Ramaco Resources (NASDAQ:METC) Releases Quarterly Earnings Results

Ramaco Resources (NASDAQ:METC) released its quarterly earnings results on Tuesday. The energy company reported ($0.26) earnings per share 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 Stock Up 8.3%

NASDAQ METC traded up $0.74 during trading on Tuesday, hitting $9.64. The company’s stock had a trading volume of 3,806,218 shares, compared to its average volume of 2,044,973. Ramaco Resources has a fifty-two week low of $8.56 and a fifty-two week high of $57.80. The company has a market cap of $628.34 million, a PE ratio of -8.76 and a beta of 1.37. 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 $13.18 and its 200-day simple moving average is $15.16.

Hedge Funds Weigh In On Ramaco Resources

Several hedge funds and other institutional investors have recently modified their holdings of METC. Quarry LP purchased a new stake in Ramaco Resources during the 4th quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of Ramaco Resources by 14,250.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,722 shares of the energy company’s stock worth $31,000 after buying an additional 1,710 shares during the period. Allworth Financial LP lifted its stake in shares of Ramaco Resources by 3,603.6% during the third quarter. Allworth Financial LP now owns 1,037 shares of the energy company’s stock worth $34,000 after buying an additional 1,009 shares during the period. Advisory Services Network LLC acquired a new stake in shares of Ramaco Resources during the third quarter worth $38,000. Finally, Russell Investments Group Ltd. grew 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 buying an additional 1,330 shares during the last quarter. 74.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on METC shares. Robert W. Baird reduced their price objective on shares of Ramaco Resources from $30.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Morgan Stanley lowered their target price on shares of Ramaco Resources from $17.00 to $13.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 8th. Zacks Research lowered shares of Ramaco Resources from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ramaco Resources in a research report on Thursday, June 18th. Finally, The Goldman Sachs Group reduced their price target on Ramaco Resources from $16.00 to $13.00 and set a “neutral” rating on the stock in a research report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $26.43.

About Ramaco Resources

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.