Ramaco Resources (NASDAQ:METC) Issues Earnings Results

Ramaco Resources (NASDAQ:METC) announced its earnings results on Monday. The energy company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.02, Zacks reports. Ramaco Resources had a return on equity of 10.17% and a net margin of 5.35%.

Ramaco Resources Stock Performance

NASDAQ:METC opened at $9.65 on Monday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.86 and a current ratio of 1.35. Ramaco Resources has a 52-week low of $6.30 and a 52-week high of $15.49. The firm has a market cap of $428.49 million, a price-to-earnings ratio of 14.96 and a beta of 1.28. The business’s fifty day moving average is $8.99 and its 200 day moving average is $10.09.

Ramaco Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be paid a dividend of $0.0688 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.85%. Ramaco Resources’s payout ratio is 245.45%.

Insider Transactions at Ramaco Resources

In other Ramaco Resources news, major shareholder Yorktown Energy Partners Xi, L sold 83,871 shares of the company’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $8.61, for a total value of $722,129.31. Following the transaction, the insider now directly owns 1,059,909 shares in the company, valued at $9,125,816.49. This represents a 7.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Peter A. Leidel sold 225,000 shares of the stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $8.08, for a total value of $1,818,000.00. Following the transaction, the director now owns 677,403 shares in the company, valued at $5,473,416.24. This trade represents a 24.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 922,582 shares of company stock valued at $7,898,023. 41.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

METC has been the topic of several analyst reports. B. Riley cut their target price on Ramaco Resources from $18.00 to $14.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. Benchmark reiterated a “buy” rating on shares of Ramaco Resources in a research note on Wednesday, March 12th.

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.