Ramaco Resources (NASDAQ:METC) Trading 5.6% Higher

Ramaco Resources Inc (NASDAQ:METC)’s stock price traded up 5.6% on Wednesday . The stock traded as high as $3.25 and last traded at $3.22. 45,700 shares traded hands during mid-day trading, a decline of 51% from the average session volume of 92,820 shares. The stock had previously closed at $3.05.

Several equities analysts have weighed in on the stock. ValuEngine upgraded shares of Ramaco Resources from a “sell” rating to a “hold” rating in a report on Wednesday. Zacks Investment Research upgraded shares of Ramaco Resources from a “hold” rating to a “buy” rating and set a $2.75 target price on the stock in a report on Friday, August 14th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $5.25.

The firm’s fifty day moving average price is $2.63 and its 200 day moving average price is $2.50. The company has a current ratio of 1.95, a quick ratio of 1.03 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $137.24 million, a price-to-earnings ratio of 10.17 and a beta of 1.14.

Ramaco Resources (NASDAQ:METC) last issued its quarterly earnings data on Thursday, August 6th. The energy company reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.14. Ramaco Resources had a net margin of 6.50% and a return on equity of 7.02%. The firm had revenue of $36.37 million for the quarter, compared to analyst estimates of $37.08 million. On average, analysts forecast that Ramaco Resources Inc will post 0.09 earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. acquired a new position in shares of Ramaco Resources in the 1st quarter worth approximately $649,000. Wells Fargo & Company MN lifted its holdings in shares of Ramaco Resources by 81.7% in the 1st quarter. Wells Fargo & Company MN now owns 28,885 shares of the energy company’s stock worth $69,000 after acquiring an additional 12,992 shares during the last quarter. WINTON GROUP Ltd purchased a new stake in Ramaco Resources during the 2nd quarter worth approximately $44,000. State Street Corp increased its stake in Ramaco Resources by 25.3% during the 1st quarter. State Street Corp now owns 138,638 shares of the energy company’s stock worth $331,000 after buying an additional 28,006 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Ramaco Resources by 62.5% during the 1st quarter. Bank of New York Mellon Corp now owns 36,869 shares of the energy company’s stock worth $88,000 after buying an additional 14,183 shares during the period. Hedge funds and other institutional investors own 68.40% of the company’s stock.

Ramaco Resources Company Profile (NASDAQ:METC)

Ramaco Resources, Inc produces and sells metallurgical coal in the United States. The company's development portfolio includes the Elk Creek project consisting of approximately 20,552 acres of controlled mineral and 24 seams located in southern West Virginia; and the Berwind coal property comprising approximately 31,200 acres of controlled mineral and an area of Squire Jim seam coal deposits, which is situated on the border of West Virginia and Virginia.

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