Ramaco Resources (NASDAQ:METC) Trading 7.2% Higher – Time to Buy?

Ramaco Resources, Inc. (NASDAQ:METC)’s stock price traded up 7.2% during trading on Monday . The stock traded as high as $10.36 and last traded at $10.30. 242,865 shares were traded during mid-day trading, a decline of 46% from the average session volume of 451,364 shares. The stock had previously closed at $9.61.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group decreased their price objective on shares of Ramaco Resources from $19.00 to $13.00 and set a “buy” rating on the stock in a report on Monday, January 6th.

Ramaco Resources Stock Performance

The stock has a market capitalization of $540.01 million, a price-to-earnings ratio of 15.82 and a beta of 1.16. The company’s fifty day simple moving average is $10.35 and its 200 day simple moving average is $11.10. The company has a quick ratio of 0.86, a current ratio of 1.35 and a debt-to-equity ratio of 0.23.

Ramaco Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a $0.1375 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.55 dividend on an annualized basis and a dividend yield of 5.35%. Ramaco Resources’s payout ratio is presently 84.62%.

Institutional Investors Weigh In On Ramaco Resources

Institutional investors have recently modified their holdings of the business. Harbour Capital Advisors LLC bought a new stake in shares of Ramaco Resources in the fourth quarter valued at about $540,000. Dynamic Technology Lab Private Ltd lifted its position in Ramaco Resources by 190.4% during the third quarter. Dynamic Technology Lab Private Ltd now owns 89,958 shares of the energy company’s stock worth $1,053,000 after purchasing an additional 58,980 shares during the period. Barclays PLC lifted its position in Ramaco Resources by 369.7% during the third quarter. Barclays PLC now owns 44,409 shares of the energy company’s stock worth $519,000 after purchasing an additional 34,954 shares during the period. JPMorgan Chase & Co. lifted its position in Ramaco Resources by 97.3% during the third quarter. JPMorgan Chase & Co. now owns 68,520 shares of the energy company’s stock worth $802,000 after purchasing an additional 33,788 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Ramaco Resources by 231.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 262,354 shares of the energy company’s stock worth $3,070,000 after purchasing an additional 183,163 shares during the period. Institutional investors own 74.49% of the company’s stock.

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.