We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Ramaco Resources (METC) Surges 5.5%: Is This an Indication of Further Gains?
Read MoreHide Full Article
Ramaco Resources (METC - Free Report) shares soared 5.5% in the last trading session to close at $12.18. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 22.9% gain over the past four weeks.
Ramco Resources’ second quarter earnings per share was better than expected. The company is poised to benefit from improving metallurgical coal demand as gradual recovery in the global steel industry will result in fresh demand.
The company is an advantageous position due to its reserve geology, which results in low production cash costs per ton and strong production volumes. High quality metallurgical coal production and average realized sales prices of $93/ton in 1H21 has resulted in strong margins for the company.
Price and Consensus
This company is expected to post quarterly earnings of $0.37 per share in its upcoming report, which represents a year-over-year change of +436.4%. Revenues are expected to be $82.85 million, up 110% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Ramaco Resources, the consensus EPS estimate for the quarter has been revised 35.2% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on METC going forward to see if this recent jump can turn into more strength down the road.
Image: Bigstock
Ramaco Resources (METC) Surges 5.5%: Is This an Indication of Further Gains?
Ramaco Resources (METC - Free Report) shares soared 5.5% in the last trading session to close at $12.18. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 22.9% gain over the past four weeks.
Ramco Resources’ second quarter earnings per share was better than expected. The company is poised to benefit from improving metallurgical coal demand as gradual recovery in the global steel industry will result in fresh demand.
The company is an advantageous position due to its reserve geology, which results in low production cash costs per ton and strong production volumes. High quality metallurgical coal production and average realized sales prices of $93/ton in 1H21 has resulted in strong margins for the company.
Price and Consensus
This company is expected to post quarterly earnings of $0.37 per share in its upcoming report, which represents a year-over-year change of +436.4%. Revenues are expected to be $82.85 million, up 110% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Ramaco Resources, the consensus EPS estimate for the quarter has been revised 35.2% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on METC going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank 2 ( Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>