Ramaco Resources Inc (NASDAQ:METC) price closed higher on Friday, November 17, jumping 2.77% above its previous close.
A look at the daily price movement shows that the last close reads $16.63, with intraday deals fluctuated between $15.90 and $17.21. The company’s 5Y monthly beta was ticking 1.00 while its P/E ratio in the trailing 12-month period read 11.89. Taking into account the 52-week price action we note that the stock hit a 52-week high of $19.94 and 52-week low of $5.94. The stock added 38.49% on its value in the past month.
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Ramaco Resources Inc, which has a market valuation of $900.47 million, is expected to release its quarterly earnings report Nov 08, 2023. The company stock has a Forward Dividend ratio of 0.50, while the dividend yield is 2.93%. It is understandable that investor optimism is growing ahead of the company’s current quarter results. Analysts tracking METC have forecast the quarterly EPS to grow by 0.6 per share this quarter, while the same analysts predict the annual EPS to hit $1.8 for the year 2023 and up to $2.14 for 2024. In this case, analysts estimate an annual EPS growth of -30.80% for the year and 18.90% for the next year.
On average, analysts have forecast the company’s revenue for the quarter will hit $176.22 million, with the likely lows of $162 million and highs of $185.7 million. The average estimate suggests sales growth for the quarter will likely rise by 30.30% when compared to those recorded in the same quarter in the last financial year. Staying with the analyst view, there is a consensus estimate of $667.08 million for the company’s annual revenue in 2023. Per this projection, the revenue is forecast to grow 17.90% above that which the company brought in 2023.
Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with no upward and no downward reviews. On the technical perspective front, indicators give METC a short term outlook of 100% Buy on average. Looking at the stock’s medium term indicators we note that it is averaging as a 100% Buy, while an average of long term indicators are currently assigning the stock as 100% Buy.
If we dive deeper into the stock’s performance we see the positive picture represented by the PEG ratio, currently standing at 2.81. The overview shows that METC’s price is at present 26.01% off the SMA20 and 51.46% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 71.36, with weekly volatility standing at 11.35%. The indicator jumps to 8.09% when calculated based on the past 30 days. Ramaco Resources Inc (NASDAQ:METC)’s beta value is holding at 1.21, while the average true range (ATR) indicator is currently reading 1.27.
Turning out attention to how the Ramaco Resources Inc stock has performed in comparison to its peers in the industry, here’s what we find: METC’s stock is 2.77% on the day and 91.17% in the past 12 months. Turning out attention to how the Ramaco Resources Inc stock has performed in comparison to its peers in the industry, here’s what we find: METC’s stock is 2.77% on the day and 91.17% in the past 12 months. As for Ramaco Resources Inc, the P/E ratio stands at 11.89 higher than that of Adaro Energy’s at 2.86 and Yancoal Australia Ltd.’s 2.31. Elsewhere in the market, the S&P 500 Index has rallied 0.13% in last trading session, with the Dow Jones Industrial also saw a positive session on the day with 0.01%.
An analysis of the Ramaco Resources Inc (NASDAQ:METC) stock in terms of its daily trading volume indicates that the 3-month average is 688.57K. However, this figure increases on the past 10-day timeline to an average of 2.55 million.
Current records show that the company has 44.16M in outstanding shares. The insiders’ percentage holdings are 36.46% of outstanding shares while the percentage share held by institutions stands at 22.90%. The stats also highlight that short interest as of Oct 30, 2023, stood at 1.12 million shares, which puts the short ratio at the time at 2.72. From this we can glean that short interest is 2.12% of company’s current outstanding shares. Notably, we see that shares short in October rose slightly given the previous month’s figure stood at 1.0 million. But the 137.72% upside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.
