Ramaco Resources (NASDAQ:METC) Announces Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Ramaco Resources (NASDAQ:METC) released its quarterly earnings results on Tuesday. The energy company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.01), Zacks reports. Ramaco Resources had a negative net margin of 11.52% and a negative return on equity of 13.44%.

Ramaco Resources Trading Up 8.3%

Shares of NASDAQ METC traded up $0.74 during mid-day trading on Tuesday, hitting $9.64. The stock had a trading volume of 3,806,218 shares, compared to its average volume of 2,044,973. The business has a 50 day moving average price of $13.18 and a two-hundred day moving average price of $15.16. Ramaco Resources has a 1 year low of $8.56 and a 1 year high of $57.80. The firm has a market cap of $628.34 million, a P/E ratio of -8.76 and a beta of 1.37. The company has a debt-to-equity ratio of 1.06, a quick ratio of 3.93 and a current ratio of 4.88.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Ramaco Resources in a research note on Thursday, June 18th. The Goldman Sachs Group lowered their price objective on shares of Ramaco Resources from $16.00 to $13.00 and set a “neutral” rating on the stock in a research report on Thursday, July 9th. B. Riley Financial lowered their price target on shares of Ramaco Resources from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Wednesday, May 13th. Morgan Stanley dropped their price target on shares of Ramaco Resources from $17.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 8th. Finally, Zacks Research lowered shares of Ramaco Resources from a “hold” rating to a “strong sell” rating in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Ramaco Resources presently has an average rating of “Hold” and a consensus price target of $26.43.

Hedge Funds Weigh In On Ramaco Resources

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

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.