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 firm’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $8.85, for a total value of $2,168,250.00. Following the completion of the sale, the director now directly owns 695,601 shares in the company, valued at $6,156,068.85. This trade represents a 26.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Ramaco Resources Stock Performance

Shares of METC stock traded up $0.18 during mid-day trading on Monday, reaching $8.97. The stock had a trading volume of 1,000,017 shares, compared to its average volume of 567,479. The firm has a market cap of $398.29 million, a PE ratio of 13.80 and a beta of 1.17. 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, Inc. has a one year low of $8.17 and a one year high of $17.23. The firm’s 50 day simple moving average is $9.56 and its 200 day simple moving average is $10.54.

Ramaco Resources (NASDAQ:METC) last posted its quarterly earnings results on Monday, March 10th. The energy company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.36). Ramaco Resources had a return on equity of 10.17% and a net margin of 5.35%. The business had revenue of $170.90 million for the quarter, compared to analyst estimates of $166.59 million. During the same quarter in the prior year, the firm earned $0.24 EPS. The firm’s quarterly revenue was down 15.7% on a year-over-year basis. On average, analysts forecast that Ramaco Resources, Inc. will post 0.05 EPS for the current 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 paid a $0.0688 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 3.07%. Ramaco Resources’s payout ratio is currently 245.45%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on METC. Jefferies Financial Group reduced their price objective on Ramaco Resources from $19.00 to $13.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Benchmark reissued a “buy” rating on shares of Ramaco Resources in a report on Wednesday, March 12th.

Hedge Funds Weigh In On Ramaco Resources

A number of hedge funds have recently modified their holdings of METC. Wellington Management Group LLP bought a new position in shares of Ramaco Resources during the third quarter valued at $22,127,000. Dimensional Fund Advisors LP increased its position in shares of Ramaco Resources by 8.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,745,409 shares of the energy company’s stock worth $17,907,000 after purchasing an additional 142,423 shares in the last quarter. Discovery Capital Management LLC CT bought a new position in Ramaco Resources during the 4th quarter valued at about $9,289,000. American Century Companies Inc. boosted its position in Ramaco Resources by 10.8% in the fourth quarter. American Century Companies Inc. now owns 870,957 shares of the energy company’s stock valued at $8,936,000 after buying an additional 84,734 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in Ramaco Resources by 39.0% during the fourth quarter. Wells Fargo & Company MN now owns 797,283 shares of the energy company’s stock worth $8,180,000 after buying an additional 223,682 shares during the last quarter. 74.49% of the stock is 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.