Ramaco Resources (NASDAQ:METC) Director Sells $5,764,000.00 in Stock

Ramaco Resources, Inc. (NASDAQ:METC) Director Peter Leidel sold 400,000 shares of the firm’s stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $14.41, for a total value of $5,764,000.00. Following the sale, the director directly owned 2,284,254 shares in the company, valued at approximately $32,916,100.14. This trade represents a 14.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Ramaco Resources Price Performance

Shares of NASDAQ METC traded down $0.52 during mid-day trading on Wednesday, hitting $14.28. 3,425,695 shares of the stock traded hands, compared to its average volume of 1,505,696. 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, Inc. has a twelve month low of $9.70 and a twelve month high of $57.80. The company has a market cap of $930.77 million, a PE ratio of -12.98 and a beta of 1.31. The firm has a 50 day simple moving average of $14.85 and a two-hundred day simple moving average of $16.46.

Ramaco Resources (NASDAQ:METC) last released its quarterly earnings data on Monday, May 11th. The energy company reported ($0.30) earnings per share 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 firm had revenue of $101.41 million for the quarter, compared to analyst estimates of $129.72 million. During the same period last year, the business earned ($0.20) EPS. The company’s revenue was down 9.7% compared to the same quarter last year. As a group, equities research analysts forecast that Ramaco Resources, Inc. will post -0.23 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Bridgeway Capital Management LLC increased its position in Ramaco Resources by 0.4% in the 3rd quarter. Bridgeway Capital Management LLC now owns 122,998 shares of the energy company’s stock valued at $4,082,000 after buying an additional 536 shares in the last quarter. AlphaQuest LLC increased its position in Ramaco Resources by 12.6% in the 3rd quarter. AlphaQuest LLC now owns 5,460 shares of the energy company’s stock valued at $181,000 after buying an additional 610 shares in the last quarter. Allworth Financial LP increased its position in Ramaco Resources by 3,603.6% in the 3rd quarter. Allworth Financial LP now owns 1,037 shares of the energy company’s stock valued at $34,000 after buying an additional 1,009 shares in the last quarter. Advisory Services Network LLC bought a new stake in Ramaco Resources in the 3rd quarter valued at about $38,000. Finally, US Bancorp DE increased its position in Ramaco Resources by 2.7% in the 3rd quarter. US Bancorp DE now owns 43,901 shares of the energy company’s stock valued at $1,457,000 after buying an additional 1,171 shares in the last quarter. 74.49% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on METC. The Goldman Sachs Group raised Ramaco Resources from a “sell” rating to a “neutral” rating and raised their price objective for the company from $14.00 to $15.00 in a report on Tuesday, April 21st. Zacks Research raised Ramaco Resources from a “strong sell” rating to a “hold” rating in a report on Friday, April 10th. Robert W. Baird cut their price objective on Ramaco Resources from $30.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Morgan Stanley cut their price objective 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. Finally, B. Riley Financial cut their price objective on Ramaco Resources from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $27.29.

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.