Q3 2024 EPS Estimates for Ramaco Resources, Inc. Decreased by B. Riley (NASDAQ:METC)

Ramaco Resources, Inc. (NASDAQ:METC) – Analysts at B. Riley cut their Q3 2024 earnings per share (EPS) estimates for Ramaco Resources in a note issued to investors on Tuesday, September 17th. B. Riley analyst L. Pipes now expects that the energy company will earn ($0.07) per share for the quarter, down from their prior forecast of $0.24. B. Riley has a “Buy” rating and a $18.00 price objective on the stock. The consensus estimate for Ramaco Resources’ current full-year earnings is $1.44 per share. B. Riley also issued estimates for Ramaco Resources’ Q4 2024 earnings at $0.13 EPS, FY2025 earnings at $1.61 EPS and FY2026 earnings at $1.53 EPS.

Separately, Benchmark reissued a “buy” rating and set a $20.00 target price on shares of Ramaco Resources in a research note on Thursday, August 29th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Ramaco Resources presently has an average rating of “Moderate Buy” and a consensus target price of $16.70.

Ramaco Resources Stock Performance

NASDAQ:METC opened at $10.14 on Friday. The company has a 50-day moving average of $12.08 and a 200-day moving average of $13.94. The firm has a market cap of $448.83 million, a price-to-earnings ratio of 8.67 and a beta of 1.05. The company has a current ratio of 1.33, a quick ratio of 0.90 and a debt-to-equity ratio of 0.23. Ramaco Resources has a twelve month low of $8.72 and a twelve month high of $22.70.

Ramaco Resources (NASDAQ:METC) last released its earnings results on Wednesday, August 7th. The energy company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.23. Ramaco Resources had a return on equity of 16.30% and a net margin of 7.95%. The firm had revenue of $155.32 million for the quarter, compared to analyst estimates of $141.66 million.

Ramaco Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a dividend of $0.138 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.55 annualized dividend and a yield of 5.44%. Ramaco Resources’s payout ratio is presently 47.01%.

Institutional Trading of Ramaco Resources

Hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted 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 buying an additional 245,924 shares during the period. Vanguard Group Inc. increased its holdings in shares of Ramaco Resources by 8.9% in the 1st quarter. Vanguard Group Inc. now owns 1,591,146 shares of the energy company’s stock valued at $26,795,000 after purchasing an additional 130,593 shares during the period. Marshall Wace LLP lifted its position in shares of Ramaco Resources by 287.2% in the second quarter. Marshall Wace LLP now owns 125,565 shares of the energy company’s stock worth $1,563,000 after purchasing an additional 93,139 shares in the last quarter. Arkfeld Wealth Strategies L.L.C. boosted its holdings in shares of Ramaco Resources by 226.1% during the first quarter. Arkfeld Wealth Strategies L.L.C. now owns 133,502 shares of the energy company’s stock worth $2,111,000 after purchasing an additional 92,567 shares during the period. Finally, American Century Companies Inc. increased its stake in Ramaco Resources by 14.9% in the 2nd quarter. American Century Companies Inc. now owns 694,615 shares of the energy company’s stock valued at $8,648,000 after buying an additional 90,014 shares during the period. 74.49% of the stock is owned by hedge funds and other institutional investors.

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.