Ramaco Resources (NASDAQ:METCB) Shares Gap Down - Here's What Happened

Key Points

• Shares gapped down: Ramaco Resources opened down from $10.44 to $10.04 premarket and last traded around $10.33 on very light volume (~574 shares).
• Analyst sentiment is negative: Weiss Ratings reaffirmed a "sell (d+)" and MarketBeat shows a consensus rating of Sell.
• Weak recent fundamentals: The company reported a ($0.26) quarterly EPS loss, negative ROE (-11.36%) and net margin (-9.59%), with the stock trading below its 50- and 200-day moving averages ($11.89 and $13.22).

Ramaco Resources, Inc. (NASDAQ:METCB - Get Free Report)'s share price gapped down prior to trading on Friday . The stock had previously closed at $10.44, but opened at $10.04. Ramaco Resources shares last traded at $10.3270, with a volume of 574 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Ramaco Resources in a report on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Ramaco Resources currently has a consensus rating of "Sell".

Ramaco Resources Price Performance

The stock has a market cap of $693.69 million, a price-to-earnings ratio of -10.34 and a beta of 1.17. The stock has a fifty day simple moving average of $11.89 and a 200-day simple moving average of $13.22. The company has a current ratio of 5.46, a quick ratio of 4.66 and a debt-to-equity ratio of 0.95.

Ramaco Resources (NASDAQ:METCB - Get Free Report) last announced its quarterly earnings data on Wednesday, February 25th. The company reported ($0.26) earnings per share for the quarter. Ramaco Resources had a negative return on equity of 11.36% and a negative net margin of 9.59%.The firm had revenue of $128.01 million for the quarter.

Institutional Investors Weigh In On Ramaco Resources

Several institutional investors and hedge funds have recently bought and sold shares of the business. South Dakota Investment Council increased its holdings in Ramaco Resources by 1.4% in the 4th 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 during the period. MCF Advisors LLC bought a new stake in Ramaco Resources in the 3rd quarter valued at $27,000. Acuitas Investments LLC increased its holdings in Ramaco Resources by 1.2% in the 3rd quarter. Acuitas Investments LLC now owns 182,621 shares of the company's stock valued at $3,077,000 after buying an additional 2,163 shares during the period. 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. Finally, State Street Corp increased its holdings in Ramaco Resources by 14.3% in the 4th quarter. State Street Corp now owns 30,637 shares of the company's stock valued at $360,000 after buying an additional 3,831 shares during the period. Institutional investors 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.

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