Ramaco Resources (NASDAQ:METC) Issues Earnings Results, Misses Expectations By $0.08 EPS

Ramaco Resources (NASDAQ:METC) announced its quarterly earnings data on Monday. The energy company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.08), FiscalAI reports. The firm had revenue of $101.41 million during the quarter, compared to analyst estimates of $129.72 million. Ramaco Resources had a negative return on equity of 12.01% and a negative net margin of 9.59%.Ramaco Resources’s revenue for the quarter was down 9.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.20) earnings per share.

Ramaco Resources Trading Up 2.4%

NASDAQ METC opened at $15.17 on Tuesday. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of -15.32 and a beta of 1.31. The stock’s 50 day moving average price is $14.58 and its two-hundred day moving average price is $18.19. The company has a debt-to-equity ratio of 0.95, a quick ratio of 4.66 and a current ratio of 5.46. Ramaco Resources has a 52 week low of $8.21 and a 52 week high of $57.80.

Insider Buying and Selling

In other Ramaco Resources news, major shareholder Discovery Capital Management, sold 200,000 shares of the business’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 value of $2,958,000.00. Following the sale, the insider owned 5,311,360 shares in the company, valued at approximately $78,555,014.40. The trade was a 3.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 36.20% of the company’s stock.

Institutional Investors Weigh In On Ramaco Resources

Institutional investors have recently bought and sold shares of the company. Sender Co & Partners Inc. bought a new stake in Ramaco Resources in the 2nd quarter valued at approximately $285,000. State of Wyoming lifted its stake in Ramaco Resources by 219.9% in the 2nd quarter. State of Wyoming now owns 19,596 shares of the energy company’s stock valued at $257,000 after acquiring an additional 13,470 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Ramaco Resources by 23.0% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,483 shares of the energy company’s stock valued at $256,000 after acquiring an additional 3,638 shares in the last quarter. State of Wisconsin Investment Board bought a new stake in Ramaco Resources in the 4th quarter valued at approximately $233,000. Finally, Quantbot Technologies LP lifted its stake in Ramaco Resources by 79.4% in the 2nd quarter. Quantbot Technologies LP now owns 15,842 shares of the energy company’s stock valued at $208,000 after acquiring an additional 7,010 shares in the last quarter. Institutional investors own 74.49% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.