Ramaco Resources (NASDAQ:METC) Director Sells $62,877.54 in Stock

Ramaco Resources, Inc. (NASDAQ:METC) Director Peter Leidel sold 6,081 shares of Ramaco Resources stock in a transaction dated Monday, March 30th. The shares were sold at an average price of $10.34, for a total value of $62,877.54. Following the completion of the transaction, the director directly owned 814,793 shares of the company’s stock, valued at approximately $8,424,959.62. This represents a 0.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Ramaco Resources Stock Performance

Shares of METC opened at $15.26 on Friday. The stock has a 50-day simple moving average of $14.85 and a 200-day simple moving average of $16.44. 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 capitalization of $994.65 million, a PE ratio of -13.87 and a beta of 1.31. Ramaco Resources, Inc. has a 1 year low of $9.75 and a 1 year high of $57.80.

Ramaco Resources (NASDAQ:METC) last posted its earnings results 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). The business had revenue of $101.41 million for the quarter, compared to analysts’ expectations of $129.72 million. Ramaco Resources had a negative return on equity of 13.44% and a negative net margin of 11.52%.Ramaco Resources’s revenue for the quarter was down 9.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.20) EPS. On average, analysts predict that Ramaco Resources, Inc. will post -0.27 earnings per share for the current fiscal year.

Institutional Trading of Ramaco Resources

Institutional investors and hedge funds have recently made changes to their positions in the stock. Allworth Financial LP lifted 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 acquiring an additional 1,009 shares in the last quarter. Advisory Services Network LLC purchased a new stake in shares of Ramaco Resources in the third quarter valued at $38,000. Quarry LP purchased a new stake in shares of Ramaco Resources in the fourth quarter valued at $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 valued at $31,000 after acquiring an additional 1,710 shares in the last quarter. Finally, Spirit of America Management Corp NY purchased a new stake in shares of Ramaco Resources in the fourth quarter valued at $38,000. 74.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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