Ramaco Resources (NASDAQ:METC) Shares Down 2.4%

Ramaco Resources, Inc. (NASDAQ:METC)’s stock price was down 2.4% on Tuesday . The stock traded as low as $14.87 and last traded at $14.89. Approximately 39,989 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 790,147 shares. The stock had previously closed at $15.25.

Wall Street Analysts Forecast Growth

A number of research firms have commented on METC. B. Riley decreased their target price on shares of Ramaco Resources from $24.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Benchmark cut their target price on shares of Ramaco Resources from $24.00 to $20.00 and set a “buy” rating for the company in a report on Friday, May 10th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $17.50.

Ramaco Resources Trading Up 1.5 %

The company has a 50 day moving average of $13.54 and a 200 day moving average of $16.17. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.95 and a current ratio of 1.23. The stock has a market capitalization of $678.06 million, a price-to-earnings ratio of 13.09 and a beta of 1.09.

Ramaco Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, June 15th. Investors of record on Saturday, June 1st were paid a dividend of $0.138 per share. This represents a $0.55 annualized dividend and a yield of 3.60%. The ex-dividend date of this dividend was Friday, May 31st. Ramaco Resources’s payout ratio is 47.01%.

Insider Buying and Selling at Ramaco Resources

In related news, General Counsel Evan H. Jenkins bought 7,158 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were acquired at an average price of $13.97 per share, with a total value of $99,997.26. Following the completion of the acquisition, the general counsel now owns 23,480 shares in the company, valued at approximately $328,015.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. 45.98% of the stock is owned by company insiders.

Institutional Trading of Ramaco Resources

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Ramaco Resources by 14.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,589 shares of the energy company’s stock worth $130,000 after buying an additional 947 shares during the period. Archer Investment Corp acquired a new stake in Ramaco Resources during the fourth quarter worth about $26,000. Global Retirement Partners LLC acquired a new stake in Ramaco Resources during the fourth quarter worth about $36,000. SG Americas Securities LLC increased its stake in Ramaco Resources by 12.9% during the first quarter. SG Americas Securities LLC now owns 21,545 shares of the energy company’s stock worth $363,000 after acquiring an additional 2,460 shares during the last quarter. Finally, AJOVista LLC acquired a new stake in Ramaco Resources during the fourth quarter worth about $69,000. 74.49% of the stock is currently owned by hedge funds and other institutional investors.

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.