Ramaco Resources (NASDAQ:METCB) Posts Earnings Results

Ramaco Resources (NASDAQ:METCB) posted its quarterly earnings results on Wednesday. The company reported ($0.26) earnings per share for the quarter, Zacks reports. Ramaco Resources had a negative net margin of 5.67% and a negative return on equity of 7.52%.

Ramaco Resources Stock Performance

METCB traded up $0.15 during trading hours on Wednesday, hitting $13.01. The stock had a trading volume of 18,519 shares, compared to its average volume of 44,292. Ramaco Resources has a 1 year low of $6.01 and a 1 year high of $22.11. The company’s fifty day simple moving average is $12.55 and its 200 day simple moving average is $14.22. The stock has a market cap of $858.66 million, a PE ratio of -19.13 and a beta of 0.96. The company has a quick ratio of 2.24, a current ratio of 2.97 and a debt-to-equity ratio of 0.24.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Ramaco Resources in a research note on Monday, December 29th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Ramaco Resources

Several large investors have recently modified their holdings of the business. South Dakota Investment Council raised its position in shares of Ramaco Resources by 1.4% in the fourth quarter. South Dakota Investment Council now owns 86,696 shares of the company’s stock valued at $1,019,000 after purchasing an additional 1,227 shares during the period. Bank of America Corp DE grew its stake in Ramaco Resources by 574.4% in the 3rd quarter. Bank of America Corp DE now owns 3,190 shares of the company’s stock valued at $54,000 after buying an additional 2,717 shares in the last quarter. State Street Corp grew its stake in Ramaco Resources by 14.3% in the 4th quarter. State Street Corp now owns 30,637 shares of the company’s stock valued at $360,000 after buying an additional 3,831 shares in the last quarter. Millennium Management LLC raised its holdings in Ramaco Resources by 46.3% during the 4th quarter. Millennium Management LLC now owns 20,608 shares of the company’s stock valued at $242,000 after acquiring an additional 6,519 shares during the period. Finally, XTX Topco Ltd lifted its position in shares of Ramaco Resources by 49.2% during the second quarter. XTX Topco Ltd now owns 20,398 shares of the company’s stock worth $167,000 after acquiring an additional 6,727 shares in the last quarter. Hedge funds and other institutional investors own 9.63% of the company’s stock.

Ramaco Resources Company Profile

Ramaco Resources (NASDAQ:METCB) is a U.S.-based coal company focused on the exploration, development and production of metallurgical and thermal coal. The company’s operations encompass both surface and underground mining in the central Appalachian Basin, where it seeks to capitalize on the region’s high-quality, low-ash coal reserves. Ramaco’s product portfolio includes metallurgical coking coal used in steelmaking, as well as steam coal for power generation, with an emphasis on meeting the exacting specifications of industrial customers.

Founded in 2014 and headquartered in Houston, Texas, Ramaco Resources has assembled a strategic acreage position in southern West Virginia and southwestern Pennsylvania.