Peter A. Leidel Sells 245,000 Shares of Ramaco Resources, Inc. (NASDAQ:METC) Stock

Ramaco Resources, Inc. (NASDAQ:METC) Director Peter A. Leidel sold 245,000 shares of the company’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $8.85, for a total transaction of $2,168,250.00. Following the completion of the sale, the director now directly owns 695,601 shares of the company’s stock, valued at approximately $6,156,068.85. This trade represents a 26.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Ramaco Resources Stock Down 5.1 %

NASDAQ:METC opened at $8.51 on Wednesday. The company’s 50-day simple moving average is $9.56 and its 200-day simple moving average is $10.54. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.86 and a current ratio of 1.35. Ramaco Resources, Inc. has a fifty-two week low of $8.17 and a fifty-two week high of $17.23. The stock has a market capitalization of $377.87 million, a P/E ratio of 13.09 and a beta of 1.17.

Ramaco Resources (NASDAQ:METC) last announced its earnings results on Monday, March 10th. The energy company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.36). The firm had revenue of $170.90 million during 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%. Ramaco Resources’s revenue was down 15.7% on a year-over-year basis. During the same quarter last year, the business earned $0.24 earnings per share. On average, equities analysts anticipate that Ramaco Resources, Inc. will post 0.05 earnings per share for the current fiscal year.

Ramaco Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors 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 yield of 3.23%. Ramaco Resources’s dividend payout ratio is currently 245.45%.

Institutional Investors Weigh In On Ramaco Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in METC. Pingora Partners LLC increased its holdings in shares of Ramaco Resources by 330.2% during the third quarter. Pingora Partners LLC now owns 3,700 shares of the energy company’s stock valued at $43,000 after acquiring an additional 2,840 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in Ramaco Resources during the 3rd quarter worth approximately $45,000. AlphaQuest LLC acquired a new position in Ramaco Resources during the 4th quarter valued at approximately $50,000. Campbell Capital Management Inc. purchased a new position in shares of Ramaco Resources in the fourth quarter worth $51,000. Finally, Jones Financial Companies Lllp purchased a new position in shares of Ramaco Resources in the fourth quarter worth $56,000. 74.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on METC. Benchmark reaffirmed a “buy” rating on shares of Ramaco Resources in a research report on Wednesday, March 12th. Jefferies Financial Group dropped their target price on Ramaco Resources from $19.00 to $13.00 and set a “buy” rating on the stock in a research report on Monday, January 6th.

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.