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 company’s stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $13.53, for a total transaction of $2,706,000.00. Following the transaction, the director owned 324,584 shares of the company’s stock, valued at approximately $4,391,621.52. The trade was a 38.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Ramaco Resources Stock Performance

Ramaco Resources stock traded down $0.52 during trading hours on Wednesday, reaching $14.28. 3,425,695 shares of the stock were exchanged, compared to its average volume of 1,505,696. The stock has a market cap of $930.77 million, a P/E ratio of -12.98 and a beta of 1.31. 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 52-week low of $9.70 and a 52-week high of $57.80. The firm’s 50 day moving average is $14.85 and its 200 day moving average is $16.46.

Ramaco Resources (NASDAQ:METC) last announced its quarterly earnings data on Monday, May 11th. The energy company reported ($0.30) 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 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%.The firm’s quarterly revenue was down 9.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.20) EPS. Analysts predict that Ramaco Resources, Inc. will post -0.23 EPS for the current fiscal year.

Hedge Funds Weigh In On Ramaco Resources

Large investors have recently made changes to their positions in the stock. Allworth Financial LP increased its holdings in shares of Ramaco Resources by 3,603.6% in the 3rd quarter. Allworth Financial LP now owns 1,037 shares of the energy company’s stock valued at $34,000 after purchasing an additional 1,009 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of Ramaco Resources in the 3rd quarter valued at about $38,000. Quarry LP purchased a new position in Ramaco Resources during the 4th quarter valued at about $27,000. Caitong International Asset Management Co. Ltd increased its holdings in Ramaco Resources by 14,250.0% during the 4th 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 position in Ramaco Resources during the 4th quarter valued at about $38,000. Hedge funds and other institutional investors own 74.49% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on METC shares. Zacks Research upgraded shares of Ramaco Resources from a “strong sell” rating to a “hold” rating in a research report on Friday, April 10th. B. Riley Financial cut their price objective on shares of Ramaco Resources from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, May 13th. Morgan Stanley cut their price objective on shares of 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. The Goldman Sachs Group upgraded shares of Ramaco Resources from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $14.00 to $15.00 in a research report on Tuesday, April 21st. Finally, Robert W. Baird cut their price target on shares of Ramaco Resources from $30.00 to $25.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company 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.