Ramaco Resources (NASDAQ:METCB) Shares Gap Up – Time to Buy?

Ramaco Resources, Inc. (NASDAQ:METCB) gapped up prior to trading on Monday . The stock had previously closed at $9.61, but opened at $10.27. Ramaco Resources shares last traded at $10.35, with a volume of 9,046 shares traded.

Analyst Upgrades and Downgrades

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

Ramaco Resources Stock Performance

The company has a current ratio of 2.97, a quick ratio of 2.24 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $734.91 million, a price-to-earnings ratio of -16.38 and a beta of 0.94. The stock has a 50-day simple moving average of $13.39 and a 200-day simple moving average of $13.47.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. MCF Advisors LLC bought a new position in Ramaco Resources during the third quarter worth $27,000. Bank of America Corp DE lifted its position 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 worth $54,000 after buying an additional 2,717 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of 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 buying an additional 8,450 shares during the period. Byrne Asset Management LLC acquired a new position in shares of Ramaco Resources in the 3rd quarter valued at about $172,000. Finally, Franklin Resources Inc. bought a new stake in shares of Ramaco Resources during the 3rd quarter valued at about $177,000. Institutional investors and hedge funds own 9.63% of the company’s stock.

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.