Ramaco Resources (NASDAQ:METC) Major Shareholder Sells $4,785,000.00 in Stock

Ramaco Resources, Inc. (NASDAQ:METC) major shareholder Discovery Capital Management, sold 500,000 shares of the company’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $9.57, for a total transaction of $4,785,000.00. Following the sale, the insider directly owned 4,811,360 shares of the company’s stock, valued at $46,044,715.20. This represents a 9.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Ramaco Resources Stock Up 6.9%

Shares of NASDAQ:METC opened at $10.91 on Thursday. The firm has a 50 day simple moving average of $12.31 and a 200 day simple moving average of $14.55. Ramaco Resources, Inc. has a 52 week low of $8.56 and a 52 week high of $57.80. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.31 and a current ratio of 4.23. The company has a market cap of $711.11 million, a PE ratio of -10.20 and a beta of 1.37.

Ramaco Resources (NASDAQ:METC) last announced its earnings results on Tuesday, August 4th. The energy company reported ($0.26) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.26). The company had revenue of $122.32 million for the quarter, compared to the consensus estimate of $133.11 million. Ramaco Resources had a negative net margin of 11.98% and a negative return on equity of 13.54%. As a group, research analysts expect that Ramaco Resources, Inc. will post -0.76 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Wall Street Zen raised shares of Ramaco Resources from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 8th. Weiss Ratings lowered shares of Ramaco Resources from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday, August 6th. Zacks Research cut shares of Ramaco Resources from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th. The Goldman Sachs Group dropped their price target on shares of Ramaco Resources from $13.00 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday, August 6th. Finally, Robert W. Baird set a $13.00 price objective on Ramaco Resources in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $22.71.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of METC. Allworth Financial LP boosted its holdings in Ramaco Resources by 3,603.6% in the third quarter. Allworth Financial LP now owns 1,037 shares of the energy company’s stock worth $34,000 after purchasing an additional 1,009 shares in the last quarter. Advisory Services Network LLC bought a new position in Ramaco Resources during the third quarter valued at about $38,000. Quarry LP bought a new position in Ramaco Resources during the fourth quarter valued at about $27,000. Caitong International Asset Management Co. Ltd lifted 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 worth $31,000 after buying an additional 1,710 shares during the last quarter. Finally, Sunbelt Securities Inc. boosted its stake in shares of Ramaco Resources by 400.0% during the 3rd quarter. Sunbelt Securities Inc. now owns 2,500 shares of the energy company’s stock worth $83,000 after acquiring an additional 2,000 shares in the last quarter. Institutional investors own 74.49% of the company’s stock.

About Ramaco Resources

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.