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

Ramaco Resources, Inc. (NASDAQ:METC) – B. Riley lowered their Q1 2024 EPS estimates for shares of Ramaco Resources in a note issued to investors 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.

Separately, UBS Group began 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 research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.90.

Ramaco Resources Trading Up 1.0 %

NASDAQ:METC opened at $16.34 on Wednesday. The firm’s fifty day moving average is $17.26 and its 200-day moving average is $16.35. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.90 and a current ratio of 1.12. Ramaco Resources has a 52 week low of $7.26 and a 52 week high of $22.70. The firm has a market cap of $723.21 million, a P/E ratio of 9.39 and a beta of 1.15.

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 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 the consensus estimate of $182.60 million.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its holdings in Ramaco Resources by 533.0% during the first quarter. JPMorgan Chase & Co. now owns 959,504 shares of the energy company’s stock worth $15,160,000 after buying an additional 807,921 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Ramaco Resources by 103.5% during the first quarter. Bank of New York Mellon Corp now owns 72,164 shares of the energy company’s stock worth $1,140,000 after buying an additional 36,707 shares during the last quarter. Citigroup Inc. increased its holdings in Ramaco Resources by 87.3% during the first quarter. Citigroup Inc. now owns 37,405 shares of the energy company’s stock worth $591,000 after buying an additional 17,435 shares during the last quarter. Bank of Montreal Can purchased a new stake in Ramaco Resources during the first quarter worth about $243,000. Finally, BlackRock Inc. increased its holdings in Ramaco Resources by 16.8% during the first quarter. BlackRock Inc. now owns 195,732 shares of the energy company’s stock worth $3,093,000 after buying an additional 28,112 shares during the last quarter. 74.49% of the stock is owned by institutional investors.

Ramaco Resources Increases Dividend

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

Ramaco Resources Company Profile

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.