Peter Leidel Sells 200,000 Shares of Ramaco Resources (NASDAQ:METC) Stock

Ramaco Resources, Inc. (NASDAQ:METC) Director Peter Leidel sold 200,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 25th. The stock was sold at an average price of $14.06, for a total transaction of $2,812,000.00. Following the completion of the sale, the director owned 2,070,942 shares in the company, valued at $29,117,444.52. This represents a 8.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Ramaco Resources Stock Performance

METC stock traded down $0.52 on Wednesday, hitting $14.28. The company had a trading volume of 3,425,695 shares, compared to its average volume of 1,505,696. Ramaco Resources, Inc. has a 12-month low of $9.70 and a 12-month high of $57.80. The company has a current ratio of 4.88, a quick ratio of 3.93 and a debt-to-equity ratio of 1.06. The stock’s 50-day simple moving average is $14.85 and its 200 day simple moving average is $16.46. The stock has a market cap of $930.77 million, a price-to-earnings ratio of -12.98 and a beta of 1.31.

Ramaco Resources (NASDAQ:METC) last issued its earnings results on Monday, May 11th. The energy company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.08). Ramaco Resources had a negative return on equity of 13.44% and a negative net margin of 11.52%.The company had revenue of $101.41 million during the quarter, compared to analysts’ expectations of $129.72 million. During the same quarter in the prior year, the business posted ($0.20) EPS. The company’s revenue for the quarter was down 9.7% compared to the same quarter last year. As a group, equities research analysts expect that Ramaco Resources, Inc. will post -0.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Allworth Financial LP lifted its stake in shares of Ramaco Resources by 3,603.6% during the 3rd quarter. Allworth Financial LP now owns 1,037 shares of the energy company’s stock valued at $34,000 after buying an additional 1,009 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of Ramaco Resources during the 3rd quarter valued at $38,000. Quarry LP purchased a new position in shares of Ramaco Resources during the 4th quarter valued at $27,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of Ramaco Resources by 14,250.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,722 shares of the energy company’s stock valued at $31,000 after buying an additional 1,710 shares in the last quarter. Finally, Spirit of America Management Corp NY purchased a new position in shares of Ramaco Resources during the 4th quarter valued at $38,000. Hedge funds and other institutional investors own 74.49% of the company’s stock.

Analyst Ratings Changes

METC has been the topic of several research reports. Robert W. Baird dropped their target price on shares of Ramaco Resources from $30.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. The Goldman Sachs Group upgraded shares of Ramaco Resources from a “sell” rating to a “neutral” rating and raised their target price for the stock from $14.00 to $15.00 in a report on Tuesday, April 21st. Zacks Research upgraded shares of Ramaco Resources from a “strong sell” rating to a “hold” rating in a report on Friday, April 10th. Morgan Stanley dropped their target price on shares of Ramaco Resources from $17.50 to $17.00 and set an “equal weight” rating on the stock in a report on Thursday, April 9th. Finally, B. Riley Financial dropped their price target on shares of Ramaco Resources from $24.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.