Ramaco Resources (NASDAQ:METC) Director Sells $68,377.54 in Stock

Ramaco Resources, Inc. (NASDAQ:METC) Director Peter Leidel sold 6,343 shares of the stock in a transaction on Thursday, March 26th. The stock was sold at an average price of $10.78, for a total transaction of $68,377.54. Following the completion of the sale, the director owned 821,709 shares in the company, valued at $8,858,023.02. The trade was a 0.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Ramaco Resources Stock Up 2.6%

NASDAQ:METC opened at $15.26 on Friday. The firm has a market capitalization of $994.65 million, a P/E ratio of -13.87 and a beta of 1.31. Ramaco Resources, Inc. has a 1-year low of $9.75 and a 1-year high of $57.80. The company’s fifty day moving average price is $14.85 and its 200-day moving average price is $16.44. The company has a debt-to-equity ratio of 1.06, a current ratio of 4.88 and a quick ratio of 3.93.

Ramaco Resources (NASDAQ:METC) last released its quarterly earnings data on Monday, May 11th. The energy company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.08). The business had revenue of $101.41 million during the quarter, compared to analyst estimates of $129.72 million. Ramaco Resources had a negative return on equity of 13.44% and a negative net margin of 11.52%.The firm’s revenue was down 9.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.20) EPS. As a group, equities research analysts anticipate that Ramaco Resources, Inc. will post -0.27 EPS for the current year.

Analyst Ratings Changes

Several analysts recently commented on the stock. The Goldman Sachs Group upgraded shares of Ramaco Resources from a “sell” rating to a “neutral” rating and raised their price target for the company from $14.00 to $15.00 in a research report on Tuesday, April 21st. Morgan Stanley dropped their price target on shares of Ramaco Resources from $17.50 to $17.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 9th. 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 report on Wednesday, May 13th. Zacks Research upgraded shares of Ramaco Resources from a “strong sell” rating to a “hold” rating in a research report on Friday, April 10th. Finally, Robert W. Baird dropped their price target on shares of Ramaco Resources from $30.00 to $25.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $27.29.

Hedge Funds Weigh In On Ramaco Resources

Several hedge funds and other institutional investors have recently modified their holdings of the business. Bridgeway Capital Management LLC lifted its stake in shares of Ramaco Resources by 0.4% in the third quarter. Bridgeway Capital Management LLC now owns 122,998 shares of the energy company’s stock worth $4,082,000 after buying an additional 536 shares in the last quarter. AlphaQuest LLC lifted its stake in shares of Ramaco Resources by 12.6% in the third quarter. AlphaQuest LLC now owns 5,460 shares of the energy company’s stock worth $181,000 after buying an additional 610 shares in the last quarter. Allworth Financial LP lifted its stake in shares of Ramaco Resources by 3,603.6% in the third quarter. Allworth Financial LP now owns 1,037 shares of the energy company’s stock worth $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 in the third quarter worth about $38,000. Finally, US Bancorp DE lifted its stake in shares of Ramaco Resources by 2.7% in the third quarter. US Bancorp DE now owns 43,901 shares of the energy company’s stock worth $1,457,000 after buying an additional 1,171 shares in the last quarter. 74.49% of the stock is owned by hedge funds and other institutional investors.

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.