Ramaco Resources (NASDAQ:METCB) Shares Gap Down – Here’s What Happened

Ramaco Resources, Inc. (NASDAQ:METCB) gapped down prior to trading on Monday . The stock had previously closed at $12.59, but opened at $12.11. Ramaco Resources shares last traded at $11.71, with a volume of 1,155 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Ramaco Resources in a research note on Monday. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average rating of “Sell”.

Ramaco Resources Stock Performance

The firm has a market capitalization of $696.96 million, a price-to-earnings ratio of -15.53 and a beta of 0.94. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.24 and a current ratio of 2.97. The stock’s fifty day moving average is $14.33 and its two-hundred day moving average is $13.36.

Ramaco Resources (NASDAQ:METCB) last announced its earnings results on Monday, October 27th. The company reported ($0.25) earnings per share for the quarter. The business had revenue of $121.00 million for the quarter. Ramaco Resources had a negative net margin of 5.67% and a negative return on equity of 7.52%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. MCF Advisors LLC bought a new stake in shares of Ramaco Resources in the 3rd quarter worth about $27,000. Bank of America Corp DE grew its stake in Ramaco Resources by 574.4% in the third 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 in the last quarter. Russell Investments Group Ltd. increased its holdings in Ramaco Resources by 1,403.7% in the first quarter. Russell Investments Group Ltd. now owns 9,052 shares of the company’s stock valued at $64,000 after buying an additional 8,450 shares during the last quarter. Byrne Asset Management LLC acquired a new stake in Ramaco Resources during the third quarter valued at approximately $172,000. Finally, Franklin Resources Inc. acquired a new stake in Ramaco Resources during the third quarter valued at approximately $177,000. 9.63% of the stock is currently owned by institutional investors.

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.