Ramaco Resources, Inc. (NASDAQ:METC) Director Peter A. Leidel Sells 1,600,000 Shares of Stock

Ramaco Resources, Inc. (NASDAQ:METC) Director Peter A. Leidel sold 1,600,000 shares of Ramaco Resources stock in a transaction on Friday, August 8th. The stock was sold at an average price of $18.75, for a total transaction of $30,000,000.00. Following the completion of the transaction, the director directly owned 2,502,930 shares of the company’s stock, valued at approximately $46,929,937.50. This represents a 39.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Ramaco Resources Stock Performance

METC stock opened at $23.49 on Tuesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.84 and a current ratio of 1.36. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of -52.20 and a beta of 1.35. Ramaco Resources, Inc. has a 1 year low of $6.30 and a 1 year high of $24.75. The stock’s fifty day moving average is $15.73 and its two-hundred day moving average is $11.50.

Ramaco Resources (NASDAQ:METC) last posted its earnings results on Thursday, July 31st. The energy company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.07). The company had revenue of $152.96 million during the quarter, compared to the consensus estimate of $131.55 million. Ramaco Resources had a negative net margin of 3.17% and a negative return on equity of 5.55%. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.08 earnings per share. On average, research analysts predict that Ramaco Resources, Inc. will post 0.05 EPS for the current year.

Ramaco Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were paid a dividend of $0.0688 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Friday, May 30th. Ramaco Resources’s payout ratio is currently -62.22%.

Institutional Investors Weigh In On Ramaco Resources

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Ramaco Resources by 3.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 41,656 shares of the energy company’s stock valued at $427,000 after purchasing an additional 1,425 shares in the last quarter. AlphaQuest LLC raised its stake in shares of Ramaco Resources by 30.6% during the first quarter. AlphaQuest LLC now owns 6,332 shares of the energy company’s stock valued at $52,000 after purchasing an additional 1,482 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Ramaco Resources by 15.3% during the fourth quarter. Legal & General Group Plc now owns 13,752 shares of the energy company’s stock valued at $141,000 after purchasing an additional 1,822 shares in the last quarter. MetLife Investment Management LLC raised its stake in shares of Ramaco Resources by 13.9% during the fourth quarter. MetLife Investment Management LLC now owns 16,189 shares of the energy company’s stock valued at $166,000 after purchasing an additional 1,970 shares in the last quarter. Finally, Empowered Funds LLC raised its stake in shares of Ramaco Resources by 1.8% during the first quarter. Empowered Funds LLC now owns 123,110 shares of the energy company’s stock valued at $1,013,000 after purchasing an additional 2,223 shares in the last quarter. 74.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Wall Street Zen downgraded shares of Ramaco Resources from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Benchmark reaffirmed a “buy” rating and issued a $24.00 price objective (up previously from $14.00) on shares of Ramaco Resources in a report on Tuesday, August 5th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $27.00 price objective (up previously from $15.00) on shares of Ramaco Resources in a report on Wednesday, July 16th.

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.