Ramaco Resources (NASDAQ:METCB) Trading Down 5.6% – Here’s Why

Ramaco Resources, Inc. (NASDAQ:METCB) shares were down 5.6% during mid-day trading on Thursday . The stock traded as low as $11.40 and last traded at $11.3230. Approximately 7,198 shares changed hands during trading, a decline of 80% from the average daily volume of 36,347 shares. The stock had previously closed at $12.00.

Ramaco Resources Stock Performance

The business has a fifty day moving average of $10.53 and a 200 day moving average of $11.80. The company has a market cap of $750.16 million, a P/E ratio of -10.46 and a beta of 0.91. The company has a quick ratio of 3.93, a current ratio of 4.88 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 (EPS) for the quarter. Ramaco Resources had a negative net margin of 11.52% and a negative return on equity of 13.44%. The company had revenue of $121.61 million for the quarter.

Hedge Funds Weigh In On Ramaco Resources

A number of institutional investors have recently bought and sold shares of the stock. MCF Advisors LLC purchased a new stake in Ramaco Resources in the third quarter worth about $27,000. Bank of America Corp DE grew its holdings in shares of 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 during the period. XTX Topco Ltd bought a new position in shares of Ramaco Resources in the 4th quarter worth approximately $129,000. Lunt Capital Management Inc. bought a new position in shares of Ramaco Resources in the 4th quarter worth approximately $148,000. Finally, Fifth Third Bancorp lifted its stake in shares of Ramaco Resources by 11,116.7% in the 1st quarter. Fifth Third Bancorp now owns 15,479 shares of the company’s stock valued at $158,000 after purchasing an additional 15,341 shares during the period. 9.63% of the stock is owned by institutional investors.

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.