B. Riley Trims Ramaco Resources (NASDAQ:METC) Target Price to $18.00

by · The Markets Daily

Ramaco Resources (NASDAQ:METC – Free Report) had its price target reduced by B. Riley from $19.00 to $18.00 in a research report sent to investors on Tuesday, Benzinga reports. B. Riley currently has a buy rating on the energy company’s stock.

Separately, Benchmark reiterated a buy rating and set a $20.00 price objective on shares of Ramaco Resources in a research report on Thursday, August 29th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Ramaco Resources has a consensus rating of Moderate Buy and a consensus price target of $16.70.

Read Our Latest Research Report on Ramaco Resources

Ramaco Resources Trading Up 3.4 %

Shares of METC stock opened at $10.22 on Tuesday. The stock’s 50-day moving average price is $12.17 and its 200-day moving average price is $14.03. Ramaco Resources has a 12-month low of $8.72 and a 12-month high of $22.70. The stock has a market capitalization of $452.37 million, a price-to-earnings ratio of 8.74 and a beta of 1.05. The company has a current ratio of 1.33, a quick ratio of 0.90 and a debt-to-equity ratio of 0.23.

Ramaco Resources (NASDAQ:METC – Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The energy company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.23. The business had revenue of $155.32 million for the quarter, compared to analysts’ expectations of $141.66 million. Ramaco Resources had a return on equity of 16.30% and a net margin of 7.95%. Equities research analysts predict that Ramaco Resources will post 1.44 EPS for the current fiscal year.

Ramaco Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a $0.138 dividend. This represents a $0.55 annualized dividend and a yield of 5.40%. The ex-dividend date of this dividend was Friday, August 30th. Ramaco Resources’s payout ratio is currently 47.01%.

Hedge Funds Weigh In On Ramaco Resources

Hedge funds have recently made changes to their positions in the company. Teacher Retirement System of Texas purchased a new position in Ramaco Resources during the 4th quarter valued at about $300,000. Principal Financial Group Inc. increased its holdings in shares of Ramaco Resources by 28.2% in the 4th quarter. Principal Financial Group Inc. now owns 25,926 shares of the energy company’s stock valued at $445,000 after acquiring an additional 5,705 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Ramaco Resources in the fourth quarter valued at approximately $713,000. Trexquant Investment LP acquired a new stake in Ramaco Resources during the 4th quarter worth $652,000. Finally, Oxford Asset Management LLP acquired a new stake in shares of Ramaco Resources during the fourth quarter worth about $176,000. Institutional investors and hedge funds own 74.49% of the company’s stock.

Ramaco Resources Company Profile

(Get Free Report)

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.

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