Insider Selling: Ramaco Resources (NASDAQ:METC) Director Sells $2,696,000.00 in Stock

Ramaco Resources, Inc. (NASDAQ:METC) Director Peter Leidel sold 200,000 shares of the company’s stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $13.48, for a total transaction of $2,696,000.00. Following the transaction, the director owned 2,230,926 shares in the company, valued at approximately $30,072,882.48. This trade represents a 8.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Ramaco Resources Stock Up 2.6%

Shares of NASDAQ METC opened at $15.26 on Friday. The firm’s 50-day simple moving average is $14.85 and its 200 day simple moving average is $16.44. The company has a market cap of $994.65 million, a price-to-earnings ratio of -13.87 and a beta of 1.31. The company has a quick ratio of 3.93, a current ratio of 4.88 and a debt-to-equity ratio of 1.06. Ramaco Resources, Inc. has a 12-month low of $9.75 and a 12-month high of $57.80.

Ramaco Resources (NASDAQ:METC) last issued its quarterly earnings results on Monday, May 11th. The energy company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate 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 return on equity of 13.44% and a negative net margin of 11.52%.The firm’s quarterly revenue was down 9.7% on a year-over-year basis. During the same quarter last year, the company earned ($0.20) EPS. On average, research analysts expect that Ramaco Resources, Inc. will post -0.27 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. The Goldman Sachs Group upgraded shares of Ramaco Resources from a “sell” rating to a “neutral” rating and upped their price target for the stock from $14.00 to $15.00 in a research report on Tuesday, April 21st. Robert W. Baird reduced their price target on shares of Ramaco Resources from $30.00 to $25.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. B. Riley Financial reduced their price target on shares of Ramaco Resources from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, May 13th. 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. Finally, Zacks Research upgraded shares of Ramaco Resources from a “strong sell” rating to a “hold” rating in a research report on Friday, April 10th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $27.29.

Institutional Trading of Ramaco Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP bought a new stake in Ramaco Resources during the 4th quarter worth about $27,000. Caitong International Asset Management Co. Ltd raised 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 worth $31,000 after purchasing an additional 1,710 shares during the last quarter. Allworth Financial LP raised its holdings in Ramaco Resources by 3,603.6% during the 3rd quarter. Allworth Financial LP now owns 1,037 shares of the energy company’s stock worth $34,000 after purchasing an additional 1,009 shares during the last quarter. Spirit of America Management Corp NY bought a new stake in Ramaco Resources during the 4th quarter worth about $38,000. Finally, Advisory Services Network LLC bought a new stake in Ramaco Resources during the 3rd quarter worth about $38,000. 74.49% of the stock is owned by institutional investors.

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.