Ramaco Resources (NASDAQ:METC) Posts Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Key Points

• Ramaco Resources reported a quarterly loss of $0.26 per share, missing analysts’ consensus estimate by $0.01. The company also posted a negative 11.52% net margin and negative 13.44% return on equity.
• Shares rose 8.3% to $9.64 during Tuesday’s trading session, but remain well below their 52-week high of $57.80 and their 50- and 200-day moving averages.
• Analyst sentiment is mixed, with the stock carrying an overall “Hold” rating and an average price target of $26.43 after several firms lowered their targets. Institutional investors own 74.49% of the company.

Ramaco Resources (NASDAQ:METC - Get Free Report) posted its quarterly earnings data 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 return on equity of 13.44% and a negative net margin of 11.52%.

Ramaco Resources Stock Up 8.3%

Shares of NASDAQ METC traded up $0.74 during midday trading on Tuesday, reaching $9.64. 3,806,218 shares of the company's stock traded hands, compared to its average volume of 2,044,973. The company has a market cap of $628.34 million, a price-to-earnings ratio of -8.76 and a beta of 1.37. The stock's 50 day simple moving average is $13.18 and its 200-day simple moving average is $15.16. The company has a quick ratio of 3.93, a current ratio of 4.88 and a debt-to-equity ratio of 1.06. Ramaco Resources has a one year low of $8.56 and a one year high of $57.80.

Analysts Set New Price Targets

A number of research analysts have recently commented on METC shares. Morgan Stanley cut their price target on shares of Ramaco Resources from $17.00 to $13.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 8th. Robert W. Baird decreased their price target 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. Zacks Research lowered Ramaco Resources from a "hold" rating to a "strong sell" rating in a report on Friday, July 17th. B. Riley Financial dropped their price objective on Ramaco Resources from $24.00 to $22.00 and set a "buy" rating on the stock in a research note on Wednesday, May 13th. Finally, Weiss Ratings restated a "sell (d)" rating on shares of Ramaco Resources in a report on Thursday, June 18th. 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 data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $26.43.

Institutional Trading of Ramaco Resources

A number of hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. increased its holdings in shares of Ramaco Resources by 27.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 274,545 shares of the energy company's stock valued at $2,260,000 after acquiring an additional 58,304 shares during the period. Empowered Funds LLC raised its position in shares of Ramaco Resources by 1.8% in the 1st quarter. Empowered Funds LLC now owns 123,110 shares of the energy company's stock worth $1,013,000 after acquiring an additional 2,223 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of Ramaco Resources by 40.1% during the 2nd quarter. Rhumbline Advisers now owns 49,605 shares of the energy company's stock worth $652,000 after purchasing an additional 14,199 shares during the last quarter. Hsbc Holdings PLC lifted its stake in shares of Ramaco Resources by 91.4% during the 2nd quarter. Hsbc Holdings PLC now owns 27,338 shares of the energy company's stock worth $358,000 after purchasing an additional 13,053 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its position in Ramaco Resources by 144.8% during the second quarter. New York State Common Retirement Fund now owns 32,039 shares of the energy company's stock valued at $421,000 after purchasing an additional 18,951 shares in the last quarter. Hedge funds and other institutional investors own 74.49% of the company's stock.

Ramaco Resources Company Profile

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.

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