Ramaco Resources (NASDAQ:METCB) Issues Quarterly Earnings Results

Ramaco Resources (NASDAQ:METCB) posted its quarterly earnings results on Monday. The company reported ($0.30) EPS for the quarter, Zacks reports. Ramaco Resources had a negative net margin of 9.59% and a negative return on equity of 11.36%.

Ramaco Resources Trading Up 1.5%

Shares of NASDAQ METCB traded up $0.16 during midday trading on Monday, hitting $10.69. The stock had a trading volume of 33,749 shares, compared to its average volume of 37,175. The company has a market capitalization of $717.50 million, a price-to-earnings ratio of -10.69 and a beta of 0.91. Ramaco Resources has a 1-year low of $7.13 and a 1-year high of $22.11. The company has a quick ratio of 4.66, a current ratio of 5.46 and a debt-to-equity ratio of 0.95. The company has a fifty day moving average price of $10.92 and a 200 day moving average price of $12.25.

Hedge Funds Weigh In On Ramaco Resources

Several hedge funds and other institutional investors have recently modified their holdings of the company. South Dakota Investment Council lifted its stake in shares of Ramaco Resources by 1.4% in the 4th quarter. South Dakota Investment Council now owns 86,696 shares of the company’s stock valued at $1,019,000 after purchasing an additional 1,227 shares in the last quarter. Bank of America Corp DE lifted its position in Ramaco Resources by 574.4% during the 3rd quarter. Bank of America Corp DE now owns 3,190 shares of the company’s stock worth $54,000 after acquiring an additional 2,717 shares in the last quarter. State Street Corp lifted its position in Ramaco Resources by 14.3% during the 4th quarter. State Street Corp now owns 30,637 shares of the company’s stock worth $360,000 after acquiring an additional 3,831 shares in the last quarter. Millennium Management LLC raised its position in shares of Ramaco Resources by 46.3% in the 4th quarter. Millennium Management LLC now owns 20,608 shares of the company’s stock valued at $242,000 after purchasing an additional 6,519 shares in the last quarter. Finally, XTX Topco Ltd raised its position in shares of Ramaco Resources by 49.2% in the 2nd quarter. XTX Topco Ltd now owns 20,398 shares of the company’s stock valued at $167,000 after purchasing an additional 6,727 shares in the last quarter. 9.63% of the stock is owned by institutional investors and hedge funds.

Ramaco Resources Company Profile

Ramaco Resources (NASDAQ:METCB) is a U.S.-based coal company focused on the exploration, development and production of metallurgical and thermal coal. The company’s operations encompass both surface and underground mining in the central Appalachian Basin, where it seeks to capitalize on the region’s high-quality, low-ash coal reserves. Ramaco’s product portfolio includes metallurgical coking coal used in steelmaking, as well as steam coal for power generation, with an emphasis on meeting the exacting specifications of industrial customers.

Founded in 2014 and headquartered in Houston, Texas, Ramaco Resources has assembled a strategic acreage position in southern West Virginia and southwestern Pennsylvania.