Ramaco Resources (NASDAQ:METC – Get Free Report) posted its quarterly earnings data on Monday. The energy company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.08), FiscalAI reports. Ramaco Resources had a negative return on equity of 12.01% and a negative net margin of 9.59%.The company had revenue of $101.41 million for the quarter, compared to analysts’ expectations of $129.72 million.
Ramaco Resources Trading Up 2.1%
Ramaco Resources stock traded up $0.32 during mid-day trading on Monday, reaching $15.13. 1,034,365 shares of the company traded hands, compared to its average volume of 2,251,018. The company has a debt-to-equity ratio of 0.95, a current ratio of 5.46 and a quick ratio of 4.66. The firm’s 50 day moving average price is $14.63 and its 200 day moving average price is $18.61. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of -15.28 and a beta of 1.31. Ramaco Resources has a 52-week low of $8.21 and a 52-week high of $57.80.
Insider Transactions at Ramaco Resources
In other Ramaco Resources news, major shareholder Discovery Capital Management, sold 200,000 shares of the business’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $14.79, for a total transaction of $2,958,000.00. Following the transaction, the insider directly owned 5,311,360 shares of the company’s stock, valued at approximately $78,555,014.40. The trade was a 3.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 36.20% of the company’s stock.
Institutional Inflows and Outflows
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on the stock. Jefferies Financial Group upgraded shares of Ramaco Resources from a “hold” rating to a “buy” rating and decreased their price objective for the stock from $33.00 to $30.00 in a report on Tuesday, January 20th. The Goldman Sachs Group upgraded shares of Ramaco Resources from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $14.00 to $15.00 in a report on Tuesday, April 21st. Morgan Stanley cut their target price on shares of 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. Zacks Research upgraded shares of Ramaco Resources from a “strong sell” rating to a “hold” rating in a research report on Friday, April 10th. Finally, Robert W. Baird cut their target price on shares of Ramaco Resources from $40.00 to $30.00 and set an “outperform” rating for the company in a research report on Friday, February 27th. One 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.00.
Get Our Latest Stock Analysis on Ramaco Resources
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.
Featured Stories
- Five stocks we like better than Ramaco Resources
- Before the Moon Base Gets Built, These 4 Companies Win
- Industrial Buybacks: Top Homebuilding Supplier Leads Buyback Increases
- 3 Stocks That Win If Inflation Surprises to the Downside
- MercadoLibre Boldly Invests in Growth: Discount Deepens
Receive News & Ratings for Ramaco Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ramaco Resources and related companies with MarketBeat.com's FREE daily email newsletter.
