Ramaco Resources (NASDAQ:METC) Issues Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Ramaco Resources (NASDAQ:METC) announced its quarterly earnings data on Monday. The energy company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.01), RTT News reports. Ramaco Resources had a return on equity of 10.12% and a net margin of 5.35%. The firm had revenue of $167.40 million for the quarter, compared to the consensus estimate of $156.41 million. During the same quarter last year, the business earned $0.45 earnings per share. The business’s revenue for the quarter was down 10.5% compared to the same quarter last year.

Ramaco Resources Stock Performance

Shares of METC traded up $1.29 during trading hours on Wednesday, reaching $12.42. 1,254,652 shares of the company’s stock traded hands, compared to its average volume of 387,407. The business’s fifty day simple moving average is $10.75 and its two-hundred day simple moving average is $12.59. The firm has a market capitalization of $543.13 million, a price-to-earnings ratio of 19.11 and a beta of 1.08. Ramaco Resources has a twelve month low of $9.03 and a twelve month high of $22.70. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.33 and a quick ratio of 0.90.

Ramaco Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a dividend of $0.138 per share. This represents a $0.55 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date was Friday, August 30th. Ramaco Resources’s dividend payout ratio (DPR) is 84.62%.

Wall Street Analyst Weigh In

METC has been the topic of several analyst reports. Benchmark reaffirmed a “buy” rating and issued a $20.00 target price on shares of Ramaco Resources in a research report on Thursday, August 29th. B. Riley lowered their price target on Ramaco Resources from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th.

Ramaco Resources Company Profile

Ramaco Resources, Inc engages in the development, operation, and sale of metallurgical coal. Its development portfolio includes the Elk Creek project that covers an area of approximately 20,200 acres located in southern West Virginia; the Berwind property covering an area of approximately 62,500 acres situated on the border of West Virginia and Virginia; the Knox Creek property, which covers an area of approximately 64,050 acres is located in Virginia; the Maben property covering an area of approximately 28,000 acres situated in southwestern Pennsylvania southern West Virginia; and the Brook Mine property that covers an area of approximately 16,000 acres located in northeastern Wyoming.