Peter A. Leidel Sells 1,600,000 Shares of Ramaco Resources, Inc. (NASDAQ:METC) Stock

Key Points

• Peter A. Leidel, the Director of Ramaco Resources, sold 1,600,000 shares at an average price of $18.75, resulting in a total transaction value of $30 million, reducing his ownership stake by 39%.
• Ramaco Resources reported a loss of $0.29 earnings per share, missing estimates, despite a revenue of $152.96 million for the quarter, which was higher than analyst expectations.
• The company is also facing challenges, having recently cut its dividend to $0.0688 per share, resulting in an annualized dividend yield of only 1.2%.

Ramaco Resources, Inc. (NASDAQ:METC - Get Free Report) Director Peter A. Leidel sold 1,600,000 shares of the business's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $18.75, for a total value of $30,000,000.00. Following the completion of the transaction, the director directly owned 2,502,930 shares of the company's stock, valued at $46,929,937.50. The trade was a 39.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Ramaco Resources Trading Down 2.9%

NASDAQ METC traded down $0.78 on Friday, reaching $26.17. 589,933 shares of the company were exchanged, compared to its average volume of 1,453,481. The business's fifty day moving average price is $16.70 and its 200 day moving average price is $11.80. The stock has a market capitalization of $1.45 billion, a P/E ratio of -58.03 and a beta of 1.35. The company has a current ratio of 1.36, a quick ratio of 0.84 and a debt-to-equity ratio of 0.36. Ramaco Resources, Inc. has a fifty-two week low of $6.30 and a fifty-two week high of $27.31.

Ramaco Resources (NASDAQ:METC - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The energy company reported ($0.29) earnings per share for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.07). The company had revenue of $152.96 million for the quarter, compared to analyst estimates of $131.55 million. Ramaco Resources had a negative return on equity of 5.55% and a negative net margin of 3.17%. The business's quarterly revenue was down 1.5% on a year-over-year basis. During the same period last year, the firm posted $0.08 EPS. Analysts forecast that Ramaco Resources, Inc. will post 0.05 earnings per share for the current year.

Ramaco Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a dividend of $0.0688 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.28 dividend on an annualized basis and a yield of 1.1%. Ramaco Resources's payout ratio is -62.22%.

Hedge Funds Weigh In On Ramaco Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in METC. Quantinno Capital Management LP lifted its stake in shares of Ramaco Resources by 85.1% in the 2nd quarter. Quantinno Capital Management LP now owns 22,963 shares of the energy company's stock valued at $302,000 after purchasing an additional 10,558 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Ramaco Resources by 23.0% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,483 shares of the energy company's stock valued at $256,000 after purchasing an additional 3,638 shares during the last quarter. Pingora Partners LLC lifted its stake in shares of Ramaco Resources by 208.1% in the 2nd quarter. Pingora Partners LLC now owns 11,400 shares of the energy company's stock valued at $150,000 after purchasing an additional 7,700 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Ramaco Resources by 33.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,567 shares of the energy company's stock valued at $178,000 after purchasing an additional 3,391 shares during the last quarter. Finally, Bosun Asset Management LLC acquired a new position in shares of Ramaco Resources in the 2nd quarter valued at $819,000. Institutional investors and hedge funds own 74.49% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Wall Street Zen downgraded Ramaco Resources from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Benchmark reiterated a "buy" rating and set a $24.00 price target (up from $14.00) on shares of Ramaco Resources in a research report on Tuesday, August 5th. Finally, Jefferies Financial Group reiterated a "buy" rating and set a $27.00 price target (up from $15.00) on shares of Ramaco Resources in a research report on Wednesday, July 16th.

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.