Insider Selling: Ramaco Resources, Inc. (NASDAQ:METC) Director Sells 180,936 Shares of Stock

Ramaco Resources, Inc. (NASDAQ:METC) Director Peter A. Leidel sold 180,936 shares of the business’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $8.82, for a total value of $1,595,855.52. Following the sale, the director now owns 708,001 shares in the company, valued at $6,244,568.82. This represents a 20.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Ramaco Resources Trading Down 5.1 %

NASDAQ METC opened at $8.51 on Wednesday. Ramaco Resources, Inc. has a 12 month low of $8.17 and a 12 month high of $17.23. The company has a current ratio of 1.35, a quick ratio of 0.86 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $377.87 million, a PE ratio of 13.09 and a beta of 1.17. The business’s 50-day moving average price is $9.56 and its two-hundred day moving average price is $10.54.

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

Ramaco Resources Cuts Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend 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 and hedge funds have recently made changes to their positions in the stock. Pingora Partners LLC increased its holdings in shares of Ramaco Resources by 330.2% during the third quarter. Pingora Partners LLC now owns 3,700 shares of the energy company’s stock valued at $43,000 after acquiring an additional 2,840 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in Ramaco Resources in the 3rd quarter valued at $45,000. AlphaQuest LLC acquired a new position in Ramaco Resources during the fourth quarter worth $50,000. Campbell Capital Management Inc. bought a new stake in shares of Ramaco Resources during the fourth quarter worth about $51,000. Finally, Jones Financial Companies Lllp acquired a new stake in shares of Ramaco Resources in the 4th quarter worth about $56,000. Institutional investors own 74.49% of the company’s stock.

Wall Street Analyst Weigh In

METC has been the topic of several research reports. Jefferies Financial Group reduced their price target on Ramaco Resources from $19.00 to $13.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Benchmark reissued a “buy” rating on shares of Ramaco Resources in a report 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.