Ramaco Resources (NASDAQ:METCB) Stock Price Up 8.9% – Here’s Why

Ramaco Resources, Inc. (NASDAQ:METCB) shares shot up 8.9% during trading on Wednesday . The company traded as high as $12.92 and last traded at $13.5290. 9,193 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 32,039 shares. The stock had previously closed at $12.42.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of Ramaco Resources in a report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell”.

Ramaco Resources Stock Down 5.1%

The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.24 and a current ratio of 2.97. The firm has a 50-day moving average price of $12.37 and a 200-day moving average price of $13.98.

Ramaco Resources (NASDAQ:METCB) last announced its quarterly earnings data on Monday, October 27th. The company reported ($0.25) EPS for the quarter. Ramaco Resources had a negative return on equity of 7.52% and a negative net margin of 5.67%.The company had revenue of $121.00 million during the quarter.

Institutional Trading of Ramaco Resources

Several hedge funds have recently made changes to their positions in the company. Acuitas Investments LLC lifted its holdings in Ramaco Resources by 20.4% during the second quarter. Acuitas Investments LLC now owns 180,458 shares of the company’s stock valued at $1,476,000 after purchasing an additional 30,558 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in shares of Ramaco Resources in the second quarter valued at approximately $153,000. Wedge Capital Management L L P NC raised its position in shares of Ramaco Resources by 11.0% in the second quarter. Wedge Capital Management L L P NC now owns 177,367 shares of the company’s stock valued at $1,451,000 after purchasing an additional 17,578 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in shares of Ramaco Resources during the 2nd quarter valued at approximately $152,000. Finally, Yorktown Energy Partners XI L.P. boosted its holdings in Ramaco Resources by 1.2% in the 3rd quarter. Yorktown Energy Partners XI L.P. now owns 1,234,759 shares of the company’s stock worth $20,806,000 after buying an additional 14,626 shares during the period. 9.63% of the stock is currently owned by institutional investors.

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.