Ramaco Resources (NASDAQ:METCB) Stock Price Up 4% – Here’s Why

Ramaco Resources, Inc. (NASDAQ:METCB)’s stock price was up 4% on Tuesday . The stock traded as high as $6.78 and last traded at $6.78. Approximately 17,752 shares were traded during trading, a decline of 77% from the average daily volume of 76,748 shares. The stock had previously closed at $6.52.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut shares of Ramaco Resources from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, August 6th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

Ramaco Resources Stock Performance

The company has a debt-to-equity ratio of 1.23, a current ratio of 4.23 and a quick ratio of 3.31. The company has a market capitalization of $480.16 million, a PE ratio of -7.09 and a beta of 1.19. The firm’s fifty day simple moving average is $7.49 and its 200 day simple moving average is $9.82.

Ramaco Resources (NASDAQ:METCB) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.26) earnings per share for the quarter. The company had revenue of $144.80 million for the quarter. Ramaco Resources had a negative net margin of 11.98% and a negative return on equity of 13.54%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Bank of America Corp DE grew its stake in shares of Ramaco Resources by 574.4% during the 3rd quarter. Bank of America Corp DE now owns 3,190 shares of the company’s stock worth $54,000 after purchasing an additional 2,717 shares during the period. XTX Topco Ltd purchased a new stake in shares of Ramaco Resources during the 4th quarter worth about $129,000. Fifth Third Bancorp grew its position in shares of Ramaco Resources by 11,116.7% during the 1st quarter. Fifth Third Bancorp now owns 15,479 shares of the company’s stock valued at $158,000 after acquiring an additional 15,341 shares during the period. Franklin Resources Inc. purchased a new position in shares of Ramaco Resources in the 3rd quarter valued at about $177,000. Finally, Pingora Partners LLC raised its holdings in Ramaco Resources by 10,988.3% in the 4th quarter. Pingora Partners LLC now owns 15,191 shares of the company’s stock worth $178,000 after purchasing an additional 15,054 shares during the period. 9.63% of the stock is owned by institutional investors and hedge funds.

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.