Ramaco Resources (NASDAQ:METC) Posts Quarterly Earnings Results, Misses Estimates By $0.08 EPS

Ramaco Resources (NASDAQ:METC) issued its quarterly earnings data on Tuesday. The energy company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.08), FiscalAI reports. The business had revenue of $150.09 million during the quarter, compared to the consensus estimate of $140.23 million. Ramaco Resources had a negative return on equity of 13.54% and a negative net margin of 11.98%.

Ramaco Resources Price Performance

NASDAQ:METC traded up $0.15 during trading hours on Tuesday, hitting $6.74. 2,911,879 shares of the stock traded hands, compared to its average volume of 2,079,898. The company has a quick ratio of 3.31, a current ratio of 4.23 and a debt-to-equity ratio of 1.23. Ramaco Resources has a 1 year low of $6.38 and a 1 year high of $28.67. The company has a market cap of $427.25 million, a price-to-earnings ratio of -6.30 and a beta of 1.64. The stock has a 50 day moving average price of $9.65 and a 200 day moving average price of $13.46.

Analyst Ratings Changes

A number of analysts have commented on METC shares. Weiss Ratings cut shares of Ramaco Resources from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, August 6th. Morgan Stanley dropped their price target on shares of Ramaco Resources from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 18th. The Goldman Sachs Group cut their price objective on shares of Ramaco Resources from $11.00 to $8.00 and set a “neutral” rating for the company in a research report on Friday, October 23rd. Zacks Research upgraded Ramaco Resources from a “strong sell” rating to a “hold” rating in a research note on Friday, October 16th. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of Ramaco Resources in a report on Tuesday, August 18th. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $18.33.

Insider Buying and Selling at Ramaco Resources

In other news, major shareholder Discovery Capital Management, sold 500,000 shares of the stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $9.57, for a total value of $4,785,000.00. Following the completion of the sale, the insider directly owned 4,811,360 shares of the company’s stock, valued at $46,044,715.20. This represents a 9.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 46.07% of the stock is currently owned by insiders.

Ramaco Resources Company Profile

Ramaco Resources, Inc is a coal producer focused primarily on the development and operation of metallurgical coal mines. Its metallurgical coal is used by steelmakers in the production of coke, a key input in traditional steel manufacturing. The company also produces and sells thermal coal and related coal products where commercially appropriate.

Ramaco Resources operates mining assets in the Central Appalachian region of the United States, including properties in southern West Virginia and Virginia, and owns the Brook Mine development in Sheridan, Wyoming.