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

Key Points

• Ramaco Resources reported a quarterly loss of $0.32 per share, missing analyst expectations by $0.08. Revenue was $150.09 million, above the $140.23 million consensus estimate.
• The company posted a negative net margin of 11.98% and negative return on equity of 13.54%; its shares rose 1.9% in Tuesday’s mid-day trading to $6.71.
• Analysts’ consensus rating is Hold, with an average price target of $18.33. Major shareholder Discovery Capital Management sold 500,000 shares, reducing its position by 9.41%.

Ramaco Resources (NASDAQ:METC - Get Free Report) announced its quarterly earnings results on Tuesday. The energy company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.08), FiscalAI reports. The firm had revenue of $150.09 million during the quarter, compared to the consensus estimate of $140.23 million. Ramaco Resources had a negative net margin of 11.98% and a negative return on equity of 13.54%.

Ramaco Resources Stock Up 1.9%

Ramaco Resources stock traded up $0.12 during mid-day trading on Tuesday, hitting $6.71. The company had a trading volume of 2,213,729 shares, compared to its average volume of 2,074,792. The company has a current ratio of 4.23, a quick ratio of 3.31 and a debt-to-equity ratio of 1.23. The stock's 50 day moving average price is $9.65 and its two-hundred day moving average price is $13.46. Ramaco Resources has a 12 month low of $6.38 and a 12 month high of $28.67. The company has a market capitalization of $425.60 million, a PE ratio of -6.27 and a beta of 1.64.

Insiders Place Their Bets

In other Ramaco Resources news, major shareholder Discovery Capital Management, sold 500,000 shares of the stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $9.57, for a total transaction of $4,785,000.00. Following the sale, the insider directly owned 4,811,360 shares in the company, valued at approximately $46,044,715.20. This trade represents a 9.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 46.07% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Zacks Research upgraded shares of Ramaco Resources from a "strong sell" rating to a "hold" rating in a research report on Friday, October 16th. The Goldman Sachs Group lowered their price target on Ramaco Resources from $11.00 to $8.00 and set a "neutral" rating on the stock in a research report on Friday, October 23rd. Weiss Ratings lowered Ramaco Resources from a "sell (d)" rating to a "sell (d-)" rating in a research note on Thursday, August 6th. Robert W. Baird cut Ramaco Resources from an "outperform" rating to a "neutral" rating and set a $13.00 price objective for the company. in a report on Tuesday, August 18th. Finally, Wall Street Zen lowered Ramaco Resources from a "sell" rating to a "strong sell" rating in a research report on Sunday, October 4th. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $18.33.

About Ramaco Resources

Ramaco Resources, Inc is a coal producer focused primarily on the development and operation of metallurgical coal mines. Its metallurgical coal is used by steelmakers in the production of coke, a key input in traditional steel manufacturing. The company also produces and sells thermal coal and related coal products where commercially appropriate.

Ramaco Resources operates mining assets in the Central Appalachian region of the United States, including properties in southern West Virginia and Virginia, and owns the Brook Mine development in Sheridan, Wyoming.

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