Ramaco Resources (NASDAQ:METCB) Announces Earnings Results

Ramaco Resources (NASDAQ:METCB) posted its earnings results on Tuesday. The company reported ($0.26) EPS for the quarter, Zacks reports. The firm had revenue of $144.80 million for the quarter. Ramaco Resources had a negative net margin of 11.98% and a negative return on equity of 12.80%.

Ramaco Resources Stock Down 3.5%

NASDAQ METCB traded down $0.23 during trading on Thursday, hitting $6.12. The company’s stock had a trading volume of 60,161 shares, compared to its average volume of 45,940. Ramaco Resources has a fifty-two week low of $6.10 and a fifty-two week high of $22.11. The company has a market cap of $398.55 million, a PE ratio of -5.72 and a beta of 1.19. The company has a debt-to-equity ratio of 1.06, a current ratio of 4.88 and a quick ratio of 3.93. The business’s 50 day simple moving average is $8.95 and its 200-day simple moving average is $10.52.

Hedge Funds Weigh In On Ramaco Resources

Hedge funds and other institutional investors have recently modified their holdings of the stock. South Dakota Investment Council lifted its position in Ramaco Resources by 1.4% during the 4th quarter. South Dakota Investment Council now owns 86,696 shares of the company’s stock worth $1,019,000 after acquiring an additional 1,227 shares during the period. Bank of America Corp DE increased its holdings in shares of Ramaco Resources by 574.4% in the third quarter. Bank of America Corp DE now owns 3,190 shares of the company’s stock valued at $54,000 after purchasing an additional 2,717 shares during the period. State Street Corp increased its holdings in shares of Ramaco Resources by 14.3% in the fourth quarter. State Street Corp now owns 30,637 shares of the company’s stock valued at $360,000 after purchasing an additional 3,831 shares during the period. Millennium Management LLC raised its stake in shares of Ramaco Resources by 46.3% in the fourth quarter. Millennium Management LLC now owns 20,608 shares of the company’s stock worth $242,000 after purchasing an additional 6,519 shares during the last quarter. Finally, XTX Topco Ltd raised its stake in shares of Ramaco Resources by 49.2% in the second quarter. XTX Topco Ltd now owns 20,398 shares of the company’s stock worth $167,000 after purchasing an additional 6,727 shares during the last quarter. 9.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ramaco Resources in a report on Thursday, June 18th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Ramaco Resources presently has an average rating of “Sell”.

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.