Ramaco Resources (NASDAQ:METCB) Posts Quarterly Earnings Results

Ramaco Resources (NASDAQ:METCB) announced its quarterly earnings data on Wednesday. The company reported ($0.26) earnings per share (EPS) for the quarter, Zacks reports. Ramaco Resources had a negative net margin of 5.67% and a negative return on equity of 7.52%.

Ramaco Resources Stock Up 1.2%

METCB stock traded up $0.15 during trading on Wednesday, hitting $13.01. 18,519 shares of the company’s stock were exchanged, compared to its average volume of 44,292. The business has a 50-day moving average price of $12.55 and a two-hundred day moving average price of $14.22. The company has a current ratio of 2.97, a quick ratio of 2.24 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $858.66 million, a price-to-earnings ratio of -19.13 and a beta of 0.96. Ramaco Resources has a 52-week low of $6.01 and a 52-week high of $22.11.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Ramaco Resources in a research report on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Institutional Trading of Ramaco Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE boosted its holdings in shares of Ramaco Resources by 574.4% in the 3rd quarter. Bank of America Corp DE now owns 3,190 shares of the company’s stock valued at $54,000 after buying an additional 2,717 shares in the last quarter. Franklin Resources Inc. purchased a new stake in Ramaco Resources in the third quarter valued at $177,000. XTX Topco Ltd acquired a new position in Ramaco Resources in the fourth quarter valued at $129,000. Millennium Management LLC boosted its stake in Ramaco Resources by 46.3% in the fourth quarter. Millennium Management LLC now owns 20,608 shares of the company’s stock valued at $242,000 after acquiring an additional 6,519 shares in the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of Ramaco Resources during the second quarter worth about $187,000. Institutional investors and hedge funds own 9.63% of the company’s stock.

About Ramaco Resources

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.