Ramaco Resources (NASDAQ:METCB) Shares Up 3.9% – Here’s What Happened

Ramaco Resources, Inc. (NASDAQ:METCB)’s share price shot up 3.9% during mid-day trading on Tuesday . The company traded as high as $10.90 and last traded at $11.0140. 9,049 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 109,036 shares. The stock had previously closed at $10.60.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed 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, the company has an average rating of “Sell”.

Ramaco Resources Stock Performance

The business has a fifty day simple moving average of $13.24 and a two-hundred day simple moving average of $13.45. The company has a quick ratio of 2.24, a current ratio of 2.97 and a debt-to-equity ratio of 0.24. The company has a market cap of $734.94 million, a P/E ratio of -16.38 and a beta of 0.94.

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

Institutional Trading of Ramaco Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in METCB. Yorktown Energy Partners XI L.P. boosted its stake in shares of Ramaco Resources by 1.2% during the 3rd quarter. Yorktown Energy Partners XI L.P. now owns 1,234,759 shares of the company’s stock worth $20,806,000 after acquiring an additional 14,626 shares during the last quarter. Yorktown Energy Partners IX L.P. increased its stake in shares of Ramaco Resources by 1.2% in the 3rd quarter. Yorktown Energy Partners IX L.P. now owns 1,218,319 shares of the company’s stock worth $20,529,000 after purchasing an additional 14,266 shares in the last quarter. Yorktown Energy Partners X L.P. raised its holdings in Ramaco Resources by 1.2% in the 3rd quarter. Yorktown Energy Partners X L.P. now owns 816,132 shares of the company’s stock worth $13,752,000 after purchasing an additional 9,667 shares during the period. Vanguard Group Inc. raised its holdings in Ramaco Resources by 40.0% in the 3rd quarter. Vanguard Group Inc. now owns 327,496 shares of the company’s stock worth $5,518,000 after purchasing an additional 93,635 shares during the period. Finally, First Eagle Investment Management LLC purchased a new position in Ramaco Resources during the third quarter valued at $5,153,000. 9.63% of the stock is owned by hedge funds and other institutional investors.

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.