Insider Selling: Ramaco Resources, Inc. (NASDAQ:METC) Major Shareholder Sells 89,501 Shares of Stock

Ramaco Resources, Inc. (NASDAQ:METC) major shareholder Yorktown Xi Associates Llc sold 89,501 shares of the business’s 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 completion of the sale, the insider now owns 1,024,870 shares of the company’s stock, valued at approximately $8,291,198.30. This represents a 8.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Ramaco Resources Price Performance

Shares of NASDAQ METC opened at $8.46 on Friday. The firm has a market cap of $375.65 million, a P/E ratio of 13.02 and a beta of 1.17. Ramaco Resources, Inc. has a 52 week low of $8.09 and a 52 week high of $17.23. The business’s 50 day moving average price is $9.50 and its 200 day moving average price is $10.50. The company has a quick ratio of 0.86, a current ratio of 1.35 and a debt-to-equity ratio of 0.23.

Ramaco Resources (NASDAQ:METC) last posted its quarterly earnings data on Monday, March 10th. The energy company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.36). Ramaco Resources had a return on equity of 10.17% and a net margin of 5.35%. The firm had revenue of $170.90 million for the quarter, compared to analysts’ expectations of $166.59 million. During the same quarter last year, the firm posted $0.24 earnings per share. Ramaco Resources’s quarterly revenue was down 15.7% on a year-over-year basis. On average, sell-side analysts expect that Ramaco Resources, Inc. will post 0.05 earnings per share for the current year.

Ramaco Resources Cuts Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 3.25%. Ramaco Resources’s dividend payout ratio is presently 245.45%.

Analyst Ratings Changes

Several analysts have issued reports on METC shares. 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. Benchmark reiterated a “buy” rating on shares of Ramaco Resources in a report on Wednesday, March 12th.

Institutional Trading of Ramaco Resources

Several hedge funds have recently modified their holdings of METC. Charles Schwab Investment Management Inc. raised its stake in Ramaco Resources by 231.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 262,354 shares of the energy company’s stock valued at $3,070,000 after buying an additional 183,163 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its stake in Ramaco Resources by 190.4% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 89,958 shares of the energy company’s stock valued at $1,053,000 after buying an additional 58,980 shares during the period. FMR LLC increased its stake in shares of Ramaco Resources by 5.3% during the third quarter. FMR LLC now owns 371,885 shares of the energy company’s stock worth $4,351,000 after acquiring an additional 18,582 shares during the period. HighTower Advisors LLC purchased a new position in shares of Ramaco Resources during the 3rd quarter worth approximately $148,000. Finally, Point72 DIFC Ltd purchased a new position in Ramaco Resources in the third quarter worth $45,000. 74.49% of the stock is currently owned by institutional investors and hedge funds.

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.