Ramaco Resources (NASDAQ:METC – Get Free Report) released its earnings results on Tuesday. The energy company reported ($0.26) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.26), Zacks reports. Ramaco Resources had a negative return on equity of 13.44% and a negative net margin of 11.52%.The business had revenue of $122.32 million for the quarter, compared to the consensus estimate of $133.11 million.
Ramaco Resources Price Performance
METC stock traded down $0.64 during trading on Wednesday, hitting $9.00. 1,500,863 shares of the stock traded hands, compared to its average volume of 2,040,357. The stock has a market cap of $586.36 million, a price-to-earnings ratio of -8.19 and a beta of 1.37. Ramaco Resources has a one year low of $8.56 and a one year high of $57.80. The company has a current ratio of 4.88, a quick ratio of 3.93 and a debt-to-equity ratio of 1.06. The company has a 50 day simple moving average of $13.07 and a 200 day simple moving average of $15.07.
Institutional Trading of Ramaco Resources
Hedge funds have recently modified their holdings of the company. Kestra Advisory Services LLC grew its position in Ramaco Resources by 19.2% during the 4th quarter. Kestra Advisory Services LLC now owns 14,063 shares of the energy company’s stock worth $253,000 after acquiring an additional 2,265 shares during the last quarter. State of Wisconsin Investment Board bought a new stake in shares of Ramaco Resources during the fourth quarter worth $233,000. The Manufacturers Life Insurance Company grew its holdings in shares of Ramaco Resources by 28.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 12,736 shares of the energy company’s stock worth $229,000 after purchasing an additional 2,851 shares during the last quarter. Quantbot Technologies LP increased its stake in shares of Ramaco Resources by 79.4% in the second quarter. Quantbot Technologies LP now owns 15,842 shares of the energy company’s stock valued at $208,000 after buying an additional 7,010 shares in the last quarter. Finally, Boothbay Fund Management LLC acquired a new stake in shares of Ramaco Resources in the fourth quarter valued at $191,000. Institutional investors and hedge funds own 74.49% of the company’s stock.
Analyst Ratings Changes
View Our Latest Stock Analysis on METC
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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