Ramaco Resources Inc (NASDAQ:METC) Short Interest Down 31.0% in November

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Ramaco Resources Inc (NASDAQ:METC) saw a large drop in short interest during the month of November. As of November 29th, there was short interest totalling 346,100 shares, a drop of 31.0% from the November 14th total of 501,800 shares. Based on an average daily volume of 55,000 shares, the short-interest ratio is presently 6.3 days. Currently, 4.0% of the company’s shares are sold short.

Shares of Ramaco Resources stock traded up $0.05 during mid-day trading on Thursday, hitting $3.54. 56,700 shares of the stock were exchanged, compared to its average volume of 68,347. Ramaco Resources has a twelve month low of $3.01 and a twelve month high of $7.22. The stock has a market capitalization of $144.48 million, a price-to-earnings ratio of 5.71 and a beta of 1.08. The company has a 50-day simple moving average of $3.48 and a 200 day simple moving average of $4.33. The company has a current ratio of 1.68, a quick ratio of 1.26 and a debt-to-equity ratio of 0.07.

Ramaco Resources (NASDAQ:METC) last released its quarterly earnings results on Tuesday, November 5th. The energy company reported $0.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.15). Ramaco Resources had a return on equity of 17.12% and a net margin of 11.56%. The firm had revenue of $61.38 million for the quarter, compared to analyst estimates of $68.08 million. Equities research analysts forecast that Ramaco Resources will post 0.85 earnings per share for the current fiscal year.

Several equities research analysts have issued reports on the stock. B. Riley set a $9.00 price target on shares of Ramaco Resources and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Credit Suisse Group decreased their price target on shares of Ramaco Resources from $9.00 to $7.00 and set an “outperform” rating on the stock in a research note on Thursday, August 15th. Clarkson Capital reaffirmed a “buy” rating on shares of Ramaco Resources in a research note on Monday, September 23rd. Finally, ValuEngine raised shares of Ramaco Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Ramaco Resources has a consensus rating of “Buy” and an average price target of $6.75.

Several institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC boosted its position in shares of Ramaco Resources by 135.5% in the third quarter. Tower Research Capital LLC TRC now owns 10,060 shares of the energy company’s stock worth $38,000 after acquiring an additional 5,789 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Ramaco Resources by 24.6% in the second quarter. Charles Schwab Investment Management Inc. now owns 34,809 shares of the energy company’s stock worth $186,000 after acquiring an additional 6,870 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Ramaco Resources by 13.7% in the second quarter. Bank of New York Mellon Corp now owns 91,335 shares of the energy company’s stock worth $486,000 after acquiring an additional 11,000 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in shares of Ramaco Resources in the second quarter worth approximately $60,000. Finally, Zebra Capital Management LLC acquired a new stake in shares of Ramaco Resources in the third quarter worth approximately $45,000. 74.52% of the stock is currently owned by institutional investors.

Ramaco Resources Company Profile

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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