Q1 2024 EPS Estimates for Ramaco Resources, Inc. (NASDAQ:METC) Cut by Analyst

Ramaco Resources, Inc. (NASDAQ:METC) – Equities researchers at B. Riley lowered their Q1 2024 EPS estimates for Ramaco Resources in a research note issued to investors on Monday, April 15th. B. Riley analyst L. Pipes now expects that the energy company will earn $0.22 per share for the quarter, down from their previous estimate of $0.32. B. Riley has a “Buy” rating and a $24.00 price objective on the stock. The consensus estimate for Ramaco Resources’ current full-year earnings is $2.37 per share.

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

Ramaco Resources Stock Performance

NASDAQ:METC traded up $0.17 during mid-day trading on Wednesday, hitting $16.34. The company’s stock had a trading volume of 570,701 shares, compared to its average volume of 954,834. The business’s fifty day moving average is $17.26 and its two-hundred day moving average is $16.35. The stock has a market cap of $723.21 million, a price-to-earnings ratio of 9.60 and a beta of 1.15. Ramaco Resources has a 1 year low of $7.26 and a 1 year high of $22.70. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.12 and a quick ratio of 0.90.

Ramaco Resources (NASDAQ:METC) last posted its quarterly earnings results 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 business had revenue of $202.73 million during the quarter, compared to analysts’ expectations of $182.60 million.

Ramaco Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $0.138 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.55 dividend on an annualized basis and a dividend yield of 3.38%. This is an increase from Ramaco Resources’s previous quarterly dividend of $0.13. Ramaco Resources’s dividend payout ratio is 31.61%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Arkfeld Wealth Strategies L.L.C. lifted its stake in Ramaco Resources by 226.1% in the 1st 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 in the last quarter. Global Trust Asset Management LLC lifted its stake in Ramaco Resources by 2,071.7% in the 1st quarter. Global Trust Asset Management LLC now owns 7,058 shares of the energy company’s stock valued at $119,000 after buying an additional 6,733 shares in the last quarter. Quadrature Capital Ltd purchased a new position in Ramaco Resources in the 4th quarter valued at about $632,000. Vanguard Group Inc. lifted its stake in Ramaco Resources by 6.2% in the 4th quarter. Vanguard Group Inc. now owns 1,460,553 shares of the energy company’s stock valued at $25,092,000 after buying an additional 85,183 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Ramaco Resources by 46.8% in the 4th 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 in the last quarter. 74.49% of the stock is owned by hedge funds and other institutional investors.

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.