Yorktown Energy Partners Xi, L Sells 98,274 Shares of Ramaco Resources, Inc. (NASDAQ:METC) Stock

Ramaco Resources, Inc. (NASDAQ:METC) major shareholder Yorktown Energy Partners Xi, L sold 98,274 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $8.85, for a total transaction of $869,724.90. Following the sale, the insider now owns 1,052,404 shares in the company, valued at approximately $9,313,775.40. This represents a 8.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Yorktown Energy Partners Xi, L also recently made the following trade(s):

• On Friday, March 21st, Yorktown Energy Partners Xi, L sold 83,871 shares of Ramaco Resources stock. The stock was sold at an average price of $8.61, for a total transaction of $722,129.31.

Ramaco Resources Stock Down 5.1 %

METC stock opened at $8.51 on Wednesday. Ramaco Resources, Inc. has a 52 week low of $8.17 and a 52 week high of $17.23. The company has a quick ratio of 0.86, a current ratio of 1.35 and a debt-to-equity ratio of 0.23. The firm has a 50-day simple moving average of $9.56 and a 200-day simple moving average of $10.54. The stock has a market capitalization of $377.87 million, a P/E ratio of 13.09 and a beta of 1.17.

Ramaco Resources (NASDAQ:METC) last posted its quarterly earnings data on Monday, March 10th. The energy company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.36). The firm had revenue of $170.90 million for the quarter, compared to analysts’ expectations of $166.59 million. Ramaco Resources had a return on equity of 10.17% and a net margin of 5.35%. Ramaco Resources’s quarterly revenue was down 15.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.24 earnings per share. Equities analysts forecast that Ramaco Resources, Inc. will post 0.05 earnings per share for the current fiscal year.

Ramaco Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be issued a $0.0688 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 3.23%. Ramaco Resources’s payout ratio is currently 245.45%.

Institutional Investors Weigh In On Ramaco Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in METC. Harbour Capital Advisors LLC purchased a new position in shares of Ramaco Resources in the fourth quarter worth about $540,000. Dynamic Technology Lab Private Ltd lifted its stake in Ramaco Resources by 190.4% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 89,958 shares of the energy company’s stock worth $1,053,000 after purchasing an additional 58,980 shares in the last quarter. Barclays PLC boosted its holdings in shares of Ramaco Resources by 369.7% during the 3rd quarter. Barclays PLC now owns 44,409 shares of the energy company’s stock worth $519,000 after purchasing an additional 34,954 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Ramaco Resources by 97.3% in the third quarter. JPMorgan Chase & Co. now owns 68,520 shares of the energy company’s stock valued at $802,000 after purchasing an additional 33,788 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Ramaco Resources by 231.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 262,354 shares of the energy company’s stock valued at $3,070,000 after purchasing an additional 183,163 shares in the last quarter. Institutional investors and hedge funds own 74.49% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on METC shares. Benchmark restated a “buy” rating on shares of Ramaco Resources in a research note on Wednesday, March 12th. Jefferies Financial Group cut their price objective on Ramaco Resources from $19.00 to $13.00 and set a “buy” rating for the company in a research report on Monday, January 6th.

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.