Ramaco Resources (NASDAQ:METCB) Shares Gap Up – Still a Buy?

Ramaco Resources, Inc. (NASDAQ:METCB)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $12.42, but opened at $13.69. Ramaco Resources shares last traded at $13.6150, with a volume of 1,730 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Ramaco Resources in a research report on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Ramaco Resources has a consensus rating of “Sell”.

Ramaco Resources Price Performance

The firm has a market capitalization of $905.17 million, a P/E ratio of -20.10 and a beta of 0.97. The business’s 50-day simple moving average is $12.47 and its 200 day simple moving average is $13.95. The company has a quick ratio of 2.24, a current ratio of 2.97 and a debt-to-equity ratio of 0.24.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. MCF Advisors LLC bought a new stake in shares of Ramaco Resources in the 3rd quarter valued at about $27,000. Bank of America Corp DE increased its stake in Ramaco Resources by 574.4% in 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. Byrne Asset Management LLC bought a new stake in Ramaco Resources in the third quarter valued at approximately $172,000. Franklin Resources Inc. bought a new stake in Ramaco Resources in the third quarter valued at approximately $177,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Ramaco Resources during the second quarter valued at approximately $152,000. 9.63% of the stock is owned by institutional investors.

About Ramaco Resources

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.