Ramaco Resources, Inc. (NASDAQ:METC – Get Free Report) Director Peter Leidel sold 200,000 shares of the company’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $14.22, for a total transaction of $2,844,000.00. Following the sale, the director owned 2,444,239 shares of the company’s stock, valued at approximately $34,757,078.58. The trade was a 7.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Ramaco Resources Trading Down 3.5%
NASDAQ METC traded down $0.52 during trading on Wednesday, hitting $14.28. 3,425,695 shares of the company’s stock traded hands, compared to its average volume of 1,505,696. The stock has a fifty day moving average of $14.85 and a two-hundred day moving average of $16.46. The company has a debt-to-equity ratio of 1.06, a current ratio of 4.88 and a quick ratio of 3.93. Ramaco Resources, Inc. has a 12-month low of $9.70 and a 12-month high of $57.80. The firm has a market cap of $930.77 million, a P/E ratio of -12.98 and a beta of 1.31.
Ramaco Resources (NASDAQ:METC – Get Free Report) last posted its quarterly earnings results on Monday, May 11th. The energy company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.08). Ramaco Resources had a negative net margin of 11.52% and a negative return on equity of 13.44%. The business had revenue of $101.41 million for the quarter, compared to analysts’ expectations of $129.72 million. During the same quarter in the previous year, the company earned ($0.20) earnings per share. The business’s quarterly revenue was down 9.7% on a year-over-year basis. As a group, sell-side analysts expect that Ramaco Resources, Inc. will post -0.23 EPS for the current year.
Institutional Trading of Ramaco Resources
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on the stock. Robert W. Baird dropped their target price on shares of Ramaco Resources from $30.00 to $25.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. B. Riley Financial dropped their target price on shares of Ramaco Resources from $24.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, May 13th. The Goldman Sachs Group upgraded shares of Ramaco Resources from a “sell” rating to a “neutral” rating and increased their target price for the stock from $14.00 to $15.00 in a report on Tuesday, April 21st. Zacks Research upgraded shares of Ramaco Resources from a “strong sell” rating to a “hold” rating in a report on Friday, April 10th. Finally, Morgan Stanley dropped their target price on shares of Ramaco Resources from $17.50 to $17.00 and set an “equal weight” rating for the company in a report on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $27.29.
Read Our Latest Stock Report on METC
About Ramaco Resources
Ramaco Resources, Inc (NASDAQ:METC) is a U.S.-based producer of premium metallurgical coal and industrial minerals, focused on supplying the steel and allied industries. The company’s operations are centered in the Appalachian region of West Virginia, where it develops, mines and processes high-carbon coal products designed to meet the quality requirements of blast‐furnace and electric‐arc furnace steelmakers.
The firm’s flagship asset is the Elk Creek underground mine in Wyoming County, West Virginia, which began commercial production in 2019 and delivers a range of high‐grade metallurgical and anthracite coals.
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