Insider Selling: Ramaco Resources, Inc. (NASDAQ:METC) Major Shareholder Sells 93,574 Shares of Stock

Ramaco Resources, Inc. (NASDAQ:METC) major shareholder Yorktown Xi Associates Llc sold 93,574 shares of Ramaco Resources stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $16.22, for a total value of $1,517,770.28. Following the sale, the insider now owns 1,090,529 shares in the company, valued at approximately $17,688,380.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Yorktown Xi Associates Llc also recently made the following trade(s):

• On Monday, November 20th, Yorktown Xi Associates Llc sold 16,961 shares of Ramaco Resources stock. The shares were sold at an average price of $16.46, for a total transaction of $279,178.06.

Ramaco Resources Stock Performance

METC stock traded down $0.66 during trading on Monday, hitting $16.43. The company had a trading volume of 1,460,118 shares, compared to its average volume of 487,794. Ramaco Resources, Inc. has a 1-year low of $7.26 and a 1-year high of $19.94. The company has a quick ratio of 0.83, a current ratio of 1.19 and a debt-to-equity ratio of 0.21. The firm has a 50-day moving average price of $11.47 and a 200-day moving average price of $9.60. The firm has a market cap of $865.70 million, a PE ratio of 11.25 and a beta of 1.06.

Ramaco Resources (NASDAQ:METC) last issued its quarterly earnings results on Tuesday, November 7th. The energy company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. Ramaco Resources had a net margin of 10.65% and a return on equity of 20.69%. The business had revenue of $187.00 million for the quarter, compared to analyst estimates of $159.63 million. During the same period in the previous year, the business posted $0.67 earnings per share. The business’s revenue was up 36.0% compared to the same quarter last year. On average, analysts expect that Ramaco Resources, Inc. will post 1.75 earnings per share for the current year.

Ramaco Resources Announces Dividend

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. grew its stake in shares of Ramaco Resources by 6.7% during the 2nd quarter. BlackRock Inc. now owns 1,653,575 shares of the energy company’s stock worth $13,956,000 after purchasing an additional 103,813 shares during the period. Vanguard Group Inc. grew its stake in shares of Ramaco Resources by 15.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,477,720 shares of the energy company’s stock worth $13,595,000 after purchasing an additional 197,224 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Ramaco Resources by 533.0% during the 1st quarter. JPMorgan Chase & Co. now owns 959,504 shares of the energy company’s stock worth $15,160,000 after purchasing an additional 807,921 shares during the period. Millennium Management LLC grew its stake in shares of Ramaco Resources by 48.5% during the 2nd quarter. Millennium Management LLC now owns 778,205 shares of the energy company’s stock worth $10,233,000 after purchasing an additional 254,263 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Ramaco Resources by 14.2% during the 2nd quarter. Geode Capital Management LLC now owns 521,774 shares of the energy company’s stock worth $4,404,000 after purchasing an additional 64,955 shares during the period. 49.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on METC. B. Riley raised their price objective 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. BMO Capital Markets raised their price target on Ramaco Resources from $10.00 to $12.00 and gave the stock a “market perform” rating in a report on Thursday, November 9th. Benchmark boosted their price target on Ramaco Resources from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, October 18th. Finally, Jefferies Financial Group boosted their price target on Ramaco Resources from $10.50 to $12.50 and gave the company a “buy” rating in a research report on Wednesday, October 4th.

Ramaco Resources Company Profile

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.