Ramaco Resources, Inc. (NASDAQ:METC) Major Shareholder Sells $722,129.31 in Stock

Ramaco Resources, Inc. (NASDAQ:METC) major shareholder Yorktown Energy Partners Xi, L sold 83,871 shares of the firm’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $8.61, for a total transaction of $722,129.31. Following the transaction, the insider now owns 1,059,909 shares of the company’s stock, valued at approximately $9,125,816.49. This represents a 7.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Yorktown Energy Partners Xi, L also recently made the following trade(s):

• On Monday, March 24th, Yorktown Energy Partners Xi, L sold 98,274 shares of Ramaco Resources stock. The shares were sold at an average price of $8.85, for a total value of $869,724.90.

Ramaco Resources Stock Performance

NASDAQ:METC opened at $8.51 on Wednesday. The stock has a market capitalization of $377.87 million, a P/E ratio of 13.09 and a beta of 1.17. The company has a current ratio of 1.35, a quick ratio of 0.86 and a debt-to-equity ratio of 0.23. Ramaco Resources, Inc. has a 1 year low of $8.17 and a 1 year high of $17.23. The firm has a 50 day moving average of $9.56 and a 200-day moving average of $10.54.

Ramaco Resources (NASDAQ:METC) last posted its quarterly earnings data on Monday, March 10th. The energy company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.36). Ramaco Resources had a return on equity of 10.17% and a net margin of 5.35%. The business had revenue of $170.90 million during the quarter, compared to analyst estimates of $166.59 million. During the same period in the prior year, the firm posted $0.24 EPS. Ramaco Resources’s revenue for the quarter was down 15.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Ramaco Resources, Inc. will post 0.05 EPS for the current fiscal year.

Ramaco Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be given a $0.0688 dividend. This represents a $0.28 annualized dividend and a yield of 3.23%. Ramaco Resources’s payout ratio is presently 245.45%.

Hedge Funds Weigh In On Ramaco Resources

A number of institutional investors have recently modified their holdings of METC. Victory Capital Management Inc. grew its stake in shares of Ramaco Resources by 18.1% during the third quarter. Victory Capital Management Inc. now owns 127,965 shares of the energy company’s stock valued at $1,497,000 after purchasing an additional 19,575 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Ramaco Resources by 231.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 262,354 shares of the energy company’s stock worth $3,070,000 after buying an additional 183,163 shares in the last quarter. Dynamic Technology Lab Private Ltd boosted its position in Ramaco Resources by 190.4% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 89,958 shares of the energy company’s stock valued at $1,053,000 after buying an additional 58,980 shares during the last quarter. FMR LLC increased its stake in shares of Ramaco Resources by 5.3% in the 3rd quarter. FMR LLC now owns 371,885 shares of the energy company’s stock valued at $4,351,000 after buying an additional 18,582 shares during the period. Finally, HighTower Advisors LLC bought a new stake in shares of Ramaco Resources during the third quarter worth $148,000. 74.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on METC. Jefferies Financial Group decreased their price target on Ramaco Resources from $19.00 to $13.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Benchmark restated a “buy” rating on shares of Ramaco Resources in a research note on Wednesday, March 12th.

About Ramaco Resources

Ramaco Resources, Inc engages in the development, operation, and sale of metallurgical coal. Its development portfolio includes the Elk Creek project that covers an area of approximately 20,200 acres located in southern West Virginia; the Berwind property covering an area of approximately 62,500 acres situated on the border of West Virginia and Virginia; the Knox Creek property, which covers an area of approximately 64,050 acres is located in Virginia; the Maben property covering an area of approximately 28,000 acres situated in southwestern Pennsylvania southern West Virginia; and the Brook Mine property that covers an area of approximately 16,000 acres located in northeastern Wyoming.