Ramaco Resources (NASDAQ:METC) Given New $14.00 Price Target at Benchmark

Ramaco Resources (NASDAQ:METC) had its price objective cut by Benchmark from $18.00 to $14.00 in a report published on Tuesday morning, MarketBeat Ratings reports. They currently have a buy rating on the energy company’s stock.

Separately, B. Riley reduced their price objective on shares of Ramaco Resources from $18.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, April 11th.

Ramaco Resources Stock Performance

NASDAQ METC opened at $9.11 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 1.35 and a debt-to-equity ratio of 0.23. The firm has a market cap of $404.56 million, a PE ratio of 14.02 and a beta of 1.28. The company has a 50 day moving average price of $9.04 and a 200 day moving average price of $10.06. Ramaco Resources has a 52 week low of $6.30 and a 52 week high of $15.49.

Ramaco Resources (NASDAQ:METC) last posted its quarterly earnings data on Monday, May 12th. The energy company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.10. The firm had revenue of $115.61 million during the quarter, compared to analyst estimates of $137.10 million. Ramaco Resources had a net margin of 5.35% and a return on equity of 10.17%. Ramaco Resources’s revenue was down 22.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.23 EPS. As a group, sell-side analysts forecast that Ramaco Resources will post 0.05 EPS for the current fiscal year.

Ramaco Resources Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be given a dividend of $0.0688 per share. This represents a $0.28 annualized dividend and a yield of 3.02%. The ex-dividend date is Friday, May 30th. Ramaco Resources’s dividend payout ratio is presently 245.45%.

Insiders Place Their Bets

In related news, Director Peter A. Leidel sold 180,936 shares of the stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $8.82, for a total transaction of $1,595,855.52. Following the sale, the director now directly owns 708,001 shares of the company’s stock, valued at approximately $6,244,568.82. This represents a 20.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Yorktown Xi Associates Llc sold 89,501 shares of the stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $8.09, for a total transaction of $724,063.09. Following the sale, the insider now directly owns 1,024,870 shares in the company, valued at $8,291,198.30. This trade represents a 8.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 922,582 shares of company stock valued at $7,898,023. Insiders own 41.20% of the company’s stock.

Hedge Funds Weigh In On Ramaco Resources

A number of large investors have recently added to or reduced their stakes in the stock. PDT Partners LLC lifted its stake in Ramaco Resources by 13.4% in the 1st quarter. PDT Partners LLC now owns 83,962 shares of the energy company’s stock valued at $691,000 after buying an additional 9,952 shares in the last quarter. State of Wyoming acquired a new stake in shares of Ramaco Resources in the first quarter valued at about $50,000. Jump Financial LLC increased its position in Ramaco Resources by 899.0% during the first quarter. Jump Financial LLC now owns 108,130 shares of the energy company’s stock worth $890,000 after purchasing an additional 97,306 shares during the last quarter. AlphaQuest LLC increased its position in Ramaco Resources by 30.6% during the first quarter. AlphaQuest LLC now owns 6,332 shares of the energy company’s stock worth $52,000 after purchasing an additional 1,482 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new stake in Ramaco Resources during the first quarter worth about $115,000. 74.49% of the stock is currently owned by institutional investors and hedge funds.

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.