Ramaco Resources (NASDAQ:METC) Posts Quarterly Earnings Results, Hits Estimates

Ramaco Resources (NASDAQ:METC) released its quarterly earnings data on Tuesday. The energy company reported $0.26 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.26, Morningstar.com reports. The business had revenue of $65.76 million during the quarter, compared to analysts’ expectations of $62.03 million. Ramaco Resources had a return on equity of 19.16% and a net margin of 11.65%.

Shares of NASDAQ:METC traded down $0.43 on Wednesday, hitting $3.33. 501 shares of the company’s stock were exchanged, compared to its average volume of 71,095. The stock’s 50-day moving average is $4.88. The stock has a market capitalization of $146.59 million, a P/E ratio of 5.27 and a beta of 1.09. Ramaco Resources has a 1-year low of $3.50 and a 1-year high of $8.94. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.55 and a quick ratio of 1.05.

Several large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in shares of Ramaco Resources by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 68,665 shares of the energy company’s stock valued at $339,000 after purchasing an additional 1,849 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Ramaco Resources by 24.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 34,809 shares of the energy company’s stock valued at $186,000 after purchasing an additional 6,870 shares during the period. Northwestern Mutual Investment Management Company LLC acquired a new stake in shares of Ramaco Resources in the 1st quarter valued at about $46,000. Bank of New York Mellon Corp boosted its position in shares of Ramaco Resources by 13.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 91,335 shares of the energy company’s stock valued at $486,000 after purchasing an additional 11,000 shares during the period. Finally, Steward Partners Investment Advisory LLC acquired a new stake in shares of Ramaco Resources in the 2nd quarter valued at about $60,000. 76.38% of the stock is owned by institutional investors and hedge funds.



Several research firms have recently issued reports on METC. ValuEngine cut Ramaco Resources from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 18th. Jefferies Financial Group cut Ramaco Resources from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $8.50 to $5.00 in a research report on Tuesday, August 6th. Zacks Investment Research cut Ramaco Resources from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Finally, TheStreet cut Ramaco Resources from a “c” rating to a “d” rating in a research report on Monday, August 5th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $7.33.

About Ramaco Resources

Ramaco Resources, Inc produces and sells metallurgical coal in the United States. The company's development portfolio includes the Elk Creek project consisting of approximately 20,552 acres of controlled mineral and 24 seams located in southern West Virginia; and the Berwind coal property comprising approximately 31,200 acres of controlled mineral and an area of Squire Jim seam coal deposits, which is situated on the border of West Virginia and Virginia.

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Earnings History for Ramaco Resources (NASDAQ:METC)

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