Ramaco Resources (NASDAQ:METC) Releases Quarterly Earnings Results, Meets Expectations

Ramaco Resources (NASDAQ:METC) announced its quarterly earnings data on Tuesday. The energy company reported $0.26 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.26, Morningstar.com reports. Ramaco Resources had a return on equity of 19.16% and a net margin of 11.65%.

NASDAQ METC opened at $3.76 on Wednesday. Ramaco Resources has a fifty-two week low of $3.50 and a fifty-two week high of $8.94. The company’s 50-day moving average is $4.88. The company has a current ratio of 1.55, a quick ratio of 1.05 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $146.59 million, a price-to-earnings ratio of 6.06 and a beta of 1.09.

Several analysts recently issued reports on METC shares. TheStreet lowered Ramaco Resources from a “c” rating to a “d” rating in a report on Monday, August 5th. Zacks Investment Research lowered Ramaco Resources from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Jefferies Financial Group lowered Ramaco Resources from a “buy” rating to a “hold” rating and cut their price objective for the stock from $8.50 to $5.00 in a report on Tuesday, August 6th. Finally, ValuEngine lowered Ramaco Resources from a “sell” rating to a “strong sell” rating in a report on Thursday, July 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $7.33.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC raised its holdings in Ramaco Resources by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 68,665 shares of the energy company’s stock valued at $339,000 after buying an additional 1,849 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Ramaco Resources by 24.6% during the second quarter. Charles Schwab Investment Management Inc. now owns 34,809 shares of the energy company’s stock valued at $186,000 after buying an additional 6,870 shares in the last quarter. Northwestern Mutual Investment Management Company LLC bought a new position in Ramaco Resources during the first quarter valued at about $46,000. Bank of New York Mellon Corp raised its holdings in Ramaco Resources by 13.7% during the second quarter. Bank of New York Mellon Corp now owns 91,335 shares of the energy company’s stock valued at $486,000 after buying an additional 11,000 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC bought a new position in Ramaco Resources during the second quarter valued at about $60,000. Institutional investors own 76.38% of the company’s stock.

About Ramaco Resources

Ramaco Resources, Inc produces and sells metallurgical coal in the United States. The company's development portfolio includes the Elk Creek project consisting of approximately 20,552 acres of controlled mineral and 24 seams located in southern West Virginia; and the Berwind coal property comprising approximately 31,200 acres of controlled mineral and an area of Squire Jim seam coal deposits, which is situated on the border of West Virginia and Virginia.

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Earnings History for Ramaco Resources (NASDAQ:METC)

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