Ramaco Resources (NASDAQ:METCB) Shares Gap Up – Here’s What Happened

Ramaco Resources, Inc. (NASDAQ:METCB)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $10.20, but opened at $10.88. Ramaco Resources shares last traded at $10.5660, with a volume of 9,238 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Ramaco Resources in a report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Ramaco Resources presently has an average rating of “Sell”.

Ramaco Resources Price Performance

The company has a market capitalization of $700.09 million, a PE ratio of -10.55 and a beta of 1.03. The company has a current ratio of 5.46, a quick ratio of 4.66 and a debt-to-equity ratio of 0.95. The stock has a fifty day simple moving average of $12.69 and a 200-day simple moving average of $13.79.

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

Hedge Funds Weigh In On Ramaco Resources

Several hedge funds have recently added to or reduced their stakes in METCB. First Eagle Investment Management LLC purchased a new stake in shares of Ramaco Resources during the 3rd quarter worth approximately $5,153,000. Samalin Investment Counsel LLC purchased a new position in shares of Ramaco Resources in the 3rd quarter valued at $972,000. Bank of America Corp DE raised its stake 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 worth $54,000 after acquiring an additional 2,717 shares in the last quarter. Pingora Partners LLC raised its stake in Ramaco Resources by 10,988.3% during the 4th quarter. Pingora Partners LLC now owns 15,191 shares of the company’s stock worth $178,000 after acquiring an additional 15,054 shares in the last quarter. Finally, Simcoe Capital LLC purchased a new stake in Ramaco Resources in the fourth quarter valued at $1,892,000. 9.63% of the stock is currently 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.