Ramaco Resources (NASDAQ:METC) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Ramaco Resources (NASDAQ:METCGet Rating) from a buy rating to a hold rating in a research report released on Wednesday morning, Zacks.com reports.

According to Zacks, “Ramaco Resources Inc. is an operator and developer of metallurgical coal primarily in southern West Virginia, southwestern Virginia and southwestern Pennsylvania. It operates principally in Charleston, West Virginia. Ramaco Resources Inc. is based in Lexington, Kentucky. “

METC has been the topic of several other reports. Jefferies Financial Group increased their target price on Ramaco Resources from $16.00 to $19.00 and gave the stock a hold rating in a research report on Wednesday, March 9th. B. Riley raised their price objective on Ramaco Resources from $20.00 to $22.00 in a report on Thursday, February 3rd. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Ramaco Resources presently has a consensus rating of Hold and a consensus target price of $19.00.

NASDAQ METC opened at $16.44 on Wednesday. The business’s 50-day moving average price is $16.38 and its 200 day moving average price is $14.58. Ramaco Resources has a twelve month low of $4.70 and a twelve month high of $21.73. The company has a market capitalization of $727.80 million, a PE ratio of 9.50 and a beta of 1.03. The company has a current ratio of 1.86, a quick ratio of 1.52 and a debt-to-equity ratio of 0.19.

Ramaco Resources (NASDAQ:METCGet Rating) last released its earnings results on Thursday, February 24th. The energy company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.05. Ramaco Resources had a return on equity of 39.18% and a net margin of 19.52%. The firm had revenue of $87.51 million for the quarter, compared to the consensus estimate of $88.47 million. During the same period in the prior year, the business posted ($0.11) earnings per share. Equities analysts predict that Ramaco Resources will post 6.38 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 15th. Stockholders of record on Wednesday, June 1st will be issued a $0.113 dividend. This represents a $0.45 dividend on an annualized basis and a dividend yield of 2.75%. This is an increase from Ramaco Resources’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Tuesday, May 31st. Ramaco Resources’s dividend payout ratio (DPR) is 26.01%.

Institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in shares of Ramaco Resources by 533.0% in the first quarter. JPMorgan Chase & Co. now owns 959,504 shares of the energy company’s stock valued at $15,160,000 after buying an additional 807,921 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Ramaco Resources in the first quarter valued at about $7,966,000. Prudential Financial Inc. acquired a new stake in shares of Ramaco Resources in the first quarter valued at about $5,862,000. Marshall Wace LLP grew its stake in shares of Ramaco Resources by 632.4% in the third quarter. Marshall Wace LLP now owns 229,686 shares of the energy company’s stock valued at $2,827,000 after buying an additional 198,327 shares in the last quarter. Finally, Two Sigma Advisers LP acquired a new stake in shares of Ramaco Resources in the third quarter valued at about $2,329,000. Institutional investors own 63.30% of the company’s stock.

About Ramaco Resources (Get Rating)

Ramaco Resources, Inc produces and sells metallurgical coal. The company's development portfolio includes the Elk Creek project consisting of approximately 20,200 acres of controlled mineral and 16 seams located in southern West Virginia; the Berwind property comprising approximately 41,300 acres of controlled mineral and an area of Squire Jim seam coal deposits, which is situated on the border of West Virginia and Virginia; the Knox Creek property consisting of approximately 62,100 acres of controlled mineral that is located in Virginia; and the RAM Mine property comprising approximately 1,570 acres of controlled mineral, which is situated in southwestern Pennsylvania.

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