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 Friday, March 20th. The stock was sold at an average price of $13.48, for a total transaction of $2,696,000.00. Following the completion of the sale, the director owned 2,230,926 shares of the company’s stock, valued at approximately $30,072,882.48. This trade represents a 8.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Ramaco Resources Stock Down 3.5%

Shares of NASDAQ:METC traded down $0.52 during midday trading 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 debt-to-equity ratio of 1.06, a current ratio of 4.88 and a quick ratio of 3.93. The stock’s fifty day moving average price is $14.85 and its 200-day moving average price is $16.46. The stock has a market capitalization of $930.77 million, a P/E ratio of -12.98 and a beta of 1.31. Ramaco Resources, Inc. has a one year low of $9.70 and a one year high of $57.80.

Ramaco Resources (NASDAQ:METC) last issued 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 return on equity of 13.44% and a negative net margin of 11.52%.The firm’s quarterly revenue was down 9.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.20) EPS. Equities research analysts expect that Ramaco Resources, Inc. will post -0.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on METC shares. Zacks Research upgraded shares of Ramaco Resources from a “strong sell” rating to a “hold” rating in a research note on Friday, April 10th. 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. B. Riley Financial lowered their target price on shares of Ramaco Resources from $24.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. The Goldman Sachs Group upgraded shares of Ramaco Resources from a “sell” rating to a “neutral” rating and boosted their target price for the company from $14.00 to $15.00 in a research note on Tuesday, April 21st. Finally, Robert W. Baird reduced their price target on shares of Ramaco Resources from $30.00 to $25.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $27.29.

Hedge Funds Weigh In On Ramaco Resources

Hedge funds and other institutional investors have recently modified their holdings of the company. Lunt Capital Management Inc. boosted its holdings in shares of Ramaco Resources by 801.3% during the fourth quarter. Lunt Capital Management Inc. now owns 557,899 shares of the energy company’s stock valued at $10,042,000 after acquiring an additional 495,999 shares during the period. Vanguard Group Inc. lifted its holdings in Ramaco Resources by 40.0% in the third quarter. Vanguard Group Inc. now owns 2,335,257 shares of the energy company’s stock worth $77,507,000 after purchasing an additional 667,199 shares during the period. Ghisallo Capital Management LLC acquired a new stake in Ramaco Resources in the third quarter worth about $9,957,000. Cinctive Capital Management LP acquired a new stake in Ramaco Resources in the third quarter worth about $2,707,000. Finally, Bamco Inc. NY acquired a new stake in Ramaco Resources in the third quarter worth about $20,679,000. Institutional investors and hedge funds own 74.49% of the company’s stock.

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.