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

Ramaco Resources (NASDAQ:METC) issued its quarterly earnings results on Monday. The energy company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01), RTT News reports. Ramaco Resources had a return on equity of 16.30% and a net margin of 7.95%. The company had revenue of $167.40 million during the quarter, compared to the consensus estimate of $156.41 million. During the same quarter in the previous year, the business posted $0.45 EPS. The firm’s revenue for the quarter was down 10.5% on a year-over-year basis.

Ramaco Resources Price Performance

Shares of NASDAQ METC opened at $10.16 on Tuesday. The stock has a market cap of $444.30 million, a price-to-earnings ratio of 9.41 and a beta of 1.08. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.90 and a current ratio of 1.33. Ramaco Resources has a fifty-two week low of $9.03 and a fifty-two week high of $22.70. The firm’s 50-day simple moving average is $10.76 and its 200 day simple moving average is $12.62.

Ramaco Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a dividend of $0.138 per share. The ex-dividend date was Friday, August 30th. This represents a $0.55 annualized dividend and a yield of 5.43%. Ramaco Resources’s payout ratio is 50.93%.

Wall Street Analysts Forecast Growth

METC has been the subject of a number of recent analyst reports. B. Riley cut their price target on shares of Ramaco Resources from $19.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Benchmark reissued a “buy” rating and set a $20.00 target price on shares of Ramaco Resources in a report on Thursday, August 29th.

About Ramaco Resources

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.