Ramaco Resources (NASDAQ:METC) Director Sells $2,706,000.00 in Stock

Ramaco Resources, Inc. (NASDAQ:METC) Director Peter Leidel sold 200,000 shares of the firm’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $13.53, for a total transaction of $2,706,000.00. Following the sale, the director owned 324,584 shares of the company’s stock, valued at approximately $4,391,621.52. This represents a 38.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Ramaco Resources Stock Performance

METC stock opened at $15.26 on Friday. 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 cap of $994.65 million, a P/E ratio of -13.87 and a beta of 1.31. The firm has a 50 day simple moving average of $14.85 and a 200 day simple moving average of $16.44. Ramaco Resources, Inc. has a 52 week low of $9.75 and a 52 week high of $57.80.

Ramaco Resources (NASDAQ:METC) last posted its quarterly earnings results on Monday, May 11th. The energy company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.08). The company had revenue of $101.41 million for the quarter, compared to analyst estimates of $129.72 million. Ramaco Resources had a negative return on equity of 13.44% and a negative net margin of 11.52%.The business’s revenue for the quarter was down 9.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.20) earnings per share. Research analysts anticipate that Ramaco Resources, Inc. will post -0.27 earnings per share for the current fiscal year.

Institutional Trading of Ramaco Resources

Institutional investors have recently added to or reduced their stakes in the business. Quarry LP acquired a new stake in Ramaco Resources in the fourth quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd raised its position in shares of Ramaco Resources by 14,250.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,722 shares of the energy company’s stock valued at $31,000 after purchasing an additional 1,710 shares during the period. Allworth Financial LP raised its position in shares of Ramaco Resources by 3,603.6% in the third quarter. Allworth Financial LP now owns 1,037 shares of the energy company’s stock valued at $34,000 after purchasing an additional 1,009 shares during the period. Spirit of America Management Corp NY bought a new position in shares of Ramaco Resources in the fourth quarter valued at approximately $38,000. Finally, Advisory Services Network LLC bought a new position in shares of Ramaco Resources in the third quarter valued at approximately $38,000. 74.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on METC. B. Riley Financial reduced their target price on shares of Ramaco Resources from $24.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. Robert W. Baird reduced their target price on shares of Ramaco Resources from $30.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. The Goldman Sachs Group upgraded shares of Ramaco Resources from a “sell” rating to a “neutral” rating and lifted their target price for the company from $14.00 to $15.00 in a research note on Tuesday, April 21st. Zacks Research upgraded shares of Ramaco Resources from a “strong sell” rating to a “hold” rating in a research note on Friday, April 10th. Finally, Morgan Stanley reduced their target price on shares of Ramaco Resources from $17.50 to $17.00 and set an “equal weight” rating for the company in a research note on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Ramaco Resources currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.29.

Ramaco Resources Company Profile

Ramaco Resources, Inc (NASDAQ:METC) is a U.S.-based producer of premium metallurgical coal and industrial minerals, focused on supplying the steel and allied industries. The company’s operations are centered in the Appalachian region of West Virginia, where it develops, mines and processes high-carbon coal products designed to meet the quality requirements of blast‐furnace and electric‐arc furnace steelmakers.

The firm’s flagship asset is the Elk Creek underground mine in Wyoming County, West Virginia, which began commercial production in 2019 and delivers a range of high‐grade metallurgical and anthracite coals.