Insider Selling: Ramaco Resources (NASDAQ:METC) Director Sells 400,000 Shares of Stock

Ramaco Resources, Inc. (NASDAQ:METC) Director Peter Leidel sold 400,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the director directly owned 2,284,254 shares of the company’s stock, valued at $32,916,100.14. The trade was a 14.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Ramaco Resources Stock Down 3.5%

Ramaco Resources stock traded down $0.52 during midday trading on Wednesday, reaching $14.28. The stock had a trading volume of 3,425,695 shares, compared to its average volume of 1,505,696. Ramaco Resources, Inc. has a 12 month low of $9.70 and a 12 month high of $57.80. The company has a market capitalization of $930.77 million, a P/E ratio of -12.98 and a beta of 1.31. The company has a fifty day moving average price of $14.85 and a two-hundred day moving average price of $16.46. The company has a current ratio of 4.88, a quick ratio of 3.93 and a debt-to-equity ratio of 1.06.

Ramaco Resources (NASDAQ:METC) last released 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). The company 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 quarter last year, the firm posted ($0.20) EPS. As a group, equities analysts expect that Ramaco Resources, Inc. will post -0.23 EPS for the current fiscal year.

Hedge Funds Weigh In On Ramaco Resources

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. lifted its stake in Ramaco Resources by 27.0% in the first quarter. Goldman Sachs Group Inc. now owns 274,545 shares of the energy company’s stock valued at $2,260,000 after purchasing an additional 58,304 shares during the last quarter. Empowered Funds LLC lifted its stake in Ramaco Resources by 1.8% in the first quarter. Empowered Funds LLC now owns 123,110 shares of the energy company’s stock valued at $1,013,000 after purchasing an additional 2,223 shares during the last quarter. Rhumbline Advisers lifted its stake in Ramaco Resources by 40.1% in the second quarter. Rhumbline Advisers now owns 49,605 shares of the energy company’s stock valued at $652,000 after purchasing an additional 14,199 shares during the last quarter. Hsbc Holdings PLC lifted its stake in Ramaco Resources by 91.4% in the second quarter. Hsbc Holdings PLC now owns 27,338 shares of the energy company’s stock valued at $358,000 after purchasing an additional 13,053 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its stake in Ramaco Resources by 144.8% in the second quarter. New York State Common Retirement Fund now owns 32,039 shares of the energy company’s stock valued at $421,000 after purchasing an additional 18,951 shares during the last quarter. Hedge funds and other institutional investors own 74.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on METC. Robert W. Baird cut their price target on Ramaco Resources from $30.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. The Goldman Sachs Group upgraded Ramaco Resources from a “sell” rating to a “neutral” rating and lifted their price target for the company from $14.00 to $15.00 in a research note on Tuesday, April 21st. Zacks Research upgraded Ramaco Resources from a “strong sell” rating to a “hold” rating in a research note on Friday, April 10th. B. Riley Financial cut their price target on Ramaco Resources from $24.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. Finally, Morgan Stanley cut their price target on Ramaco Resources from $17.50 to $17.00 and set an “equal weight” rating for the company in a research note on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Ramaco Resources has a consensus rating of “Moderate Buy” and an average target price 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.