Ramaco Resources (NASDAQ:METCB) Shares Down 5.6% – Here’s What Happened

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

Ramaco Resources Stock Performance

The company has a debt-to-equity ratio of 1.06, a quick ratio of 3.93 and a current ratio of 4.88. The firm’s 50-day moving average price is $10.50 and its two-hundred day moving average price is $11.83. The firm has a market capitalization of $744.36 million, a price-to-earnings ratio of -10.38 and a beta of 0.91.

Ramaco Resources (NASDAQ:METCB) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.30) earnings per share (EPS) 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 Investors Weigh In On Ramaco Resources

A number of hedge funds have recently made changes to their positions in the company. South Dakota Investment Council boosted its position in Ramaco Resources by 1.4% in the fourth quarter. South Dakota Investment Council now owns 86,696 shares of the company’s stock valued at $1,019,000 after buying an additional 1,227 shares in the last quarter. MCF Advisors LLC bought a new position in shares of Ramaco Resources in the third quarter valued at approximately $27,000. Acuitas Investments LLC grew its position in Ramaco Resources by 1.2% during the 3rd quarter. Acuitas Investments LLC now owns 182,621 shares of the company’s stock worth $3,077,000 after acquiring an additional 2,163 shares during the last quarter. Bank of America Corp DE grew its position 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 during the last quarter. Finally, State Street Corp increased its holdings in Ramaco Resources by 14.3% during the 4th quarter. State Street Corp now owns 30,637 shares of the company’s stock valued at $360,000 after purchasing an additional 3,831 shares in the last quarter. Institutional investors and hedge funds 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.