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 stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $8.09, for a total value 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 $8,291,198.30. The trade was a 8.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Ramaco Resources Price Performance

Shares of METC traded up $0.10 during midday trading on Thursday, hitting $8.46. 807,161 shares of the company traded hands, compared to its average volume of 565,097. Ramaco Resources, Inc. has a 52 week low of $8.09 and a 52 week high of $17.23. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.86 and a current ratio of 1.35. The firm has a 50 day moving average of $9.50 and a 200-day moving average of $10.50. The stock has a market cap of $375.65 million, a price-to-earnings ratio of 13.02 and a beta of 1.17.

Ramaco Resources (NASDAQ:METC) last released its quarterly 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 for 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 business’s quarterly revenue was down 15.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.24 EPS. On average, analysts forecast that Ramaco Resources, Inc. will post 0.05 EPS for the current fiscal 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 paid a dividend of $0.0688 per share. This represents a $0.28 dividend on an annualized basis and a yield of 3.25%. Ramaco Resources’s payout ratio is 245.45%.

Analyst Upgrades and Downgrades

METC has been the subject of several research analyst reports. Jefferies Financial Group cut their target price 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 reaffirmed a “buy” rating on shares of Ramaco Resources in a report on Wednesday, March 12th.

Hedge Funds Weigh In On Ramaco Resources

Institutional investors and hedge funds have recently made changes to their positions in the business. Pingora Partners LLC raised its stake in shares of Ramaco Resources by 330.2% in 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 during the period. Point72 DIFC Ltd purchased a new stake in Ramaco Resources in the 3rd quarter worth about $45,000. AlphaQuest LLC purchased a new stake in Ramaco Resources in the 4th quarter worth about $50,000. Campbell Capital Management Inc. bought a new stake in Ramaco Resources in the fourth quarter worth about $51,000. Finally, Jones Financial Companies Lllp purchased a new position in shares of Ramaco Resources during the fourth quarter valued at approximately $56,000. 74.49% of the stock is owned by hedge funds and other institutional investors.

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.