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 Ramaco Resources stock in a transaction on Wednesday, March 25th. The shares were 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 approximately $29,117,444.52. This represents a 8.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Ramaco Resources Price Performance

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

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

Analyst Ratings Changes

METC has been the topic of a number of research reports. Zacks Research upgraded shares of Ramaco Resources from a “strong sell” rating to a “hold” rating in a report on Friday, April 10th. Robert W. Baird reduced 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. Morgan Stanley reduced 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. B. Riley Financial reduced their target price on shares of Ramaco Resources from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Wednesday, May 13th. Finally, The Goldman Sachs Group upgraded shares of Ramaco Resources from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $14.00 to $15.00 in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Ramaco Resources has an average rating of “Moderate Buy” and an average price target of $27.29.

Institutional Trading of Ramaco Resources

A number of large investors have recently made changes to their positions in METC. Millennium Management LLC bought a new stake in shares of Ramaco Resources in the 3rd quarter worth about $23,451,000. Vanguard Group Inc. increased its holdings in shares of Ramaco Resources by 40.0% in the 3rd quarter. Vanguard Group Inc. now owns 2,335,257 shares of the energy company’s stock worth $77,507,000 after buying an additional 667,199 shares during the last quarter. Bamco Inc. NY bought a new stake in shares of Ramaco Resources in the 3rd quarter worth about $20,679,000. Merewether Investment Management LP purchased a new position in shares of Ramaco Resources during the 3rd quarter worth about $18,633,000. Finally, Goldman Sachs Group Inc. grew its holdings in Ramaco Resources by 74.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,160,898 shares of the energy company’s stock valued at $20,896,000 after purchasing an additional 496,150 shares during the last quarter. 74.49% of the stock is currently owned by 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.