Insider Selling: Ramaco Resources, Inc. (NASDAQ:METC) Director Sells 245,000 Shares of Stock

Ramaco Resources, Inc. (NASDAQ:METC) Director Peter A. Leidel sold 245,000 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $8.85, for a total transaction of $2,168,250.00. Following the completion of the sale, the director now owns 695,601 shares in the company, valued at $6,156,068.85. The trade was a 26.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Ramaco Resources Stock Performance

Ramaco Resources stock opened at $8.36 on Thursday. Ramaco Resources, Inc. has a fifty-two week low of $8.09 and a fifty-two week high of $17.23. The firm’s 50 day simple moving average is $9.54 and its 200-day simple moving average is $10.53. 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 company has a market cap of $371.21 million, a P/E ratio of 12.86 and a beta of 1.17.

Ramaco Resources (NASDAQ:METC) last posted its quarterly earnings data on Monday, March 10th. The energy company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.36). The firm had revenue of $170.90 million for the quarter, compared to analysts’ expectations of $166.59 million. Ramaco Resources had a return on equity of 10.17% and a net margin of 5.35%. The company’s revenue for the quarter was down 15.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.24 earnings per share. As a group, equities research analysts predict that Ramaco Resources, Inc. will post 0.05 EPS for the current year.

Ramaco Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be given a dividend of $0.0688 per share. This represents a $0.28 annualized dividend and a yield of 3.29%. Ramaco Resources’s payout ratio is 245.45%.

Institutional Investors Weigh In On Ramaco Resources

Institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP acquired a new position in shares of Ramaco Resources in the 3rd quarter valued at about $22,127,000. Discovery Capital Management LLC CT acquired a new position in Ramaco Resources in the 4th quarter valued at approximately $9,289,000. CenterBook Partners LP purchased a new stake in Ramaco Resources in the 4th quarter worth approximately $6,862,000. Graham Capital Management L.P. purchased a new stake in Ramaco Resources in the 4th quarter worth approximately $3,588,000. Finally, Point72 Asset Management L.P. boosted its stake in shares of Ramaco Resources by 98.9% during the 4th quarter. Point72 Asset Management L.P. now owns 696,531 shares of the energy company’s stock valued at $7,146,000 after buying an additional 346,265 shares during the period. 74.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Benchmark reaffirmed a “buy” rating on shares of Ramaco Resources in a report on Wednesday, March 12th. Jefferies Financial Group cut their target price on Ramaco Resources from $19.00 to $13.00 and set a “buy” rating on the stock in a research report on Monday, January 6th.

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.