Ramaco Resources (NASDAQ:METC – Get Free Report) released its quarterly earnings data on Tuesday. The energy company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.08), FiscalAI reports. Ramaco Resources had a negative return on equity of 13.54% and a negative net margin of 11.98%. The business had revenue of $150.09 million during the quarter, compared to the consensus estimate of $140.23 million.
Ramaco Resources Trading Up 1.9%
METC stock traded up $0.12 during midday trading on Tuesday, reaching $6.71. 2,213,729 shares of the company traded hands, compared to its average volume of 2,074,792. Ramaco Resources has a 52-week low of $6.38 and a 52-week high of $28.67. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.31 and a current ratio of 4.23. The business has a 50 day moving average of $9.65 and a 200-day moving average of $13.46. The firm has a market capitalization of $425.60 million, a price-to-earnings ratio of -6.27 and a beta of 1.64.
Analysts Set New Price Targets
A number of equities analysts recently commented on METC shares. Robert W. Baird lowered Ramaco Resources from an “outperform” rating to a “neutral” rating and set a $13.00 price target for the company. in a research note on Tuesday, August 18th. Benchmark decreased their price objective on Ramaco Resources from $38.00 to $26.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Zacks Research upgraded Ramaco Resources from a “strong sell” rating to a “hold” rating in a research report on Friday, October 16th. Morgan Stanley cut their target price on shares of Ramaco Resources from $13.00 to $11.00 and set an “equal weight” rating for the company in a report on Tuesday, August 18th. Finally, B. Riley Financial restated a “buy” rating on shares of Ramaco Resources in a research report on Tuesday, August 18th. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Ramaco Resources currently has a consensus rating of “Hold” and a consensus price target of $18.33.
View Our Latest Analysis on Ramaco Resources
Insider Activity
In other news, major shareholder Discovery Capital Management, sold 500,000 shares of Ramaco Resources stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $9.57, for a total value of $4,785,000.00. Following the completion of the transaction, the insider owned 4,811,360 shares in the company, valued at approximately $46,044,715.20. The trade was a 9.41% 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. 46.07% of the stock is owned by insiders.
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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