Insider Selling: Ramaco Resources, Inc. (NASDAQ:METC) Major Shareholder Sells 89,501 Shares of Stock

Ramaco Resources, Inc. (NASDAQ:METC) major shareholder Yorktown Xi Associates Llc sold 89,501 shares of Ramaco Resources stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $8.09, for a total value of $724,063.09. Following the sale, the insider now owns 1,024,870 shares of the company’s stock, valued at approximately $8,291,198.30. This trade represents a 8.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Ramaco Resources Stock Up 1.2 %

Shares of Ramaco Resources stock traded up $0.10 during trading on Thursday, hitting $8.46. 807,161 shares of the stock traded hands, compared to its average volume of 565,097. 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 stock’s fifty day simple moving average is $9.50 and its 200 day simple moving average is $10.50. The firm has a market cap of $375.65 million, a P/E ratio of 13.02 and a beta of 1.17. Ramaco Resources, Inc. has a 52-week low of $8.09 and a 52-week high of $17.23.

Ramaco Resources (NASDAQ:METC) last posted its earnings results 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 net margin of 5.35% and a return on equity of 10.17%. The business had revenue of $170.90 million for the quarter, compared to analysts’ expectations of $166.59 million. During the same period last year, the business posted $0.24 EPS. The company’s revenue for the quarter was down 15.7% on a year-over-year basis. On average, equities analysts predict that Ramaco Resources, Inc. will post 0.05 earnings per share for the current fiscal year.

Ramaco Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be paid a $0.0688 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 3.25%. Ramaco Resources’s dividend payout ratio (DPR) is 245.45%.

Analyst Ratings Changes

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

Institutional Trading of Ramaco Resources

A number of hedge funds have recently bought and sold shares of METC. Wellington Management Group LLP purchased a new position in shares of Ramaco Resources in the 3rd quarter valued at $22,127,000. Discovery Capital Management LLC CT bought a new stake in Ramaco Resources during the fourth quarter valued at about $9,289,000. CenterBook Partners LP purchased a new position in Ramaco Resources in the fourth quarter valued at about $6,862,000. Graham Capital Management L.P. purchased a new position in Ramaco Resources in the fourth quarter valued at about $3,588,000. Finally, Point72 Asset Management L.P. raised its holdings in Ramaco Resources by 98.9% in the fourth quarter. Point72 Asset Management L.P. now owns 696,531 shares of the energy company’s stock worth $7,146,000 after purchasing an additional 346,265 shares in the last quarter. Hedge funds and other institutional investors own 74.49% of the company’s stock.

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.