Ramaco Resources (NASDAQ:METCB) Sets New 12-Month Low – Here’s What Happened

Ramaco Resources, Inc. (NASDAQ:METCB)’s stock price hit a new 52-week low on Tuesday . The stock traded as low as $7.01 and last traded at $7.2820, with a volume of 77604 shares traded. The stock had previously closed at $7.07.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Ramaco Resources in a research report on Thursday, June 18th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Ramaco Resources has an average rating of “Sell”.

Ramaco Resources Stock Up 9.2%

The firm’s 50-day simple moving average is $9.46 and its 200 day simple moving average is $10.82. 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 stock has a market capitalization of $503.35 million, a P/E ratio of -7.01 and a beta of 1.11.

Ramaco Resources (NASDAQ:METCB) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.30) 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.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of METCB. South Dakota Investment Council increased its position 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 buying an additional 1,227 shares during the last quarter. Bank of America Corp DE increased 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 last quarter. State Street Corp raised its stake 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 acquiring an additional 3,831 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Ramaco Resources by 8.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 66,814 shares of the company’s stock valued at $681,000 after purchasing an additional 5,408 shares during the last quarter. Finally, Millennium Management LLC boosted its position in Ramaco Resources by 46.3% during the fourth quarter. Millennium Management LLC now owns 20,608 shares of the company’s stock worth $242,000 after purchasing an additional 6,519 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.