Ramaco Resources (NASDAQ:METC) Stock Price Down 7.5% Following Insider Selling

Ramaco Resources, Inc. (NASDAQ:METC) shares dropped 7.5% during mid-day trading on Wednesday after an insider sold shares in the company. The company traded as low as $13.80 and last traded at $13.6960. Approximately 944,795 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 2,139,815 shares. The stock had previously closed at $14.80.

Specifically, Director Peter A. Leidel sold 20,115 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $15.18, for a total transaction of $305,345.70. Following the completion of the transaction, the director directly owned 2,497,567 shares of the company’s stock, valued at approximately $37,913,067.06. This trade represents a 0.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Peter A. Leidel sold 6,081 shares of the firm’s stock in a transaction dated Monday, March 30th. The stock was sold at an average price of $10.34, for a total value of $62,877.54. Following the sale, the director directly owned 814,793 shares in the company, valued at approximately $8,424,959.62. This trade represents a 0.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In other news, Director Peter A. Leidel sold 21,625 shares of the company’s stock in a transaction that occurred on Friday, March 27th. The stock was sold at an average price of $10.93, for a total value of $236,361.25. Following the completion of the sale, the director directly owned 816,311 shares in the company, valued at $8,922,279.23. This represents a 2.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Analysts Set New Price Targets

Several research firms have weighed in on METC. B. Riley Financial decreased 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. Zacks Research upgraded shares of Ramaco Resources from a “strong sell” rating to a “hold” rating in a research note on Friday, April 10th. Robert W. Baird dropped their price objective 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. The Goldman Sachs Group raised shares of Ramaco Resources from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $14.00 to $15.00 in a research report on Tuesday, April 21st. Finally, Morgan Stanley lowered their target price on shares of Ramaco Resources from $17.50 to $17.00 and set an “equal weight” rating for the company in a research note on Thursday, April 9th. One investment 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. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $27.29.

Ramaco Resources Price Performance

The stock has a market cap of $969.23 million, a PE ratio of -13.52 and a beta of 1.31. The company has a 50-day simple moving average of $14.84 and a 200-day simple moving average of $16.45. 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 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). Ramaco Resources had a negative net margin of 11.52% and a negative return on equity of 13.44%. 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 earned ($0.20) EPS. The business’s revenue for the quarter was down 9.7% compared to the same quarter last year. Sell-side analysts anticipate that Ramaco Resources, Inc. will post -0.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Ramaco Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lunt Capital Management Inc. boosted its holdings in Ramaco Resources by 801.3% in the fourth quarter. Lunt Capital Management Inc. now owns 557,899 shares of the energy company’s stock valued at $10,042,000 after purchasing an additional 495,999 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Ramaco Resources by 40.0% during the 3rd quarter. Vanguard Group Inc. now owns 2,335,257 shares of the energy company’s stock valued at $77,507,000 after buying an additional 667,199 shares during the last quarter. Ghisallo Capital Management LLC bought a new position in shares of Ramaco Resources during the third quarter worth about $9,957,000. Cinctive Capital Management LP bought a new position in Ramaco Resources during the 3rd quarter worth $2,707,000. Finally, Bamco Inc. NY acquired a new stake in shares of Ramaco Resources in the 3rd quarter worth about $20,679,000. 74.49% of the stock is owned by hedge funds and other institutional investors.

About Ramaco Resources

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.