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

Ramaco Resources, Inc. (NASDAQ:METC) – Stock analysts at B. Riley dropped their Q1 2024 earnings per share 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 anticipates that the energy company will earn $0.22 per share for the quarter, down from their prior estimate of $0.32. B. Riley currently has a “Buy” rating and a $24.00 target price on the stock. The consensus estimate for Ramaco Resources’ current full-year earnings is $2.37 per share.

Ramaco Resources (NASDAQ:METC) last issued its quarterly earnings results on Thursday, March 7th. The energy company reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.07). The company had revenue of $202.73 million during the quarter, compared to the consensus estimate of $182.60 million. Ramaco Resources had a return on equity of 24.28% and a net margin of 11.87%.

Separately, UBS Group initiated coverage on Ramaco Resources in a research report on Tuesday, January 16th. They issued a “neutral” rating and a $21.00 price target for the company. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Ramaco Resources currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.90.

Ramaco Resources Stock Up 1.0 %

Shares of METC opened at $16.34 on Wednesday. The company has a market cap of $723.21 million, a PE ratio of 9.39 and a beta of 1.15. The business has a fifty day moving average of $17.26 and a 200 day moving average of $16.35. Ramaco Resources has a 52-week low of $7.26 and a 52-week high of $22.70. The company has a quick ratio of 0.90, a current ratio of 1.12 and a debt-to-equity ratio of 0.10.

Institutional Trading of Ramaco Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of METC. Arkfeld Wealth Strategies L.L.C. increased its stake in shares of Ramaco Resources by 226.1% during the first quarter. Arkfeld Wealth Strategies L.L.C. now owns 133,502 shares of the energy company’s stock valued at $2,111,000 after buying an additional 92,567 shares during the period. Global Trust Asset Management LLC boosted its holdings in Ramaco Resources by 2,071.7% in the first quarter. Global Trust Asset Management LLC now owns 7,058 shares of the energy company’s stock worth $119,000 after acquiring an additional 6,733 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in Ramaco Resources in the fourth quarter worth about $632,000. Vanguard Group Inc. lifted its holdings in shares of Ramaco Resources by 6.2% during the fourth quarter. Vanguard Group Inc. now owns 1,460,553 shares of the energy company’s stock worth $25,092,000 after purchasing an additional 85,183 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Ramaco Resources by 46.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 91,066 shares of the energy company’s stock worth $1,565,000 after purchasing an additional 29,015 shares during the period. Hedge funds and other institutional investors own 74.49% of the company’s stock.

Ramaco Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a $0.138 dividend. This is a positive change from Ramaco Resources’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.55 dividend on an annualized basis and a yield of 3.38%. Ramaco Resources’s dividend payout ratio (DPR) is presently 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.