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

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

Ramaco Resources (NASDAQ:METC) last released its 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 business had revenue of $202.73 million during the quarter, compared to analyst estimates of $182.60 million. Ramaco Resources had a net margin of 11.87% and a return on equity of 24.28%.

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

Ramaco Resources Stock Performance

METC traded up $0.17 during midday trading on Wednesday, reaching $16.34. The company’s stock had a trading volume of 570,701 shares, compared to its average volume of 954,834. The stock has a market cap of $723.21 million, a P/E ratio of 9.60 and a beta of 1.15. The company has a fifty day simple moving average of $17.26 and a 200 day simple moving average of $16.35. The company has a current ratio of 1.12, a quick ratio of 0.90 and a debt-to-equity ratio of 0.10. Ramaco Resources has a twelve month low of $7.26 and a twelve month high of $22.70.

Ramaco Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a dividend of $0.138 per share. This represents a $0.55 annualized dividend and a dividend yield of 3.38%. The ex-dividend date was Thursday, February 29th. This is a positive change from Ramaco Resources’s previous quarterly dividend of $0.13. Ramaco Resources’s dividend payout ratio (DPR) is presently 31.61%.

Institutional Trading of Ramaco Resources

Several institutional investors have recently modified their holdings of the company. Arkfeld Wealth Strategies L.L.C. grew its holdings in shares of Ramaco Resources by 226.1% during the 1st quarter. Arkfeld Wealth Strategies L.L.C. now owns 133,502 shares of the energy company’s stock worth $2,111,000 after purchasing an additional 92,567 shares in the last quarter. Global Trust Asset Management LLC boosted 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 acquired a new stake in Ramaco Resources in the 4th quarter valued at $632,000. Vanguard Group Inc. boosted 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. boosted 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 valued at $1,565,000 after buying an additional 29,015 shares in the last quarter. Institutional investors and hedge funds own 74.49% of the company’s stock.

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.