Ramaco Resources (NASDAQ:METC) Releases Earnings Results, Misses Expectations By $0.08 EPS

Ramaco Resources (NASDAQ:METC) issued its earnings results on Monday. The energy company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.08), FiscalAI reports. Ramaco Resources had a negative net margin of 11.52% and a negative return on equity of 13.32%. The firm had revenue of $101.41 million during the quarter, compared to the consensus estimate of $129.72 million. During the same period in the previous year, the company posted ($0.20) earnings per share. The firm’s revenue for the quarter was down 9.7% compared to the same quarter last year.

Ramaco Resources Stock Performance

Shares of NASDAQ:METC traded down $1.35 on Wednesday, reaching $15.16. 1,611,569 shares of the company’s stock were exchanged, compared to its average volume of 2,262,851. The company has a fifty day moving average of $14.61 and a 200-day moving average of $18.03. Ramaco Resources has a twelve month low of $8.51 and a twelve month high of $57.80. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of -13.83 and a beta of 1.31. The company has a current ratio of 5.46, a quick ratio of 4.66 and a debt-to-equity ratio of 0.95.

Insider Activity

In other Ramaco Resources news, major shareholder Discovery Capital Management, sold 200,000 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $14.79, for a total transaction of $2,958,000.00. Following the transaction, the insider owned 5,311,360 shares in the company, valued at $78,555,014.40. This represents a 3.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 36.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in METC. Bridgeway Capital Management LLC boosted its position in shares of Ramaco Resources by 0.4% during the 3rd quarter. Bridgeway Capital Management LLC now owns 122,998 shares of the energy company’s stock worth $4,082,000 after acquiring an additional 536 shares in the last quarter. Allworth Financial LP boosted its position in shares of Ramaco Resources by 3,603.6% during the 3rd quarter. Allworth Financial LP now owns 1,037 shares of the energy company’s stock worth $34,000 after acquiring an additional 1,009 shares in the last quarter. Advisory Services Network LLC acquired a new stake in shares of Ramaco Resources during the 3rd quarter worth approximately $38,000. Police & Firemen s Retirement System of New Jersey boosted its position in shares of Ramaco Resources by 16.0% during the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 9,549 shares of the energy company’s stock worth $172,000 after acquiring an additional 1,317 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of Ramaco Resources by 51.4% during the 4th quarter. Russell Investments Group Ltd. now owns 3,917 shares of the energy company’s stock worth $71,000 after acquiring an additional 1,330 shares in the last quarter. Institutional investors and hedge funds own 74.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on METC shares. Robert W. Baird decreased their price target on shares of Ramaco Resources from $30.00 to $25.00 and set an “outperform” rating on the stock in a research note on Wednesday. Jefferies Financial Group upgraded shares of Ramaco Resources from a “hold” rating to a “buy” rating and decreased their price target for the company from $33.00 to $30.00 in a research note on Tuesday, January 20th. Morgan Stanley decreased their price target on shares of Ramaco Resources from $17.50 to $17.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 9th. Zacks Research upgraded shares of Ramaco Resources from a “strong sell” rating to a “hold” rating in a research note on Friday, April 10th. Finally, The Goldman Sachs Group upgraded shares of Ramaco Resources from a “sell” rating to a “neutral” rating and upped their price target for the company from $14.00 to $15.00 in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $31.29.

Ramaco Resources Company Profile

Ramaco Resources, Inc (NASDAQ:METC) is a U.S.-based producer of premium metallurgical coal and industrial minerals, focused on supplying the steel and allied industries. The company’s operations are centered in the Appalachian region of West Virginia, where it develops, mines and processes high-carbon coal products designed to meet the quality requirements of blast‐furnace and electric‐arc furnace steelmakers.

The firm’s flagship asset is the Elk Creek underground mine in Wyoming County, West Virginia, which began commercial production in 2019 and delivers a range of high‐grade metallurgical and anthracite coals.