Ramaco Resources, Inc. (NASDAQ:METC) Director Sells $1,595,855.52 in Stock

Ramaco Resources, Inc. (NASDAQ:METC) Director Peter A. Leidel sold 180,936 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $8.82, for a total transaction of $1,595,855.52. Following the transaction, the director now directly owns 708,001 shares of the company’s stock, valued at $6,244,568.82. This represents a 20.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Ramaco Resources Trading Down 1.8 %

Ramaco Resources stock opened at $8.36 on Thursday. The company has a current ratio of 1.35, a quick ratio of 0.86 and a debt-to-equity ratio of 0.23. The firm has a market cap of $371.21 million, a PE ratio of 12.86 and a beta of 1.17. The stock’s 50 day simple moving average is $9.54 and its two-hundred day simple moving average is $10.53. Ramaco Resources, Inc. has a 12 month low of $8.09 and a 12 month high of $17.23.

Ramaco Resources (NASDAQ:METC) last released its quarterly earnings results on Monday, March 10th. The energy company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.36). The firm had revenue of $170.90 million for the quarter, compared to analyst estimates of $166.59 million. Ramaco Resources had a net margin of 5.35% and a return on equity of 10.17%. The firm’s quarterly revenue was down 15.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.24 EPS. Analysts anticipate that Ramaco Resources, Inc. will post 0.05 earnings per share for the current year.

Ramaco Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be issued a $0.0688 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 3.29%. Ramaco Resources’s payout ratio is 245.45%.

Hedge Funds Weigh In On Ramaco Resources

A number of hedge funds have recently bought and sold shares of METC. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Ramaco Resources by 3.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 41,656 shares of the energy company’s stock worth $427,000 after buying an additional 1,425 shares during the period. Arkfeld Wealth Strategies L.L.C. increased its holdings in Ramaco Resources by 0.8% in the 4th quarter. Arkfeld Wealth Strategies L.L.C. now owns 232,755 shares of the energy company’s stock worth $2,251,000 after acquiring an additional 1,748 shares in the last quarter. Legal & General Group Plc increased its holdings in Ramaco Resources by 15.3% in the 4th quarter. Legal & General Group Plc now owns 13,752 shares of the energy company’s stock worth $141,000 after acquiring an additional 1,822 shares in the last quarter. MetLife Investment Management LLC raised its position in Ramaco Resources by 13.9% during the fourth quarter. MetLife Investment Management LLC now owns 16,189 shares of the energy company’s stock worth $166,000 after acquiring an additional 1,970 shares during the period. Finally, New York State Common Retirement Fund lifted its holdings in Ramaco Resources by 12.5% during the fourth quarter. New York State Common Retirement Fund now owns 17,988 shares of the energy company’s stock valued at $185,000 after purchasing an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 74.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on METC. Jefferies Financial Group reduced their target price on shares of Ramaco Resources from $19.00 to $13.00 and set a “buy” rating for the company in a report on Monday, January 6th. Benchmark reiterated a “buy” rating on shares of Ramaco Resources in a research note on Wednesday, March 12th.

Ramaco Resources Company Profile

Ramaco Resources, Inc engages in the development, operation, and sale of metallurgical coal. Its development portfolio includes the Elk Creek project that covers an area of approximately 20,200 acres located in southern West Virginia; the Berwind property covering an area of approximately 62,500 acres situated on the border of West Virginia and Virginia; the Knox Creek property, which covers an area of approximately 64,050 acres is located in Virginia; the Maben property covering an area of approximately 28,000 acres situated in southwestern Pennsylvania southern West Virginia; and the Brook Mine property that covers an area of approximately 16,000 acres located in northeastern Wyoming.