Ramaco Resources, Inc. (NASDAQ:METC) Major Shareholder Sells $724,063.09 in Stock

Ramaco Resources, Inc. (NASDAQ:METC) major shareholder Yorktown Xi Associates Llc sold 89,501 shares of the firm’s stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $8.09, for a total value of $724,063.09. Following the transaction, the insider now directly owns 1,024,870 shares in the company, valued at $8,291,198.30. This trade represents a 8.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Ramaco Resources Price Performance

Shares of Ramaco Resources stock opened at $8.16 on Friday. Ramaco Resources, Inc. has a 52 week low of $8.09 and a 52 week high of $17.23. The company has a current ratio of 1.35, a quick ratio of 0.86 and a debt-to-equity ratio of 0.23. The stock has a market cap of $362.33 million, a PE ratio of 12.55 and a beta of 1.17. The company’s 50-day moving average price is $9.48 and its two-hundred day moving average price is $10.50.

Ramaco Resources (NASDAQ:METC) last released its earnings results on Monday, March 10th. The energy company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.36). The business had revenue of $170.90 million during the quarter, compared to the consensus estimate of $166.59 million. Ramaco Resources had a return on equity of 10.17% and a net margin of 5.35%. The firm’s revenue for the quarter was down 15.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.24 earnings per share. As a group, sell-side analysts anticipate that Ramaco Resources, Inc. will post 0.05 EPS for the current fiscal year.

Ramaco Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be given a dividend of $0.0688 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.37%. Ramaco Resources’s dividend payout ratio (DPR) is presently 245.45%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Benchmark restated a “buy” rating on shares of Ramaco Resources in a research report on Wednesday, March 12th. 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 report on Monday, January 6th.

Hedge Funds Weigh In On Ramaco Resources

Hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP acquired a new position in shares of Ramaco Resources in the 3rd quarter valued at $22,127,000. Dimensional Fund Advisors LP lifted its stake in Ramaco Resources by 8.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,745,409 shares of the energy company’s stock valued at $17,907,000 after buying an additional 142,423 shares in the last quarter. Discovery Capital Management LLC CT acquired a new position in shares of Ramaco Resources in the fourth quarter worth about $9,289,000. American Century Companies Inc. increased its position in shares of Ramaco Resources by 10.8% in the fourth quarter. American Century Companies Inc. now owns 870,957 shares of the energy company’s stock worth $8,936,000 after acquiring an additional 84,734 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of Ramaco Resources by 39.0% during the fourth quarter. Wells Fargo & Company MN now owns 797,283 shares of the energy company’s stock valued at $8,180,000 after acquiring an additional 223,682 shares during the period. 74.49% of the stock is currently owned by institutional investors and hedge funds.

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.