Ramaco Resources, Inc. (NASDAQ:METC) Major Shareholder Yorktown Xi Associates Llc Sells 93,574 Shares

Ramaco Resources, Inc. (NASDAQ:METC) major shareholder Yorktown Xi Associates Llc sold 93,574 shares of Ramaco Resources stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $16.22, for a total transaction of $1,517,770.28. Following the sale, the insider now directly owns 1,090,529 shares of the company’s stock, 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 stock are required to disclose their transactions 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 stock was sold at an average price of $16.46, for a total value of $279,178.06.

Ramaco Resources Stock Down 3.9 %

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

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

Ramaco Resources Dividend Announcement

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

Hedge Funds Weigh In On Ramaco Resources

A number of large investors have recently made changes to their positions in METC. JPMorgan Chase & Co. increased its position in shares of Ramaco Resources by 533.0% during the first 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 in the last quarter. Prudential Financial Inc. acquired a new position in shares of Ramaco Resources during the first quarter worth $5,862,000. State Street Corp increased its stake in Ramaco Resources by 877.5% during the 2nd quarter. State Street Corp now owns 353,203 shares of the energy company’s stock valued at $4,645,000 after purchasing an additional 317,069 shares in the last quarter. Comerica Bank acquired a new position in Ramaco Resources during the 2nd quarter valued at approximately $2,662,000. Finally, Millennium Management LLC increased its stake in Ramaco Resources by 48.5% during the 2nd quarter. Millennium Management LLC now owns 778,205 shares of the energy company’s stock valued at $10,233,000 after purchasing an additional 254,263 shares in the last quarter. 49.68% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

METC has been the topic of a number of recent research reports. BMO Capital Markets increased their price target on Ramaco Resources from $10.00 to $12.00 and gave the stock a “market perform” rating in a research report on Thursday, November 9th. Jefferies Financial Group lifted their price objective on Ramaco Resources from $10.50 to $12.50 and gave the company a “buy” rating in a report on Wednesday, October 4th. Benchmark lifted their price objective on Ramaco Resources from $11.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, October 18th. Finally, B. Riley lifted their price objective on Ramaco Resources from $11.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, September 27th.

About Ramaco Resources

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.