Ramaco Resources (NASDAQ:METCB) Shares Down 7% – Here’s Why

Ramaco Resources, Inc. (NASDAQ:METCB) shares dropped 7% on Tuesday . The company traded as low as $10.53 and last traded at $10.6150. Approximately 87,617 shares were traded during mid-day trading, a decline of 19% from the average daily volume of 108,711 shares. The stock had previously closed at $11.42.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Ramaco Resources in a report on Monday, December 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Ramaco Resources Stock Down 7.3%

The stock’s fifty day moving average price is $14.48 and its 200-day moving average price is $13.34. The company has a market capitalization of $698.97 million, a price-to-earnings ratio of -15.57 and a beta of 0.94. 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 issued 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 business had revenue of $121.00 million during the quarter.

Hedge Funds Weigh In On Ramaco Resources

Hedge funds and other institutional investors have recently made changes to their positions in the company. MCF Advisors LLC bought a new stake in Ramaco Resources during the third quarter worth $27,000. Bank of America Corp DE raised its holdings in shares of Ramaco Resources by 574.4% in the 3rd 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 during the period. Russell Investments Group Ltd. lifted its stake in Ramaco Resources by 1,403.7% in the 1st quarter. Russell Investments Group Ltd. now owns 9,052 shares of the company’s stock valued at $64,000 after purchasing an additional 8,450 shares during the last quarter. Nuveen LLC bought a new position in Ramaco Resources during the first quarter worth about $79,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in Ramaco Resources during the second quarter worth approximately $152,000. 9.63% of the stock is 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.