Ramaco Resources (NASDAQ:METCB) Sees Strong Trading Volume – Here’s Why

Shares of Ramaco Resources, Inc. (NASDAQ:METCB) saw an uptick in trading volume on Tuesday . 53,117 shares changed hands during mid-day trading, an increase of 47% from the previous session’s volume of 36,116 shares.The stock last traded at $11.35 and had previously closed at $10.11.

Ramaco Resources Price Performance

The business has a 50-day moving average price of $10.45 and a 200 day moving average price of $11.88. The stock has a market cap of $765.17 million, a PE ratio of -10.36 and a beta of 0.91. The company has a current ratio of 4.88, a quick ratio of 3.93 and a debt-to-equity ratio of 1.06.

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

Institutional Trading of Ramaco Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. MCF Advisors LLC acquired a new position in Ramaco Resources in the third quarter valued at $27,000. Bank of America Corp DE boosted its position in Ramaco Resources by 574.4% during the third 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 during the last quarter. Franklin Resources Inc. acquired a new position in shares of Ramaco Resources in the 3rd quarter valued at $177,000. XTX Topco Ltd purchased a new position in shares of Ramaco Resources in the 4th quarter valued at $129,000. Finally, Lunt Capital Management Inc. purchased a new position in shares of Ramaco Resources in the 4th quarter valued at $148,000. Hedge funds and other institutional investors own 9.63% of the company’s stock.

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.