Insider Selling: Ramaco Resources (NASDAQ:METC) Major Shareholder Sells 500,000 Shares of Stock

Key Points

• Discovery Capital Management sold 500,000 Ramaco Resources shares at an average price of $9.57, generating approximately $4.785 million. The sale reduced its holdings by 9.41% to 4.81 million shares.
• Ramaco’s latest quarterly revenue of $122.32 million fell short of the $133.11 million analyst estimate, while its loss of $0.26 per share matched expectations. Analysts expect a full-year loss of $0.76 per share.
• METC shares recently traded near $10.18, close to the lower end of their 52-week range. Analyst sentiment is broadly “Hold,” with a consensus price target of $22.71, although several firms recently lowered their targets or ratings.

Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report) major shareholder Discovery Capital Management, sold 500,000 shares of the company's stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $9.57, for a total transaction of $4,785,000.00. Following the transaction, the insider owned 4,811,360 shares in the company, valued at approximately $46,044,715.20. This trade represents a 9.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Ramaco Resources Stock Performance

METC stock traded down $0.06 during trading on Monday, reaching $10.18. The company had a trading volume of 1,608,852 shares, compared to its average volume of 2,102,410. The company has a market cap of $663.53 million, a price-to-earnings ratio of -9.51 and a beta of 1.37. Ramaco Resources, Inc. has a twelve month low of $8.56 and a twelve month high of $57.80. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.31 and a current ratio of 4.23. The firm has a 50-day simple moving average of $12.57 and a 200-day simple moving average of $14.74.

Ramaco Resources (NASDAQ:METC - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The energy company reported ($0.26) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.26). Ramaco Resources had a negative net margin of 11.98% and a negative return on equity of 13.54%. The business had revenue of $122.32 million for the quarter, compared to analyst estimates of $133.11 million. As a group, sell-side analysts expect that Ramaco Resources, Inc. will post -0.76 earnings per share for the current year.

Institutional Trading of Ramaco Resources

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Millennium Management LLC purchased a new position in shares of Ramaco Resources during the 3rd quarter valued at approximately $23,451,000. Merewether Investment Management LP purchased a new stake in Ramaco Resources during the third quarter worth $18,633,000. Goldman Sachs Group Inc. boosted its holdings in Ramaco Resources by 74.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,160,898 shares of the energy company's stock worth $20,896,000 after buying an additional 496,150 shares in the last quarter. Lunt Capital Management Inc. grew its position in Ramaco Resources by 801.3% during the fourth quarter. Lunt Capital Management Inc. now owns 557,899 shares of the energy company's stock valued at $10,042,000 after buying an additional 495,999 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Ramaco Resources by 38.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,435,059 shares of the energy company's stock valued at $22,179,000 after buying an additional 398,626 shares during the period. 74.49% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. The Goldman Sachs Group cut their price objective on Ramaco Resources from $13.00 to $11.00 and set a "neutral" rating on the stock in a report on Thursday. Zacks Research lowered Ramaco Resources from a "hold" rating to a "strong sell" rating in a research report on Friday, July 17th. Wall Street Zen upgraded shares of Ramaco Resources from a "strong sell" rating to a "sell" rating in a report on Saturday. Robert W. Baird set a $13.00 price target on shares of Ramaco Resources in a research report on Thursday. Finally, Morgan Stanley dropped their price objective on shares of Ramaco Resources from $17.00 to $13.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $22.71.

Ramaco Resources Company Profile

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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