Q2 2024 EPS Estimates for Ramaco Resources, Inc. (NASDAQ:METC) Decreased by Analyst

Ramaco Resources, Inc. (NASDAQ:METC) – Equities research analysts at B. Riley lowered their Q2 2024 earnings per share 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 earn $0.04 per share for the quarter, down from their previous estimate of $0.43. 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 $1.59 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 assumed coverage on Ramaco Resources in a research note on Tuesday, January 16th. They set a “neutral” rating and a $21.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $17.90.

Ramaco Resources Trading Down 0.4 %

Shares of METC stock opened at $15.59 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.12 and a quick ratio of 0.90. The company has a market cap of $690.01 million, a price-to-earnings ratio of 8.96 and a beta of 1.15. The stock has a 50 day simple moving average of $17.23 and a 200-day simple moving average of $16.38. Ramaco Resources has a 1-year low of $7.26 and a 1-year high of $22.70.

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

Institutional Trading of Ramaco Resources

Hedge funds and other institutional investors have recently modified their holdings of the stock. Archer Investment Corp acquired a new stake in shares of Ramaco Resources in the 4th quarter worth $26,000. Global Retirement Partners LLC purchased a new position in shares of Ramaco Resources during the 4th quarter worth $36,000. Point72 Middle East FZE purchased a new position in shares of Ramaco Resources during the 4th quarter worth $44,000. Barclays PLC grew its holdings in shares of 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 purchasing an additional 5,068 shares during the period. Finally, Ensign Peak Advisors Inc purchased a new position in shares of Ramaco Resources during the 3rd quarter worth $55,000. 74.49% of the stock is owned by institutional investors and hedge funds.

Ramaco Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a $0.138 dividend. This is an increase from Ramaco Resources’s previous quarterly dividend of $0.13. This represents a $0.55 annualized dividend and a yield of 3.54%. The ex-dividend date of this dividend was Thursday, February 29th. Ramaco Resources’s dividend payout ratio is currently 31.61%.

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.