Ramaco Resources (NASDAQ:METC) Director Sells $2,844,000.00 in Stock

Ramaco Resources, Inc. (NASDAQ:METC) Director Peter Leidel sold 200,000 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $14.22, for a total transaction of $2,844,000.00. Following the completion of the transaction, the director owned 2,444,239 shares in the company, valued at approximately $34,757,078.58. The trade was a 7.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Ramaco Resources Trading Up 2.6%

Ramaco Resources stock opened at $15.26 on Friday. The firm’s 50-day moving average is $14.85 and its 200-day 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 1 year low of $9.75 and a 1 year high of $57.80. The company has a market cap of $994.65 million, a P/E ratio of -13.87 and a beta of 1.31.

Ramaco Resources (NASDAQ:METC) last posted its quarterly earnings results 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). Ramaco Resources had a negative return on equity of 13.44% and a negative net margin of 11.52%.The business had revenue of $101.41 million during the quarter, compared to the consensus estimate of $129.72 million. During the same quarter in the previous year, the business posted ($0.20) earnings per share. The company’s quarterly revenue was down 9.7% compared to the same quarter last year. On average, equities analysts expect that Ramaco Resources, Inc. will post -0.27 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently issued reports on METC. The Goldman Sachs Group upgraded shares of Ramaco Resources from a “sell” rating to a “neutral” rating and raised their price target for the stock from $14.00 to $15.00 in a research report on Tuesday, April 21st. Morgan Stanley reduced their price target on shares of Ramaco Resources from $17.50 to $17.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 9th. Zacks Research raised shares of Ramaco Resources from a “strong sell” rating to a “hold” rating in a report on Friday, April 10th. B. Riley Financial dropped their price objective 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 report on Wednesday, May 13th. One 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 assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $27.29.

Institutional Trading of Ramaco Resources

A number of large investors have recently modified their holdings of METC. Goldman Sachs Group Inc. increased its holdings in shares of Ramaco Resources by 27.0% in 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 period. Empowered Funds LLC increased its holdings in shares of Ramaco Resources by 1.8% in 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 period. Rhumbline Advisers increased its stake in Ramaco Resources by 40.1% during the 2nd quarter. Rhumbline Advisers now owns 49,605 shares of the energy company’s stock valued at $652,000 after buying an additional 14,199 shares during the period. Hsbc Holdings PLC increased its stake in Ramaco Resources by 91.4% during the 2nd quarter. Hsbc Holdings PLC now owns 27,338 shares of the energy company’s stock valued at $358,000 after buying an additional 13,053 shares during the period. Finally, New York State Common Retirement Fund increased its stake 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 valued at $421,000 after buying an additional 18,951 shares during the period. 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.