Ramaco Resources (NASDAQ:METC) Director Sells $305,345.70 in Stock

Ramaco Resources, Inc. (NASDAQ:METC) Director Peter Leidel sold 20,115 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $15.18, for a total value of $305,345.70. Following the completion of the transaction, the director directly owned 2,497,567 shares of the company’s stock, valued at $37,913,067.06. This represents a 0.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Ramaco Resources Stock Performance

Shares of METC stock opened at $15.26 on Friday. The business’s 50 day simple moving average is $14.85 and its 200 day simple moving average is $16.44. Ramaco Resources, Inc. has a one year low of $9.75 and a one year high of $57.80. The stock has a market capitalization of $994.65 million, a PE ratio of -13.87 and a beta of 1.31. The company has a debt-to-equity ratio of 1.06, a current ratio of 4.88 and a quick ratio of 3.93.

Ramaco Resources (NASDAQ:METC) last announced its 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). Ramaco Resources had a negative net margin of 11.52% and a negative return on equity of 13.44%. The company had revenue of $101.41 million during the quarter, compared to the consensus estimate of $129.72 million. During the same quarter in the previous year, the company earned ($0.20) earnings per share. The business’s revenue was down 9.7% on a year-over-year basis. As a group, research analysts forecast that Ramaco Resources, Inc. will post -0.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Ramaco Resources

Institutional investors and hedge funds have recently modified their holdings of the business. Allworth Financial LP boosted its holdings in shares of Ramaco Resources by 3,603.6% during the 3rd quarter. Allworth Financial LP now owns 1,037 shares of the energy company’s stock worth $34,000 after buying an additional 1,009 shares in the last quarter. Advisory Services Network LLC bought a new position in shares of Ramaco Resources during the 3rd quarter worth approximately $38,000. Quarry LP bought a new position in shares of Ramaco Resources during the 4th quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Ramaco Resources by 14,250.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,722 shares of the energy company’s stock worth $31,000 after buying an additional 1,710 shares in the last quarter. Finally, Spirit of America Management Corp NY bought a new position in shares of Ramaco Resources during the 4th quarter worth approximately $38,000. 74.49% of the stock is currently owned by institutional investors.

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.