Ramaco Resources (NASDAQ:METCB) Shares Down 7% – Here’s What Happened

Ramaco Resources, Inc. (NASDAQ:METCB)’s share price dropped 7% during mid-day trading on Tuesday . The stock traded as low as $10.53 and last traded at $10.6150. Approximately 87,617 shares were traded during trading, a decline of 19% from the average daily volume of 108,711 shares. The stock had previously closed at $11.42.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Ramaco Resources in a research report on Monday, December 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Ramaco Resources Stock Down 7.3%

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 firm has a market cap of $698.97 million, a price-to-earnings ratio of -15.57 and a beta of 0.94. The firm’s 50 day simple moving average is $14.48 and its two-hundred day simple moving average is $13.34.

Ramaco Resources (NASDAQ:METCB) last released its quarterly earnings results on Monday, October 27th. The company reported ($0.25) earnings per share for the quarter. The business had revenue of $121.00 million during 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

A number of hedge funds have recently modified their holdings of the stock. MCF Advisors LLC acquired a new position in Ramaco Resources in the third quarter valued at about $27,000. Bank of America Corp DE increased its holdings in Ramaco Resources by 574.4% in the 3rd quarter. Bank of America Corp DE now owns 3,190 shares of the company’s stock valued at $54,000 after buying an additional 2,717 shares during the period. Russell Investments Group Ltd. raised its position 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 in the last quarter. Nuveen LLC bought a new stake in shares of Ramaco Resources during the 1st quarter worth approximately $79,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Ramaco Resources during the 2nd quarter worth approximately $152,000. Institutional investors own 9.63% of the company’s stock.

About Ramaco Resources

Ramaco Resources, Inc engages in the development, operation, and sale of metallurgical coal. Its development portfolio includes the Elk Creek project that covers an area of approximately 20,200 acres located in southern West Virginia; the Berwind property covering an area of approximately 62,500 acres situated on the border of West Virginia and Virginia; the Knox Creek property, which covers an area of approximately 64,050 acres is located in Virginia; the Maben property covering an area of approximately 28,000 acres situated in southwestern Pennsylvania southern West Virginia; and the Brook Mine property that covers an area of approximately 16,000 acres located in northeastern Wyoming.