Insider Buying: Ramaco Resources Inc (NASDAQ:METC) Insider Purchases $38,700.00 in Stock

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Ramaco Resources Inc (NASDAQ:METC) insider Randall Whittaker Atkins purchased 10,000 shares of Ramaco Resources stock in a transaction that occurred on Friday, August 16th. The shares were bought at an average price of $3.87 per share, with a total value of $38,700.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Shares of NASDAQ METC opened at $4.13 on Friday. Ramaco Resources Inc has a one year low of $3.01 and a one year high of $8.94. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.60 and a quick ratio of 1.06. The firm’s 50 day simple moving average is $4.60 and its two-hundred day simple moving average is $5.53. The stock has a market capitalization of $154.35 million, a P/E ratio of 6.66 and a beta of 1.09.

Ramaco Resources (NASDAQ:METC) last issued its earnings results on Tuesday, August 13th. The energy company reported $0.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.26. Ramaco Resources had a net margin of 11.81% and a return on equity of 18.45%. The firm had revenue of $65.76 million for the quarter, compared to analysts’ expectations of $62.03 million. As a group, equities analysts expect that Ramaco Resources Inc will post 1.09 earnings per share for the current fiscal year.

METC has been the subject of a number of research reports. Zacks Investment Research lowered shares of Ramaco Resources from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. TheStreet lowered shares of Ramaco Resources from a “c” rating to a “d” rating in a research report on Monday, August 5th. ValuEngine lowered shares of Ramaco Resources from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 18th. Jefferies Financial Group lowered shares of Ramaco Resources from a “buy” rating to a “hold” rating and cut their target price for the stock from $8.50 to $5.00 in a research report on Tuesday, August 6th. Finally, Credit Suisse Group cut their target price on shares of Ramaco Resources from $9.00 to $7.00 and set an “outperform” rating for the company in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $7.25.

Several institutional investors have recently modified their holdings of METC. Bank of New York Mellon Corp grew its stake in shares of Ramaco Resources by 492.6% during the 4th quarter. Bank of New York Mellon Corp now owns 73,093 shares of the energy company’s stock valued at $362,000 after acquiring an additional 60,758 shares during the period. Dimensional Fund Advisors LP purchased a new position in shares of Ramaco Resources during the 4th quarter worth approximately $160,000. Geode Capital Management LLC boosted its holdings in shares of Ramaco Resources by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 68,665 shares of the energy company’s stock worth $339,000 after purchasing an additional 1,849 shares during the last quarter. Northwestern Mutual Investment Management Company LLC purchased a new position in shares of Ramaco Resources in the 1st quarter worth $46,000. Finally, AlpInvest Partners B.V. purchased a new position in Ramaco Resources in the first quarter valued at about $175,000. Hedge funds and other institutional investors own 76.37% of the company’s stock.

About Ramaco Resources

Ramaco Resources, Inc produces and sells metallurgical coal in the United States. The company's development portfolio includes the Elk Creek project consisting of approximately 20,552 acres of controlled mineral and 24 seams located in southern West Virginia; and the Berwind coal property comprising approximately 31,200 acres of controlled mineral and an area of Squire Jim seam coal deposits, which is situated on the border of West Virginia and Virginia.

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