Insider Selling: Ramaco Resources (NASDAQ:METC) Director Sells 200,000 Shares of Stock

Ramaco Resources, Inc. (NASDAQ:METC) Director Peter Leidel sold 200,000 shares of the company’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $14.22, for a total transaction of $2,844,000.00. Following the completion of the transaction, the director directly owned 2,444,239 shares in the company, valued at approximately $34,757,078.58. The trade was a 7.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Ramaco Resources Price Performance

Shares of Ramaco Resources stock traded down $0.52 during trading on Wednesday, hitting $14.28. The stock had a trading volume of 3,425,695 shares, compared to its average volume of 1,505,696. The firm has a market cap of $930.77 million, a price-to-earnings ratio of -12.98 and a beta of 1.31. Ramaco Resources, Inc. has a 12 month low of $9.70 and a 12 month high of $57.80. The business’s 50-day moving average is $14.85 and its 200 day moving average is $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 for the quarter, missing the consensus estimate of ($0.22) by ($0.08). The firm had revenue of $101.41 million during the quarter, compared to the consensus estimate of $129.72 million. Ramaco Resources had a negative return on equity of 13.44% and a negative net margin of 11.52%.The company’s revenue for the quarter was down 9.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.20) EPS. As a group, sell-side analysts anticipate that Ramaco Resources, Inc. will post -0.23 earnings per share for the current year.

Institutional Trading of Ramaco Resources

Several institutional investors have recently added to or reduced their stakes in the business. BankChampaign National Association purchased a new stake in Ramaco Resources during the first quarter valued at about $187,000. Royal Bank of Canada boosted its position in Ramaco Resources by 16.4% during the first quarter. Royal Bank of Canada now owns 81,583 shares of the energy company’s stock valued at $1,262,000 after buying an additional 11,474 shares during the period. Cetera Investment Advisers boosted its position in Ramaco Resources by 12.2% during the first quarter. Cetera Investment Advisers now owns 26,850 shares of the energy company’s stock valued at $415,000 after buying an additional 2,930 shares during the period. Dimensional Fund Advisors LP boosted its position in Ramaco Resources by 38.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,435,059 shares of the energy company’s stock valued at $22,179,000 after buying an additional 398,626 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Ramaco Resources by 8.1% during the first quarter. Bank of New York Mellon Corp now owns 108,724 shares of the energy company’s stock valued at $1,681,000 after buying an additional 8,114 shares during the period. 74.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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