Ramaco Resources (NASDAQ:METCB) Releases Quarterly Earnings Results

Ramaco Resources (NASDAQ:METCB) released its quarterly earnings data on Wednesday. The company reported ($0.26) EPS 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 Up 1.2%

Shares of METCB stock traded up $0.15 on Wednesday, hitting $13.01. The stock had a trading volume of 18,519 shares, compared to its average volume of 44,292. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.97 and a quick ratio of 2.24. The business has a 50 day moving average of $12.55 and a 200 day moving average of $14.22. Ramaco Resources has a 12-month low of $6.01 and a 12-month high of $22.11. The stock has a market cap of $858.66 million, a price-to-earnings ratio of -19.13 and a beta of 0.96.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of Ramaco Resources in a research report on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has an average rating of “Sell”.

Institutional Investors Weigh In On Ramaco Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its stake in shares of Ramaco Resources by 574.4% in the 3rd quarter. Bank of America Corp DE now owns 3,190 shares of the company’s stock worth $54,000 after buying an additional 2,717 shares during the last quarter. Franklin Resources Inc. purchased a new stake in shares of Ramaco Resources during the third quarter valued at approximately $177,000. XTX Topco Ltd bought a new stake in Ramaco Resources during the fourth quarter worth $129,000. Millennium Management LLC boosted its position in Ramaco Resources by 46.3% in the fourth quarter. Millennium Management LLC now owns 20,608 shares of the company’s stock worth $242,000 after purchasing an additional 6,519 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in Ramaco Resources in the 2nd quarter valued at $187,000. 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.