Ramaco Resources Target of Unusually Large Options Trading (NASDAQ:METC)

Ramaco Resources, Inc. (NASDAQ:METC) was the target of unusually large options trading activity on Monday. Traders acquired 3,782 call options on the company. This is an increase of 87% compared to the average daily volume of 2,024 call options.

Ramaco Resources Price Performance

Shares of METC stock opened at $9.98 on Wednesday. Ramaco Resources has a 12-month low of $6.24 and a 12-month high of $15.35. The company has a quick ratio of 0.87, a current ratio of 1.32 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $545.91 million, a price-to-earnings ratio of -124.75 and a beta of 1.29. The firm has a fifty day moving average of $10.01 and a 200-day moving average of $9.62.

Ramaco Resources (NASDAQ:METC) last released its quarterly earnings results 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. Ramaco Resources had a negative net margin of 0.05% and a negative return on equity of 0.08%. The company had revenue of $115.61 million during the quarter, compared to analysts’ expectations of $137.10 million. During the same quarter in the prior year, the company earned $0.23 earnings per share. The business’s quarterly revenue was down 22.0% compared to the same quarter last year. On average, equities research analysts forecast that Ramaco Resources will post 0.05 earnings per share for the current year.

Ramaco Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were paid a dividend of $0.0688 per share. The ex-dividend date was Friday, May 30th. This represents a $0.28 annualized dividend and a dividend yield of 2.76%. Ramaco Resources’s dividend payout ratio is currently -350.00%.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Ramaco Resources

Several hedge funds and other institutional investors have recently added to or reduced their stakes in METC. Brooklyn Investment Group bought a new stake in Ramaco Resources during the first quarter worth $25,000. AlphaQuest LLC bought a new position in Ramaco Resources during the 4th quarter worth $50,000. Campbell Capital Management Inc. bought a new position in Ramaco Resources during the fourth quarter worth about $51,000. Jones Financial Companies Lllp acquired a new position in shares of Ramaco Resources during the 4th quarter worth approximately $56,000. Finally, State of Wyoming bought a new position in Ramaco Resources during the 1st quarter worth $50,000. 74.49% of the stock is currently owned by institutional investors and hedge funds.

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.