In a recent move, Evan H. Jenkins, the General Counsel of Ramaco Resources, Inc. (NASDAQ:METC), has increased his stake in the company through the purchase of additional shares. The transactions, which took place on May 24 and May 29, 2024, involved the acquisition of Class A common stock valued at a total of $124,997.
The first transaction, recorded on May 24, saw Jenkins acquire 1,769.284 shares at a weighted average price of $14.13, with individual prices ranging from $14.13 to $14.15. Following this purchase, Jenkins's holdings in Ramaco Resources increased to 16,321.284 shares.
A few days later, on May 29, Jenkins further bolstered his investment in the company by purchasing 7,158.498 shares. The weighted average price for this transaction was $13.969, with prices varying slightly between $13.969 and $13.98 per share. After this acquisition, Jenkins's total share ownership reached 23,479.782 shares.
These purchases demonstrate a significant vote of confidence by Jenkins in Ramaco Resources, as seen by the substantial amount of capital invested. The company, which is incorporated in Delaware and operates in the bituminous coal and lignite mining industry, has its business address in Lexington, Kentucky.
Investors often monitor insider transactions like these as indicators of confidence in the company's future prospects. The fact that a high-ranking executive within the company is increasing their stake can be seen as a positive sign.
For those interested in the company's stock performance and insider transactions, further details regarding the exact number of shares purchased at each price point within the reported range can be provided upon request to Ramaco Resources, the Securities and Exchange Commission, or any shareholder of the company, as noted by Jenkins.
InvestingPro Insights
Following the recent insider share purchases by Evan H. Jenkins, General Counsel of Ramaco Resources, Inc. (NASDAQ:METC), investors may be curious about the company's financial health and market performance. Here are some insights based on real-time data and analysis from InvestingPro:
Ramaco Resources' market capitalization stands at a robust $706.24 million, reflecting investor confidence in the company's value and potential growth. The company's price-to-earnings (P/E) ratio, a key indicator of how much investors are willing to pay for a dollar of earnings, is 12.26, which suggests that the stock may be reasonably valued compared to industry peers. Additionally, the company's revenue has shown a notable increase, with a growth rate of 21.25% over the last twelve months as of Q1 2024.
InvestingPro Tips highlight several positive aspects for Ramaco Resources, which may be influencing insider buying decisions:
- Management's aggressive share buyback strategy indicates a belief in the company's undervalued stock and a commitment to enhancing shareholder value.
- The high shareholder yield, combined with the company's valuation implying a strong free cash flow yield, suggests that Ramaco Resources is effectively returning value to its shareholders.
With additional insights available, investors looking to dive deeper into Ramaco Resources' financials and market prospects can explore a wealth of InvestingPro Tips. There are 6 more tips available, which could further inform investment decisions. For those interested in leveraging this information, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
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