806 more shares last quarter. Qube Research & Technologies Ltd increased its stake in shares of Ramaco Resources by 2.5% in the first quarter. Qube Research & Technologies Ltd now owns 75,691 shares of the energy company valued at $1,196,000 after buying 1,816 additional shares in the last quarter. State Street Corp increased its holdings of Ramaco Resources shares 10.2% in the first quarter. State Street Corp now owns 36,134 shares of the energy company valued at $571,000 after buying 3,334 more shares in the last quarter. The Tennessee State Treasury Department increased its holdings of Ramaco Resources stock by 38.1% in the first quarter. The Tennessee State Treasury Department now owns 16,850 shares of the energy company valued at $266,000 after buying 4,650 additional shares in the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Ramaco Resources by 523.1% in the first quarter. Bank of America Corp DE now owns 5,944 shares of the energy company valued at $94,000 after buying an additional 4,990 shares in the last quarter. 63.30% of the shares are currently held by hedge funds and other institutional investors.
About Ramaco Resources (Get an evaluation)
Ramaco Resources, Inc produces and sells metallurgical coal. The Company’s development portfolio includes the Elk Creek Project consisting of approximately 20,200 acres of controlled minerals and 16 veins located in southern West Virginia; the Berwind property comprising approximately 41,300 acres of controlled ore and an area of Squire Jim coal deposits, which is located on the border of West Virginia and Virginia; the Knox Creek property consisting of approximately 62,100 acres of controlled minerals located in Virginia; and the RAM Mine property comprising approximately 1,570 acres of controlled minerals, located in southwestern Pennsylvania.
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