Shares of Ramaco Resources (NASDAQ:METC) fell 4.5%

Shares of Ramaco Resources, Inc. (NASDAQ:METC – Get Free Report ) traded down 4.5% during mid-day trading on Thursday. The stock traded as high as $11.56 and last traded at $11.57. 44,202 shares traded hands during trading, down 94% from the session’s average volume of 744,037 shares. Shares previously closed at $12.12.

Analysts set new price targets

Several equities analysts recently issued reports on the stock. B. Riley reduced their price objective on shares of Ramaco Resources from $24.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Benchmark reaffirmed a “buy” rating and set a $20.00 target price on shares of Ramaco Resources in a research note on Friday, August 9th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Moderate Buy” and an average target price of $17.50, according to MarketBeat .

Check out our latest analysis of Ramaco’s resources

Ramaco Resources stock performance

The company has a quick ratio of 0.95, a current ratio of 1.23, and a debt-to-equity ratio of 0.18. The company has a market cap of $522.30 million, a PE ratio of 10.09 and a beta of 1.09. The stock’s 50-day simple moving average is $13.14, and its two-hundred-day simple moving average is $14.96.

Ramaco Resources announces dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be paid a dividend of $0.138 per share. This represents a dividend of $0.55 on an annualized basis and a yield of 4.68%. The ex-dividend date of this dividend is Friday, August 30. Ramaco Resources’ dividend payout ratio is currently 47.01%.

Insider trading at Ramaco Resources

In other Ramaco Resources news, General Counsel Evan H. Jenkins purchased 7,158 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were bought at an average price of $13.97 per share, with a total value of $99,997.26. Following the completion of the transaction, the general counsel now directly owns 23,480 shares of the company’s stock, valued at $328,015.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC’s website. Company insiders own 45.98% of the company’s shares.

Institutional investors intervene in Ramaco’s resources

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Ramaco Resources by 8.9% in the first quarter. Vanguard Group Inc. now owns 1,591,146 shares of the energy company’s stock worth $26,795,000 after purchasing an additional 130,593 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Ramaco Resources by 21.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,380,601 shares of the energy company’s stock worth $17,186,000 after acquiring an additional 245,924 shares during the last quarter. American Century Companies Inc. raised its holdings in Ramaco Resources by 14.9% during the second quarter. American Century Companies Inc. now owns 694,615 shares of the energy company’s stock valued at $8,648,000 after purchasing an additional 90,014 shares during the last quarter. Millennium Management LLC raised its holdings in Ramaco Resources by 22.4% during the 2nd quarter. Millennium Management LLC now owns 435,007 shares of the energy company’s stock valued at $5,416,000 after purchasing an additional 79,687 shares in the last quarter . Finally, Bank of New York Mellon Corp boosted its holdings in Ramaco Resources by 5.0% during the second quarter. Bank of New York Mellon Corp now owns 383,422 shares of the energy company’s stock valued at $4,774,000 after buying an additional 18,393 shares in the last quarter. Institutional investors and hedge funds own 74.49% of the company’s shares.

About Ramaco Resources

(Get a free report)

Ramaco Resources, Inc is engaged in the development, operation and sale of metallurgical coal. Its development portfolio includes the approximately 20,200-acre Elk Creek project located in southern West Virginia; the Berwind property covering approximately 62,500 acres located on the West Virginia-Virginia border; the Knox Creek property, which covers an area of ​​approximately 64,050 acres, is located in Virginia; the Maben property covering approximately 28,000 acres located in southwestern Pennsylvania, southern West Virginia; and the Brook Mine property covering approximately 16,000 acres located in northeastern Wyoming.

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