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 Ramaco Resources 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 of the company’s stock, valued at approximately $32,916,100.14. The trade was a 14.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Ramaco Resources Price Performance

METC opened at $15.26 on Friday. The stock has a market cap of $994.65 million, a price-to-earnings 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. The company has a current ratio of 4.88, a quick ratio of 3.93 and a debt-to-equity ratio of 1.06. The stock has a fifty day moving average price of $14.85 and a 200 day moving average price of $16.44.

Ramaco Resources (NASDAQ:METC) last released its quarterly earnings data on Monday, May 11th. The energy company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.08). The firm had revenue of $101.41 million for the quarter, compared to analyst estimates of $129.72 million. Ramaco Resources had a negative net margin of 11.52% and a negative return on equity of 13.44%. Ramaco Resources’s revenue for the quarter was down 9.7% on a year-over-year basis. During the same period in the previous year, the business posted ($0.20) EPS. Analysts forecast that Ramaco Resources, Inc. will post -0.27 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on METC shares. B. Riley Financial reduced their price objective on Ramaco Resources from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, May 13th. The Goldman Sachs Group raised Ramaco Resources from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $14.00 to $15.00 in a research report on Tuesday, April 21st. Morgan Stanley reduced their price objective on Ramaco Resources from $17.50 to $17.00 and set an “equal weight” rating for the company in a research report on Thursday, April 9th. Zacks Research raised Ramaco Resources from a “strong sell” rating to a “hold” rating in a research report on Friday, April 10th. Finally, Robert W. Baird cut 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. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $27.29.

Hedge Funds Weigh In On Ramaco Resources

Institutional investors have recently bought and sold shares of the stock. Lunt Capital Management Inc. raised its holdings in 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 buying an additional 495,999 shares in the last quarter. Vanguard Group Inc. raised its holdings in Ramaco Resources by 40.0% during the third quarter. Vanguard Group Inc. now owns 2,335,257 shares of the energy company’s stock valued at $77,507,000 after buying an additional 667,199 shares in the last quarter. Ghisallo Capital Management LLC bought a new position in Ramaco Resources during the third quarter valued at about $9,957,000. Cinctive Capital Management LP bought a new position in Ramaco Resources during the third quarter valued at about $2,707,000. Finally, Bamco Inc. NY bought a new position in Ramaco Resources during the third quarter valued at about $20,679,000. 74.49% of the stock is currently owned by institutional investors.

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.