Ramaco Resources (NASDAQ:METC) Director Sells $115,299.92 in Stock

Ramaco Resources, Inc. (NASDAQ:METC) Director Peter Leidel sold 10,258 shares of the company’s stock in a transaction dated Wednesday, March 25th. The stock was sold at an average price of $11.24, for a total transaction of $115,299.92. Following the completion of the sale, the director directly owned 823,292 shares in the company, valued at approximately $9,253,802.08. The trade was a 1.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Ramaco Resources Stock Up 2.6%

METC opened at $15.26 on Friday. The firm’s 50-day simple moving average is $14.85 and its 200-day simple moving average is $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. Ramaco Resources, Inc. has a twelve month low of $9.75 and a twelve month high of $57.80. The firm has a market cap of $994.65 million, a price-to-earnings ratio of -13.87 and a beta of 1.31.

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). Ramaco Resources had a negative return on equity of 13.44% and a negative net margin of 11.52%.The firm had revenue of $101.41 million during the quarter, compared to the consensus estimate of $129.72 million. During the same period in the previous year, the company posted ($0.20) EPS. The firm’s revenue for the quarter was down 9.7% compared to the same quarter last year. Equities research analysts anticipate that Ramaco Resources, Inc. will post -0.27 EPS for the current fiscal year.

Institutional Investors Weigh In On Ramaco Resources

A number of hedge funds have recently added to or reduced their stakes in METC. Goldman Sachs Group Inc. grew its holdings in Ramaco Resources by 27.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 274,545 shares of the energy company’s stock worth $2,260,000 after acquiring an additional 58,304 shares during the last quarter. Empowered Funds LLC grew its holdings in Ramaco Resources by 1.8% during the 1st quarter. Empowered Funds LLC now owns 123,110 shares of the energy company’s stock worth $1,013,000 after acquiring an additional 2,223 shares during the last quarter. Rhumbline Advisers grew its holdings in Ramaco Resources by 40.1% during the 2nd quarter. Rhumbline Advisers now owns 49,605 shares of the energy company’s stock worth $652,000 after acquiring an additional 14,199 shares during the last quarter. Hsbc Holdings PLC grew its holdings in Ramaco Resources by 91.4% during the 2nd quarter. Hsbc Holdings PLC now owns 27,338 shares of the energy company’s stock worth $358,000 after acquiring an additional 13,053 shares during the last quarter. Finally, New York State Common Retirement Fund grew its holdings in Ramaco Resources by 144.8% during the 2nd quarter. New York State Common Retirement Fund now owns 32,039 shares of the energy company’s stock worth $421,000 after acquiring an additional 18,951 shares during the last quarter. Institutional investors own 74.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Morgan Stanley lowered 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 lowered 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. Zacks Research raised shares of Ramaco Resources from a “strong sell” rating to a “hold” rating in a report on Friday, April 10th. Robert W. Baird lowered their target price on shares of Ramaco Resources from $30.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Finally, The Goldman Sachs Group raised shares of Ramaco Resources from a “sell” rating to a “neutral” rating and upped their target price for the stock from $14.00 to $15.00 in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average 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.