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Peter Leidel, a director at Ramaco Resources, Inc. (NASDAQ:METC), has recently sold shares of the company, totaling approximately $5.57 million. The transactions took place over several days, with shares sold at prices ranging from $7.9672 to $8.9254. The stock, currently trading at $8.97, appears undervalued according to InvestingPro analysis, with a notable dividend yield of 6.13%.
The sales involved both Class A and Class B common stock. On March 20, Leidel sold a combination of Class A and Class B shares, followed by additional transactions on March 21 and March 24. The sales were executed in multiple transactions at varying prices within the specified range. For deeper insights into insider trading patterns and comprehensive analysis, InvestingPro subscribers can access detailed research reports covering over 1,400 US stocks.
Following these transactions, Leidel retains a significant number of shares in the company. The shares are held indirectly through various entities, including Yorktown Energy Partners IX, X, and XI, where Leidel holds managerial positions.
These transactions are part of routine disclosures by company insiders and are filed with the Securities and Exchange Commission.
In other recent news, Ramaco Resources reported strong fourth-quarter results, with adjusted earnings per share reaching $0.06, a significant improvement from a previous loss of $0.03. The company’s revenue increased to $170.9 million, reflecting a 2% sequential rise. Ramaco achieved a record sales volume of over 1.1 million tons in the fourth quarter and successfully reduced cash costs per ton sold to $96, down from $102 in the previous quarter. Adjusted EBITDA for the quarter increased by 24% to $29.2 million, surpassing analyst expectations of $24 million.
In another development, Benchmark analyst Nathan Martin lowered Ramaco’s stock price target to $18 from $20 but maintained a Buy rating. Additionally, Ramaco is advancing its analysis of the rare earth and mineral deposit at its Brook Mine, with plans to conduct bench tests and potentially start constructing a facility adjacent to the mine in late summer. On the management front, E. Forrest Jones, Jr. will transition to the role of General Counsel, while Evan H. Jenkins will serve as Vice-Chairman of the Board. The company continues to focus on leveraging experienced leadership to guide its expansion efforts.
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