Ramaco Resources, Inc. (NASDAQ:METC) to Post Q2 2024 Earnings of $0.04 Per Share, B. Riley Forecasts

Ramaco Resources, Inc. (NASDAQ:METC) – Research analysts at B. Riley lowered their Q2 2024 earnings estimates for shares of Ramaco Resources in a report released on Monday, April 15th. B. Riley analyst L. Pipes now forecasts that the energy company will post earnings per share of $0.04 for the quarter, down from their prior estimate of $0.43. 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. B. Riley also issued estimates for Ramaco Resources’ Q3 2024 earnings at $0.58 EPS, Q4 2024 earnings at $0.66 EPS and FY2024 earnings at $1.50 EPS.

Separately, UBS Group started coverage on Ramaco Resources in a 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, Ramaco Resources has an average rating of “Moderate Buy” and a consensus target price of $17.90.

Ramaco Resources Price Performance

METC stock opened at $15.65 on Thursday. The stock has a 50-day simple moving average of $17.24 and a 200-day simple moving average of $16.35. The firm has a market cap of $692.67 million, a P/E ratio of 8.99 and a beta of 1.15. 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 1 year low of $7.26 and a 1 year high of $22.70.

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

Institutional Investors Weigh In On Ramaco Resources

Hedge funds have recently bought and sold shares of the business. Archer Investment Corp acquired a new position in shares of Ramaco Resources in the 4th quarter valued at approximately $26,000. Global Retirement Partners LLC acquired a new stake in Ramaco Resources in the fourth quarter valued at $36,000. Point72 Middle East FZE bought a new position in Ramaco Resources during the 4th quarter valued at $44,000. Barclays PLC grew its holdings in Ramaco Resources by 532.9% during the 4th quarter. Barclays PLC now owns 6,019 shares of the energy company’s stock worth $53,000 after acquiring an additional 5,068 shares in the last quarter. Finally, Ensign Peak Advisors Inc acquired a new position in Ramaco Resources during the 3rd quarter worth $55,000. Institutional investors and hedge funds 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. Stockholders 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 an increase from Ramaco Resources’s previous quarterly dividend of $0.13. This represents a $0.55 annualized dividend and a dividend yield of 3.53%. Ramaco Resources’s dividend payout ratio (DPR) is currently 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.