Ramaco Resources, Inc. (NASDAQ:METC – Get Free Report) Director Peter A. Leidel sold 249,371 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $16.22, for a total transaction of $4,044,797.62. Following the sale, the director now owns 720,796 shares of the company’s stock, valued at $11,691,311.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Ramaco Resources Stock Down 3.9 %
Shares of METC opened at $16.43 on Tuesday. The company’s 50-day moving average price is $11.47 and its 200 day moving average price is $9.60. The company has a current ratio of 1.19, a quick ratio of 0.83 and a debt-to-equity ratio of 0.21. Ramaco Resources, Inc. has a 12-month low of $7.26 and a 12-month high of $19.94. The firm has a market cap of $865.70 million, a P/E ratio of 11.25 and a beta of 1.06.
Ramaco Resources (NASDAQ:METC – Get Free Report) last announced its quarterly earnings results on Tuesday, November 7th. The energy company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. The business had revenue of $187.00 million during the quarter, compared to analysts’ expectations of $159.63 million. Ramaco Resources had a return on equity of 20.69% and a net margin of 10.65%. The business’s revenue for the quarter was up 36.0% on a year-over-year basis. During the same quarter last year, the business posted $0.67 earnings per share. On average, sell-side analysts forecast that Ramaco Resources, Inc. will post 1.75 earnings per share for the current year.
Ramaco Resources Dividend Announcement
Analysts Set New Price Targets
METC has been the subject of several recent research reports. B. Riley boosted their target price on shares of Ramaco Resources from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, September 27th. Jefferies Financial Group increased their target price on shares of Ramaco Resources from $10.50 to $12.50 and gave the stock a “buy” rating in a research note on Wednesday, October 4th. Benchmark raised their price objective on shares of Ramaco Resources from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, October 18th. Finally, BMO Capital Markets raised their price target on shares of Ramaco Resources from $10.00 to $12.00 and gave the stock a “market perform” rating in a report on Thursday, November 9th.
Institutional Trading of Ramaco Resources
Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. grew its stake in Ramaco Resources by 533.0% in the first quarter. JPMorgan Chase & Co. now owns 959,504 shares of the energy company’s stock valued at $15,160,000 after purchasing an additional 807,921 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Ramaco Resources by 103.5% during the first quarter. Bank of New York Mellon Corp now owns 72,164 shares of the energy company’s stock worth $1,140,000 after purchasing an additional 36,707 shares during the period. Citigroup Inc. lifted its holdings in shares of Ramaco Resources by 87.3% in the first quarter. Citigroup Inc. now owns 37,405 shares of the energy company’s stock valued at $591,000 after purchasing an additional 17,435 shares in the last quarter. Bank of Montreal Can acquired a new position in Ramaco Resources during the first quarter worth approximately $243,000. Finally, BlackRock Inc. lifted its stake in Ramaco Resources by 16.8% during the first quarter. BlackRock Inc. now owns 195,732 shares of the energy company’s stock worth $3,093,000 after purchasing an additional 28,112 shares during the last quarter. Institutional investors own 49.68% of the company’s stock.
About Ramaco Resources
Ramaco Resources, Inc operates, develops, and sells metallurgical coal. Its development portfolio includes the Elk Creek project located in southern West Virginia; the Berwind property situated on the border of West Virginia and Virginia; the Knox Creek property is located in Virginia; and the RAM Mine property situated in southwestern Pennsylvania.
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