Ramaco Resources (NASDAQ:METC) Issues Quarterly Earnings Results

Ramaco Resources (NASDAQ:METC - Get Free Report) issued its quarterly earnings results on Monday. The energy company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.10, Zacks reports. The company had revenue of $115.61 million for the quarter, compared to the consensus estimate of $137.10 million. Ramaco Resources had a return on equity of 10.17% and a net margin of 5.35%. The company's revenue for the quarter was down 22.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.23 EPS.

Ramaco Resources Price Performance

Shares of NASDAQ METC traded up $0.01 during mid-day trading on Monday, reaching $9.00. The company had a trading volume of 1,512,409 shares, compared to its average volume of 603,956. The business's 50-day simple moving average is $8.99 and its 200 day simple moving average is $10.09. The firm has a market cap of $399.67 million, a price-to-earnings ratio of 13.85 and a beta of 1.28. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.86 and a current ratio of 1.35. Ramaco Resources has a one year low of $6.30 and a one year high of $15.49.

Ramaco Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.0688 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.28 annualized dividend and a dividend yield of 3.06%. Ramaco Resources's dividend payout ratio is presently 245.45%.

Insider Activity at Ramaco Resources

In related news, major shareholder Yorktown Xi Associates Llc sold 89,501 shares of Ramaco Resources stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $8.09, for a total value of $724,063.09. Following the transaction, the insider now directly owns 1,024,870 shares of the company's stock, valued at $8,291,198.30. This trade represents a 8.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Peter A. Leidel sold 180,936 shares of the business's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $8.82, for a total value of $1,595,855.52. Following the sale, the director now owns 708,001 shares in the company, valued at approximately $6,244,568.82. This trade represents a 20.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 922,582 shares of company stock valued at $7,898,023 over the last three months. 41.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on METC shares. B. Riley dropped their price objective on shares of Ramaco Resources from $18.00 to $14.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Benchmark reaffirmed a "buy" rating on shares of Ramaco Resources in a research report on Wednesday, March 12th.

Ramaco Resources Company Profile

Ramaco Resources, Inc engages in the development, operation, and sale of metallurgical coal. Its development portfolio includes the Elk Creek project that covers an area of approximately 20,200 acres located in southern West Virginia; the Berwind property covering an area of approximately 62,500 acres situated on the border of West Virginia and Virginia; the Knox Creek property, which covers an area of approximately 64,050 acres is located in Virginia; the Maben property covering an area of approximately 28,000 acres situated in southwestern Pennsylvania southern West Virginia; and the Brook Mine property that covers an area of approximately 16,000 acres located in northeastern Wyoming.