Ramaco Resources (NASDAQ:METC) Price Target Lowered to $13.00 at Jefferies Financial Group

Ramaco Resources (NASDAQ:METC) had its price objective reduced by Jefferies Financial Group from $19.00 to $13.00 in a report released on Monday,Benzinga reports. The firm presently has a “buy” rating on the energy company’s stock. Jefferies Financial Group’s price objective would indicate a potential upside of 36.55% from the stock’s current price.

Separately, B. Riley cut their price target on shares of Ramaco Resources from $19.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, September 17th.

Ramaco Resources Price Performance

Shares of METC opened at $9.52 on Monday. The company has a current ratio of 1.35, a quick ratio of 0.86 and a debt-to-equity ratio of 0.23. The stock’s 50 day moving average is $11.53 and its two-hundred day moving average is $11.84. Ramaco Resources has a twelve month low of $9.03 and a twelve month high of $22.70. The firm has a market capitalization of $500.08 million, a PE ratio of 14.65 and a beta of 1.18.

Ramaco Resources (NASDAQ:METC) last posted its quarterly earnings results on Monday, November 4th. The energy company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). The business had revenue of $167.40 million during the quarter, compared to analysts’ expectations of $156.41 million. Ramaco Resources had a net margin of 5.35% and a return on equity of 10.17%. The firm’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.45 earnings per share. Research analysts anticipate that Ramaco Resources will post 0.86 earnings per share for the current year.

Institutional Trading of Ramaco Resources

Several institutional investors and hedge funds have recently modified their holdings of the business. American Century Companies Inc. increased its stake in shares of Ramaco Resources by 14.9% during the 2nd quarter. American Century Companies Inc. now owns 694,615 shares of the energy company’s stock worth $8,648,000 after purchasing an additional 90,014 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Ramaco Resources by 21.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,380,601 shares of the energy company’s stock worth $17,186,000 after purchasing an additional 245,924 shares in the last quarter. Dynamic Technology Lab Private Ltd raised its stake in Ramaco Resources by 190.4% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 89,958 shares of the energy company’s stock valued at $1,053,000 after purchasing an additional 58,980 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Ramaco Resources by 231.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 262,354 shares of the energy company’s stock valued at $3,070,000 after purchasing an additional 183,163 shares in the last quarter. Finally, Lunt Capital Management Inc. boosted its stake in shares of Ramaco Resources by 619.0% during the 3rd quarter. Lunt Capital Management Inc. now owns 71,900 shares of the energy company’s stock worth $841,000 after purchasing an additional 61,900 shares during the last quarter. Hedge funds and other institutional investors own 74.49% of the company’s stock.

About Ramaco Resources

Ramaco Resources, Inc engages in the development, operation, and sale of metallurgical coal. Its development portfolio includes the Elk Creek project that covers an area of approximately 20,200 acres located in southern West Virginia; the Berwind property covering an area of approximately 62,500 acres situated on the border of West Virginia and Virginia; the Knox Creek property, which covers an area of approximately 64,050 acres is located in Virginia; the Maben property covering an area of approximately 28,000 acres situated in southwestern Pennsylvania southern West Virginia; and the Brook Mine property that covers an area of approximately 16,000 acres located in northeastern Wyoming.