Insider Selling: Ramaco Resources (NASDAQ:METC) Director Sells 200,000 Shares of Stock

Ramaco Resources, Inc. (NASDAQ:METC) Director Peter Leidel sold 200,000 shares of the stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $13.53, for a total transaction of $2,706,000.00. Following the sale, the director directly owned 324,584 shares of the company’s stock, valued at $4,391,621.52. The trade was a 38.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Ramaco Resources Stock Performance

Shares of NASDAQ METC traded down $0.52 during midday trading on Wednesday, reaching $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 stock has a market cap of $930.77 million, a P/E ratio of -12.98 and a beta of 1.31. Ramaco Resources, Inc. has a 1 year low of $9.70 and a 1 year high of $57.80. The company has a current ratio of 4.88, a quick ratio of 3.93 and a debt-to-equity ratio of 1.06.

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 net margin of 11.52% and a negative return on equity of 13.44%. The firm had revenue of $101.41 million during the quarter, compared to analyst estimates of $129.72 million. During the same period in the previous year, the company earned ($0.20) earnings per share. Ramaco Resources’s revenue was down 9.7% on a year-over-year basis. On average, analysts forecast that Ramaco Resources, Inc. will post -0.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of METC. Lunt Capital Management Inc. boosted its stake in Ramaco Resources by 801.3% during the 4th quarter. Lunt Capital Management Inc. now owns 557,899 shares of the energy company’s stock worth $10,042,000 after purchasing an additional 495,999 shares during the period. Vanguard Group Inc. boosted its stake in Ramaco Resources by 40.0% during the 3rd quarter. Vanguard Group Inc. now owns 2,335,257 shares of the energy company’s stock worth $77,507,000 after purchasing an additional 667,199 shares during the period. Ghisallo Capital Management LLC acquired a new stake in Ramaco Resources during the 3rd quarter worth $9,957,000. Cinctive Capital Management LP acquired a new stake in Ramaco Resources during the 3rd quarter worth $2,707,000. Finally, Bamco Inc. NY acquired a new stake in Ramaco Resources during the 3rd quarter worth $20,679,000. Institutional investors and hedge funds own 74.49% of the company’s stock.

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.