Why Ramaco Resources Stock Is Ripping Higher
Portfolio Pulse from Adam Eckert
Ramaco Resources Inc (NASDAQ:METC) shares are trading higher after the company updated its third-quarter guidance. The company now expects adjusted third-quarter earnings to be between 42 cents and 45 cents per share, a potential increase of 160% compared to the second quarter. The company also expects to ship 996,000 tons of coal during the third quarter, up about 39% from the prior quarter. Ramaco's board declared a cash dividend of $0.125 per share of Class A common stock and $0.2487 per share of Class B common stock.
October 17, 2023 | 3:34 pm
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POSITIVE IMPACT
Ramaco Resources' updated Q3 guidance and declaration of dividends has led to a surge in its stock price. The company's positive outlook for Q3 and the rest of the year is likely to continue driving its stock price up in the short term.
The company's updated guidance indicates a significant increase in earnings and coal shipments, which is a positive signal to investors. The declaration of dividends also adds to the attractiveness of the stock, leading to increased demand and a higher stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100