Ramaco Resources (NASDAQ:METCB) Trading 4% Higher – Should You Buy?

Ramaco Resources, Inc. (NASDAQ:METCB)’s stock price rose 4% during mid-day trading on Tuesday . The company traded as high as $6.78 and last traded at $6.78. 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.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded 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, Based on data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Ramaco Resources Stock Up 4.0%

The business’s 50 day simple moving average is $7.54 and its 200 day simple moving average is $9.86. The company has a market capitalization of $429.78 million, a PE ratio of -6.34 and a beta of 1.19. The company has a quick ratio of 3.31, a current ratio of 4.23 and a debt-to-equity ratio of 1.23.

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

Hedge Funds Weigh In On Ramaco Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in METCB. South Dakota Investment Council raised its stake in Ramaco Resources by 1.4% during the 4th quarter. South Dakota Investment Council now owns 86,696 shares of the company’s stock valued at $1,019,000 after purchasing an additional 1,227 shares during the period. Bank of America Corp DE lifted its holdings in shares of Ramaco Resources by 574.4% in the third quarter. Bank of America Corp DE now owns 3,190 shares of the company’s stock valued at $54,000 after purchasing an additional 2,717 shares in the last quarter. State Street Corp boosted its position in shares of Ramaco Resources by 14.3% in the fourth quarter. State Street Corp now owns 30,637 shares of the company’s stock worth $360,000 after buying an additional 3,831 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Ramaco Resources by 8.8% in the first quarter. Dimensional Fund Advisors LP now owns 66,814 shares of the company’s stock worth $681,000 after buying an additional 5,408 shares during the period. Finally, Millennium Management LLC grew its holdings in shares of Ramaco Resources by 46.3% during the fourth quarter. Millennium Management LLC now owns 20,608 shares of the company’s stock valued at $242,000 after buying an additional 6,519 shares in the last quarter. 9.63% of the stock is currently 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.