Ramaco Resources (NASDAQ:METCB) Sets New 52-Week High – What’s Next?

Ramaco Resources, Inc. (NASDAQ:METCB)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $21.83 and last traded at $21.67, with a volume of 219072 shares trading hands. The stock had previously closed at $18.32.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of Ramaco Resources in a research report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, Ramaco Resources presently has a consensus rating of “Hold”.

Ramaco Resources Stock Up 18.3%

The stock has a market capitalization of $1.20 billion, a PE ratio of -47.11 and a beta of 0.90. The company has a current ratio of 1.36, a quick ratio of 0.84 and a debt-to-equity ratio of 0.36. The company’s 50-day moving average is $16.39 and its 200 day moving average is $11.54.

Ramaco Resources (NASDAQ:METCB) last issued its quarterly earnings results on Thursday, July 31st. The company reported ($0.29) earnings per share (EPS) for the quarter. Ramaco Resources had a negative net margin of 3.17% and a negative return on equity of 5.70%. The company had revenue of $152.96 million for the quarter.

Ramaco Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, September 5th were issued a dividend of $0.1918 per share. This represents a $0.77 dividend on an annualized basis and a dividend yield of 3.5%. This is a boost from Ramaco Resources’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Friday, September 5th. Ramaco Resources’s dividend payout ratio is presently -167.39%.

Institutional Trading of Ramaco Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in METCB. Bank of America Corp DE raised its stake in shares of Ramaco Resources by 64.6% in the fourth quarter. Bank of America Corp DE now owns 12,516 shares of the company’s stock worth $124,000 after purchasing an additional 4,914 shares during the last quarter. Acuitas Investments LLC boosted its holdings in shares of Ramaco Resources by 1.6% in the 1st quarter. Acuitas Investments LLC now owns 149,900 shares of the company’s stock valued at $1,066,000 after acquiring an additional 2,362 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Ramaco Resources by 7.8% during the 1st quarter. Bank of New York Mellon Corp now owns 25,628 shares of the company’s stock valued at $182,000 after buying an additional 1,848 shares during the last quarter. XTX Topco Ltd acquired a new stake in Ramaco Resources during the first quarter worth about $97,000. Finally, Nuveen LLC acquired a new position in shares of Ramaco Resources in the 1st quarter valued at $79,000. Institutional investors and hedge funds own 9.63% 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.