Ramaco Resources Inc (NASDAQ:METC) Director Acquires $164,220.00 in Stock

Ramaco Resources Inc (NASDAQ:METC) Director Patrick C. Graney III acquired 46,000 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was acquired at an average cost of $3.57 per share, for a total transaction of $164,220.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Shares of NASDAQ:METC opened at $4.13 on Friday. The company has a market capitalization of $154.35 million, a price-to-earnings ratio of 6.66 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.60 and a quick ratio of 1.06. The business’s 50-day moving average is $4.60 and its 200-day moving average is $5.53. Ramaco Resources Inc has a 1 year low of $3.01 and a 1 year high of $8.94.

Ramaco Resources (NASDAQ:METC) last announced its quarterly earnings data on Tuesday, August 13th. The energy company reported $0.26 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.26. The company had revenue of $65.76 million for the quarter, compared to the consensus estimate of $62.03 million. Ramaco Resources had a return on equity of 18.45% and a net margin of 11.81%. Analysts anticipate that Ramaco Resources Inc will post 1.09 EPS for the current year.

A number of research analysts have recently issued reports on METC shares. Credit Suisse Group dropped their price objective on Ramaco Resources from $9.00 to $7.00 and set an “outperform” rating on the stock in a research note on Thursday, August 15th. ValuEngine downgraded Ramaco Resources from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 18th. Zacks Investment Research downgraded Ramaco Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. TheStreet downgraded Ramaco Resources from a “c” rating to a “d” rating in a research note on Monday, August 5th. Finally, Jefferies Financial Group downgraded Ramaco Resources from a “buy” rating to a “hold” rating and dropped their price objective for the company from $8.50 to $5.00 in a research note on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $7.25.

Several large investors have recently made changes to their positions in the company. Anchor Bolt Capital LP increased its stake in shares of Ramaco Resources by 6.1% in the second quarter. Anchor Bolt Capital LP now owns 479,213 shares of the energy company’s stock worth $2,549,000 after acquiring an additional 27,650 shares during the period. Vanguard Group Inc. increased its stake in shares of Ramaco Resources by 19.9% in the second quarter. Vanguard Group Inc. now owns 469,548 shares of the energy company’s stock worth $2,498,000 after acquiring an additional 77,931 shares during the period. BlackRock Inc. increased its stake in shares of Ramaco Resources by 40.5% in the second quarter. BlackRock Inc. now owns 419,879 shares of the energy company’s stock worth $2,234,000 after acquiring an additional 121,007 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Ramaco Resources by 13.7% in the second quarter. Bank of New York Mellon Corp now owns 91,335 shares of the energy company’s stock worth $486,000 after acquiring an additional 11,000 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Ramaco Resources by 24.6% in the second quarter. Charles Schwab Investment Management Inc. now owns 34,809 shares of the energy company’s stock worth $186,000 after acquiring an additional 6,870 shares during the period. 76.37% of the stock is currently owned by institutional investors.

About Ramaco Resources

Ramaco Resources, Inc produces and sells metallurgical coal in the United States. The company's development portfolio includes the Elk Creek project consisting of approximately 20,552 acres of controlled mineral and 24 seams located in southern West Virginia; and the Berwind coal property comprising approximately 31,200 acres of controlled mineral and an area of Squire Jim seam coal deposits, which is situated on the border of West Virginia and Virginia.

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