Ramaco Resources (NASDAQ:METC) Director Sells $2,696,000.00 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 Friday, March 20th. The stock was sold at an average price of $13.48, for a total transaction of $2,696,000.00. Following the completion of the sale, the director directly owned 2,230,926 shares in the company, valued at $30,072,882.48. This represents a 8.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Ramaco Resources Trading Down 3.5%

Shares of METC traded down $0.52 during mid-day trading on Wednesday, hitting $14.28. The company had a trading volume of 3,425,695 shares, compared to its average volume of 1,505,696. The business’s 50-day simple moving average is $14.85 and its 200-day simple moving average is $16.46. The company has a quick ratio of 3.93, a current ratio of 4.88 and a debt-to-equity ratio of 1.06. Ramaco Resources, Inc. has a 1-year low of $9.70 and a 1-year high of $57.80. The stock has a market cap of $930.77 million, a PE ratio of -12.98 and a beta of 1.31.

Ramaco Resources (NASDAQ:METC) last released its earnings results on Monday, May 11th. The energy company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.08). Ramaco Resources had a negative return on equity of 13.44% and a negative net margin of 11.52%.The company had revenue of $101.41 million during the quarter, compared to analyst estimates of $129.72 million. During the same period in the prior year, the business posted ($0.20) earnings per share. Ramaco Resources’s revenue was down 9.7% on a year-over-year basis. Sell-side analysts forecast that Ramaco Resources, Inc. will post -0.23 earnings per share for the current year.

Wall Street Analyst Weigh In

METC has been the topic of several recent research reports. 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 report on Tuesday, April 21st. Zacks Research upgraded shares of Ramaco Resources from a “strong sell” rating to a “hold” rating in a report on Friday, April 10th. Morgan Stanley reduced their target price on shares of Ramaco Resources from $17.50 to $17.00 and set an “equal weight” rating on the stock in a report on Thursday, April 9th. B. Riley Financial reduced their target price on shares of Ramaco Resources from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Wednesday, May 13th. Finally, Robert W. Baird dropped their price objective on shares of Ramaco Resources from $30.00 to $25.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.29.

Institutional Trading of Ramaco Resources

Hedge funds have recently made changes to their positions in the company. Lunt Capital Management Inc. raised its stake in shares of Ramaco Resources by 801.3% during the fourth quarter. Lunt Capital Management Inc. now owns 557,899 shares of the energy company’s stock valued at $10,042,000 after purchasing an additional 495,999 shares during the period. Vanguard Group Inc. increased its stake in shares of Ramaco Resources by 40.0% in the third quarter. Vanguard Group Inc. now owns 2,335,257 shares of the energy company’s stock worth $77,507,000 after buying an additional 667,199 shares during the last quarter. Ghisallo Capital Management LLC bought a new stake in shares of Ramaco Resources in the third quarter worth $9,957,000. Cinctive Capital Management LP bought a new stake in shares of Ramaco Resources in the third quarter worth $2,707,000. Finally, Bamco Inc. NY bought a new stake in shares of Ramaco Resources in the third quarter worth $20,679,000. Hedge funds and other 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.