Ramaco Resources, Inc. (NASDAQ:METC) Major Shareholder Yorktown Xi Associates Llc Sells 89,501 Shares of Stock

Ramaco Resources, Inc. (NASDAQ:METC) major shareholder Yorktown Xi Associates Llc sold 89,501 shares of Ramaco Resources stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $8.09, for a total transaction of $724,063.09. Following the transaction, the insider now owns 1,024,870 shares of the company’s stock, valued at $8,291,198.30. This represents a 8.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Ramaco Resources Trading Up 1.2 %

NASDAQ METC opened at $8.46 on Friday. The firm has a market cap of $375.65 million, a PE ratio of 13.02 and a beta of 1.17. Ramaco Resources, Inc. has a 1-year low of $8.09 and a 1-year high of $17.23. 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 stock has a 50-day moving average of $9.50 and a 200-day moving average of $10.50.

Ramaco Resources (NASDAQ:METC) last released its earnings results on Monday, March 10th. The energy company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.36). The firm had revenue of $170.90 million during the quarter, compared to analysts’ expectations of $166.59 million. Ramaco Resources had a net margin of 5.35% and a return on equity of 10.17%. The company’s revenue for the quarter was down 15.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.24 EPS. As a group, sell-side analysts forecast that Ramaco Resources, Inc. will post 0.05 EPS for the current year.

Ramaco Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be given a dividend of $0.0688 per share. This represents a $0.28 annualized dividend and a dividend yield of 3.25%. Ramaco Resources’s payout ratio is currently 245.45%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on METC shares. Benchmark reissued a “buy” rating on shares of Ramaco Resources in a report on Wednesday, March 12th. Jefferies Financial Group lowered their price target on shares of Ramaco Resources from $19.00 to $13.00 and set a “buy” rating on the stock in a report on Monday, January 6th.

Institutional Investors Weigh In On Ramaco Resources

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP bought a new position in Ramaco Resources in the 3rd quarter worth approximately $22,127,000. Discovery Capital Management LLC CT bought a new stake in shares of Ramaco Resources in the 4th quarter worth about $9,289,000. CenterBook Partners LP bought a new position in shares of Ramaco Resources during the fourth quarter valued at approximately $6,862,000. Graham Capital Management L.P. bought a new stake in shares of Ramaco Resources during the fourth quarter worth $3,588,000. Finally, Point72 Asset Management L.P. boosted its position in Ramaco Resources by 98.9% in the 4th quarter. Point72 Asset Management L.P. now owns 696,531 shares of the energy company’s stock valued at $7,146,000 after buying an additional 346,265 shares during the period. 74.49% of the stock is currently owned by hedge funds and other institutional investors.

About Ramaco Resources

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.