Ramaco Resources, Inc. (NASDAQ:METC) Director Peter A. Leidel Sells 249,371 Shares of Stock

Ramaco Resources, Inc. (NASDAQ:METC) 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) 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

The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a $0.125 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.50 annualized dividend and a dividend yield of 3.04%. Ramaco Resources’s payout ratio is 34.25%.

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.