Ramaco Resources, Inc. (NASDAQ:METC) Director Sells $1,818,000.00 in Stock

Ramaco Resources, Inc. (NASDAQ:METC) Director Peter A. Leidel sold 225,000 shares of Ramaco Resources stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $8.08, for a total value of $1,818,000.00. Following the completion of the sale, the director now directly owns 677,403 shares in the company, valued at approximately $5,473,416.24. This represents a 24.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Ramaco Resources Stock Performance

Ramaco Resources stock traded up $0.10 during mid-day trading on Thursday, hitting $8.46. 807,161 shares of the company’s stock traded hands, compared to its average volume of 565,097. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.35 and a quick ratio of 0.86. The firm has a 50 day simple moving average of $9.50 and a two-hundred day simple moving average of $10.50. Ramaco Resources, Inc. has a fifty-two week low of $8.09 and a fifty-two week high of $17.23. The stock has a market cap of $375.65 million, a price-to-earnings ratio of 13.02 and a beta of 1.17.

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

Ramaco Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.0688 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.25%. Ramaco Resources’s dividend payout ratio is presently 245.45%.

Hedge Funds Weigh In On Ramaco Resources

Institutional investors and hedge funds have recently made changes to their positions in the company. Pingora Partners LLC lifted its holdings in Ramaco Resources by 330.2% during the 3rd quarter. Pingora Partners LLC now owns 3,700 shares of the energy company’s stock worth $43,000 after purchasing an additional 2,840 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Ramaco Resources during the third quarter worth $45,000. AlphaQuest LLC bought a new stake in shares of Ramaco Resources in the fourth quarter valued at about $50,000. Campbell Capital Management Inc. acquired a new position in shares of Ramaco Resources in the fourth quarter valued at about $51,000. Finally, Jones Financial Companies Lllp acquired a new position in shares of Ramaco Resources in the fourth quarter valued at about $56,000. Institutional investors and hedge funds own 74.49% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on METC shares. Benchmark restated a “buy” rating on shares of Ramaco Resources in a research note on Wednesday, March 12th. Jefferies Financial Group reduced their price target on Ramaco Resources from $19.00 to $13.00 and set a “buy” rating for the company in a report on Monday, January 6th.

Ramaco Resources Company Profile

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.