Ramaco Resources, Inc. (NASDAQ:METC) Declares Quarterly Dividend of $0.07

Ramaco Resources, Inc. (NASDAQ:METC) declared a quarterly dividend on Tuesday, May 27th, RTT News reports. Investors of record on Friday, May 30th will be given a dividend of 0.0688 per share by the energy company on Friday, June 13th. This represents a $0.28 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date is Friday, May 30th.

Ramaco Resources has a payout ratio of 22.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Ramaco Resources to earn $0.49 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 57.1%.

Ramaco Resources Stock Performance

NASDAQ METC opened at $9.40 on Wednesday. The firm has a 50-day moving average price of $8.96 and a two-hundred day moving average price of $9.96. Ramaco Resources has a 12-month low of $6.30 and a 12-month high of $15.49. The company has a market capitalization of $514.22 million, a P/E ratio of 14.46 and a beta of 1.28. The company has a quick ratio of 0.86, a current ratio of 1.35 and a debt-to-equity ratio of 0.23.

Ramaco Resources (NASDAQ:METC) last announced its quarterly earnings data on Monday, May 12th. The energy company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.10. The firm had revenue of $115.61 million during the quarter, compared to analysts’ expectations of $137.10 million. Ramaco Resources had a return on equity of 10.17% and a net margin of 5.35%. The company’s quarterly revenue was down 22.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.23 EPS. Analysts anticipate that Ramaco Resources will post 0.05 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Benchmark reduced their price target on shares of Ramaco Resources from $18.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday, May 13th. B. Riley cut their target price on Ramaco Resources from $18.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Finally, Wall Street Zen lowered Ramaco Resources from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd.

Insider Buying and Selling at Ramaco Resources

In related news, major shareholder Yorktown Xi Associates Llc sold 89,501 shares of the business’s stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $8.09, for a total value of $724,063.09. Following the sale, the insider now owns 1,024,870 shares of the company’s stock, valued at $8,291,198.30. The trade was a 8.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Yorktown Energy Partners Xi, L sold 83,871 shares of the stock in a transaction on Friday, March 21st. The shares were sold at an average price of $8.61, for a total value of $722,129.31. Following the completion of the sale, the insider now owns 1,059,909 shares of the company’s stock, valued at $9,125,816.49. The trade was a 7.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 922,582 shares of company stock worth $7,898,023 over the last quarter. Corporate insiders own 36.20% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Ramaco Resources stock. Empowered Funds LLC increased its stake in Ramaco Resources, Inc. (NASDAQ:METC) by 1.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 123,110 shares of the energy company’s stock after acquiring an additional 2,223 shares during the quarter. Empowered Funds LLC owned about 0.28% of Ramaco Resources worth $1,013,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 74.49% of the company’s stock.

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.