Ramaco Resources (NASDAQ:METCB) Trading Down 8.1% – Here’s Why

Ramaco Resources, Inc. (NASDAQ:METCB) shares were down 8.1% during trading on Monday . The stock traded as low as $8.08 and last traded at $7.90. 8,475 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 43,684 shares. The stock had previously closed at $8.60.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Ramaco Resources in a report on Thursday, June 18th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has an average rating of “Sell”.

Ramaco Resources Price Performance

The company has a debt-to-equity ratio of 1.06, a quick ratio of 3.93 and a current ratio of 4.88. The company has a market cap of $518.51 million, a P/E ratio of -7.23 and a beta of 1.11. The firm’s fifty day moving average is $10.02 and its two-hundred day moving average is $11.12.

Ramaco Resources (NASDAQ:METCB) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.30) earnings per share (EPS) for the quarter. The company had revenue of $121.61 million for the quarter. Ramaco Resources had a negative net margin of 11.52% and a negative return on equity of 13.44%.

Hedge Funds Weigh In On Ramaco Resources

Large investors have recently made changes to their positions in the company. Bank of America Corp DE boosted its holdings in Ramaco Resources by 574.4% during the 3rd quarter. Bank of America Corp DE now owns 3,190 shares of the company’s stock valued at $54,000 after acquiring an additional 2,717 shares during the period. XTX Topco Ltd bought a new stake in shares of Ramaco Resources during the fourth quarter worth $129,000. Lunt Capital Management Inc. bought a new stake in shares of Ramaco Resources during the fourth quarter worth $148,000. Fifth Third Bancorp boosted its stake in shares of Ramaco Resources by 11,116.7% during the first quarter. Fifth Third Bancorp now owns 15,479 shares of the company’s stock valued at $158,000 after purchasing an additional 15,341 shares during the period. Finally, Franklin Resources Inc. purchased a new position in Ramaco Resources in the 3rd quarter worth about $177,000. 9.63% of the stock is owned by hedge funds and other 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.