Michael Dale Bauersachs Buys 31,377 Shares of Ramaco Resources Inc (NASDAQ:METC) Stock

Ramaco Resources Inc (NASDAQ:METC) CEO Michael Dale Bauersachs acquired 31,377 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were acquired at an average cost of $3.96 per share, with a total value of $124,252.92. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Shares of METC traded up $0.02 during trading hours on Thursday, reaching $4.06. The stock had a trading volume of 2,577 shares, compared to its average volume of 118,807. The company has a quick ratio of 1.06, a current ratio of 1.60 and a debt-to-equity ratio of 0.06. Ramaco Resources Inc has a 52 week low of $3.01 and a 52 week high of $8.94. The firm has a 50-day moving average of $4.62 and a 200 day moving average of $5.54. The company has a market cap of $152.72 million, a P/E ratio of 6.56 and a beta of 1.09.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in METC. Anchor Bolt Capital LP grew its stake in shares of Ramaco Resources by 6.1% during the 2nd quarter. Anchor Bolt Capital LP now owns 479,213 shares of the energy company’s stock worth $2,549,000 after purchasing an additional 27,650 shares during the period. Vanguard Group Inc. grew its stake in Ramaco Resources by 19.9% in the 2nd quarter. Vanguard Group Inc. now owns 469,548 shares of the energy company’s stock valued at $2,498,000 after acquiring an additional 77,931 shares during the period. BlackRock Inc. grew its stake in Ramaco Resources by 40.5% in the 2nd quarter. BlackRock Inc. now owns 419,879 shares of the energy company’s stock valued at $2,234,000 after acquiring an additional 121,007 shares during the period. Bank of New York Mellon Corp grew its stake in Ramaco Resources by 13.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 91,335 shares of the energy company’s stock valued at $486,000 after acquiring an additional 11,000 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Ramaco Resources by 24.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 34,809 shares of the energy company’s stock valued at $186,000 after acquiring an additional 6,870 shares during the period. Institutional investors and hedge funds own 76.37% of the company’s stock.

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

Ramaco Resources Company Profile

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.

Read More: What is the definition of a trade war?

Receive News & Ratings for Ramaco Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ramaco Resources and related companies with MarketBeat.com's FREE daily email newsletter.