Insider Selling: Ramaco Resources (NASDAQ:METC) Major Shareholder Sells $2,958,000.00 in Stock

Ramaco Resources, Inc. (NASDAQ:METC) major shareholder Discovery Capital Management, sold 200,000 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $14.79, for a total value of $2,958,000.00. Following the sale, the insider owned 5,311,360 shares of the company’s stock, valued at $78,555,014.40. The trade was a 3.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Ramaco Resources Stock Down 5.6%

Shares of NASDAQ:METC opened at $14.77 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 4.66 and a current ratio of 5.46. Ramaco Resources, Inc. has a 1 year low of $8.21 and a 1 year high of $57.80. The stock has a market capitalization of $991.36 million, a P/E ratio of -14.92 and a beta of 1.31. The stock has a 50-day simple moving average of $14.63 and a 200-day simple moving average of $18.61.

Ramaco Resources (NASDAQ:METC) last issued its earnings results on Wednesday, February 25th. The energy company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.02. Ramaco Resources had a negative return on equity of 12.01% and a negative net margin of 9.59%.The business had revenue of $108.72 million during the quarter, compared to analysts’ expectations of $143.48 million. During the same quarter in the previous year, the business earned $0.02 EPS. The company’s revenue for the quarter was down 25.1% on a year-over-year basis. Equities analysts forecast that Ramaco Resources, Inc. will post -0.04 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on METC. Morgan Stanley decreased their target price on Ramaco Resources from $17.50 to $17.00 and set an “equal weight” rating for the company in a report on Thursday, April 9th. Robert W. Baird decreased their target price on Ramaco Resources from $40.00 to $30.00 and set an “outperform” rating for the company in a report on Friday, February 27th. The Goldman Sachs Group upgraded Ramaco Resources from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $14.00 to $15.00 in a report on Tuesday, April 21st. Jefferies Financial Group upgraded Ramaco Resources from a “hold” rating to a “buy” rating and decreased their price target for the stock from $33.00 to $30.00 in a report on Tuesday, January 20th. Finally, Zacks Research upgraded Ramaco Resources from a “strong sell” rating to a “hold” rating in a report on Friday, April 10th. 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 given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $32.00.

Hedge Funds Weigh In On Ramaco Resources

A number of institutional investors and hedge funds have recently bought and sold shares of METC. Quarry LP purchased a new position in Ramaco Resources in the 4th quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd boosted its holdings in Ramaco Resources by 14,250.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,722 shares of the energy company’s stock worth $31,000 after acquiring an additional 1,710 shares during the period. Archer Investment Corp purchased a new position in Ramaco Resources in the 3rd quarter worth approximately $33,000. Allworth Financial LP boosted its holdings in Ramaco Resources by 3,603.6% in the 3rd quarter. Allworth Financial LP now owns 1,037 shares of the energy company’s stock worth $34,000 after acquiring an additional 1,009 shares during the period. Finally, MCF Advisors LLC purchased a new position in Ramaco Resources in the 3rd quarter worth approximately $35,000. Hedge funds and other institutional investors own 74.49% of the company’s stock.

About Ramaco Resources

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.