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

Ramaco Resources, Inc. (NASDAQ:METC) – Research analysts at B. Riley cut their Q2 2024 earnings per share (EPS) estimates for shares of Ramaco Resources in a research report issued to clients and investors on Monday, April 15th. B. Riley analyst L. Pipes now forecasts that the energy company will post earnings of $0.04 per share for the quarter, down from their prior estimate of $0.43. B. Riley currently 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. 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 issued 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 net margin of 11.87% and a return on equity of 24.28%. The firm had revenue of $202.73 million during the quarter, compared to analyst estimates of $182.60 million.

Separately, UBS Group assumed coverage on Ramaco Resources in a report 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $17.90.

Ramaco Resources Stock Performance

Shares of NASDAQ METC opened at $16.34 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.12 and a quick ratio of 0.90. The stock’s fifty day moving average price is $17.26 and its two-hundred day moving average price is $16.35. Ramaco Resources has a one year low of $7.26 and a one year high of $22.70. The firm has a market cap of $723.21 million, a price-to-earnings ratio of 9.39 and a beta of 1.15.

Institutional Trading of Ramaco Resources

Large investors have recently modified their holdings of the stock. Archer Investment Corp acquired a new stake in shares of Ramaco Resources during the 4th quarter worth $26,000. Global Retirement Partners LLC acquired a new stake in shares of Ramaco Resources during the 4th quarter worth $36,000. AJOVista LLC bought a new stake in shares of Ramaco Resources during the 4th quarter worth $69,000. Tower Research Capital LLC TRC lifted its position in shares of Ramaco Resources by 48,333.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,359 shares of the energy company’s stock worth $75,000 after buying an additional 4,350 shares during the last quarter. Finally, Point72 Middle East FZE bought a new stake in shares of Ramaco Resources during the 4th quarter worth $44,000. 74.49% of the stock is owned by institutional investors and hedge funds.

Ramaco Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a dividend of $0.138 per share. This is a positive change from Ramaco Resources’s previous quarterly dividend of $0.13. This represents a $0.55 annualized dividend and a dividend yield of 3.38%. The ex-dividend date was Thursday, February 29th. 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.