Ramaco Resources (NASDAQ:METCB) Stock Price Up 5.8% – Here’s Why

Ramaco Resources, Inc. (NASDAQ:METCB)’s stock price traded up 5.8% on Thursday . The company traded as high as $11.40 and last traded at $11.2730. 13,775 shares changed hands during trading, a decline of 68% from the average session volume of 43,283 shares. The stock had previously closed at $10.65.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Ramaco Resources in a research note on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.

Ramaco Resources Stock Performance

The company has a debt-to-equity ratio of 0.95, a current ratio of 5.46 and a quick ratio of 4.66. The stock has a 50-day moving average price of $12.66 and a 200-day moving average price of $13.77. The company has a market capitalization of $746.13 million, a price-to-earnings ratio of -11.31 and a beta of 1.03.

Ramaco Resources (NASDAQ:METCB) last released its quarterly earnings data on Wednesday, February 25th. The company reported ($0.26) EPS for the quarter. The company had revenue of $128.01 million during the quarter. Ramaco Resources had a negative net margin of 9.59% and a negative return on equity of 11.36%.

Institutional Trading of Ramaco Resources

Several hedge funds have recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its holdings in Ramaco Resources by 12.7% in the 2nd quarter. American Century Companies Inc. now owns 221,581 shares of the company’s stock valued at $1,813,000 after purchasing an additional 24,924 shares during the period. XTX Topco Ltd grew its stake in Ramaco Resources by 49.2% during the second quarter. XTX Topco Ltd now owns 20,398 shares of the company’s stock worth $167,000 after buying an additional 6,727 shares in the last quarter. Jane Street Group LLC bought a new position in Ramaco Resources in the 2nd quarter valued at about $187,000. Yorktown Energy Partners X L.P. raised its position in shares of Ramaco Resources by 20.6% in the 2nd quarter. Yorktown Energy Partners X L.P. now owns 806,465 shares of the company’s stock valued at $6,597,000 after buying an additional 137,742 shares in the last quarter. Finally, Yorktown Energy Partners IX L.P. lifted its holdings in shares of Ramaco Resources by 18.5% during the 2nd quarter. Yorktown Energy Partners IX L.P. now owns 1,204,053 shares of the company’s stock worth $9,849,000 after acquiring an additional 188,278 shares during the period. 9.63% of the stock is owned by institutional investors and hedge funds.

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.