Ramaco Resources Rallies On Q3 Results Above Estimates

(RTTNews) - Shares of mining company Ramaco Resources, Inc. (METC) are surging more than 17% Thursday morning after reporting better-than-expected third-quarter results.

The company reported profit of $19.46 million or $0.40 per share for the third quarter, lower than $26.91 million or $0.60 per share in the same quarter a year ago, primarily due to higher expenses.

Excluding special items, earnings of $0.45 per share beat the average estimate of analysts polled by Thomson-Reuters of $0.44 per share.

Revenue for the quarter increased to $186.97 million from $136.93 million last year. The consensus estimate was for $159.63 million.

METC is at $13.75. It has traded in the range of $7.26 - $13.98 in the last 1 year.