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

Ramaco Resources (NASDAQ:METC) announced its quarterly earnings data 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. The company had revenue of $101.41 million for the quarter, compared to the consensus estimate of $129.72 million. Ramaco Resources had a negative net margin of 9.59% and a negative return on equity of 12.01%.

Ramaco Resources Price Performance

Shares of METC traded up $0.36 during mid-day trading on Monday, hitting $15.17. 1,349,559 shares of the stock were exchanged, compared to its average volume of 2,256,081. The company has a market cap of $1.02 billion, a PE ratio of -15.32 and a beta of 1.31. Ramaco Resources has a 52-week low of $8.21 and a 52-week high of $57.80. The firm has a 50-day moving average of $14.63 and a two-hundred day moving average of $18.61. The company has a debt-to-equity ratio of 0.95, a quick ratio of 4.66 and a current ratio of 5.46.

Wall Street Analyst Weigh In

A number of research analysts recently commented on METC shares. Zacks Research raised Ramaco Resources from a “strong sell” rating to a “hold” rating in a report on Friday, April 10th. Jefferies Financial Group raised Ramaco Resources from a “hold” rating to a “buy” rating and lowered their price target for the stock from $33.00 to $30.00 in a report on Tuesday, January 20th. Robert W. Baird lowered their price target on Ramaco Resources from $40.00 to $30.00 and set an “outperform” rating on the stock in a report on Friday, February 27th. Morgan Stanley lowered their price target on Ramaco Resources from $17.50 to $17.00 and set an “equal weight” rating on the stock in a report on Thursday, April 9th. Finally, The Goldman Sachs Group raised Ramaco Resources from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $14.00 to $15.00 in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $32.00.

Insider Activity

In other news, major shareholder Discovery Capital Management, sold 200,000 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $14.79, for a total transaction of $2,958,000.00. Following the sale, the insider directly owned 5,311,360 shares of the company’s stock, valued at $78,555,014.40. This represents a 3.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 36.20% of the stock is owned by company insiders.

Institutional Trading of Ramaco Resources

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Allworth Financial LP raised its holdings in Ramaco Resources by 3,603.6% during the 3rd quarter. Allworth Financial LP now owns 1,037 shares of the energy company’s stock valued at $34,000 after buying an additional 1,009 shares during the period. Advisory Services Network LLC purchased a new stake in Ramaco Resources during the 3rd quarter valued at $38,000. Quarry LP purchased a new stake in Ramaco Resources during the 4th quarter valued at $27,000. Caitong International Asset Management Co. Ltd raised its holdings in Ramaco Resources by 14,250.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,722 shares of the energy company’s stock valued at $31,000 after buying an additional 1,710 shares during the period. Finally, Sunbelt Securities Inc. raised its holdings in Ramaco Resources by 400.0% during the 3rd quarter. Sunbelt Securities Inc. now owns 2,500 shares of the energy company’s stock valued at $83,000 after buying an additional 2,000 shares during the period. Hedge funds and other institutional investors own 74.49% of the company’s stock.

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.