Ramaco Resources (NASDAQ:METCB) Trading Up 4% - Should You Buy?

Key Points

• Ramaco Resources shares rose 4% to $6.78 in midday trading, though volume was 77% below the stock’s average daily level.
• The company reported a quarterly loss of $0.26 per share on $144.8 million in revenue, alongside negative return on equity and net margin.
• Analyst sentiment remains bearish: Weiss Ratings downgraded the stock’s “Sell” rating, and MarketBeat reports an overall average rating of “Sell.”

Shares of Ramaco Resources, Inc. (NASDAQ:METCB - Get Free Report) rose 4% during mid-day trading on Tuesday . The company traded as high as $6.78 and last traded at $6.78. Approximately 17,752 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 76,748 shares. The stock had previously closed at $6.52.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered Ramaco Resources from a "sell (d)" rating to a "sell (d-)" rating in a research report on Thursday, August 6th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Ramaco Resources presently has an average rating of "Sell".

Ramaco Resources Trading Up 4.0%

The company has a current ratio of 4.23, a quick ratio of 3.31 and a debt-to-equity ratio of 1.23. The firm has a 50-day moving average price of $7.54 and a 200 day moving average price of $9.86. The company has a market cap of $429.78 million, a price-to-earnings ratio of -6.34 and a beta of 1.19.

Ramaco Resources (NASDAQ:METCB - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.26) earnings per share for the quarter. Ramaco Resources had a negative return on equity of 13.54% and a negative net margin of 11.98%.The company had revenue of $144.80 million for the quarter.

Institutional Investors Weigh In On Ramaco Resources

Several institutional investors have recently bought and sold shares of the stock. South Dakota Investment Council raised its holdings in Ramaco Resources by 1.4% during the fourth quarter. South Dakota Investment Council now owns 86,696 shares of the company's stock worth $1,019,000 after purchasing an additional 1,227 shares in the last quarter. Bank of America Corp DE boosted 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 valued at $54,000 after purchasing an additional 2,717 shares in the last quarter. State Street Corp increased its position in shares of 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 during the period. Dimensional Fund Advisors LP raised its stake in shares of Ramaco Resources by 8.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 66,814 shares of the company's stock worth $681,000 after buying an additional 5,408 shares in the last quarter. Finally, Millennium Management LLC raised its stake in shares of Ramaco Resources by 46.3% in the 4th quarter. Millennium Management LLC now owns 20,608 shares of the company's stock worth $242,000 after buying an additional 6,519 shares in the last quarter. Institutional investors and hedge funds own 9.63% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source