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

Ramaco Resources (NASDAQ:METC) had its price objective dropped by equities researchers at Jefferies Financial Group from $19.00 to $13.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the energy company’s stock. Jefferies Financial Group’s price target would suggest a potential upside of 25.48% from the stock’s current price.

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

Ramaco Resources Stock Down 3.3 %

Shares of NASDAQ METC opened at $10.36 on Monday. The business’s fifty day moving average price is $11.55 and its 200-day moving average price is $11.88. Ramaco Resources has a one year low of $9.03 and a one year high of $22.70. The stock has a market capitalization of $544.20 million, a PE ratio of 15.94 and a beta of 1.18. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.35 and a quick ratio of 0.86.

Ramaco Resources (NASDAQ:METC) last released its quarterly earnings data on Monday, November 4th. The energy company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The business had revenue of $167.40 million for 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%. Ramaco Resources’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period last year, the company earned $0.45 earnings per share. On average, equities research analysts anticipate that Ramaco Resources will post 0.86 EPS for the current year.

Hedge Funds Weigh In On Ramaco Resources

Several hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP bought a new position in Ramaco Resources in the 3rd quarter valued at $22,127,000. Dimensional Fund Advisors LP raised its position in shares of Ramaco Resources by 21.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,380,601 shares of the energy company’s stock worth $17,186,000 after buying an additional 245,924 shares in the last quarter. American Century Companies Inc. boosted its stake in Ramaco Resources by 14.9% during the second quarter. American Century Companies Inc. now owns 694,615 shares of the energy company’s stock valued at $8,648,000 after buying an additional 90,014 shares during the period. Millennium Management LLC grew its position in Ramaco Resources by 22.4% during the second quarter. Millennium Management LLC now owns 435,007 shares of the energy company’s stock worth $5,416,000 after buying an additional 79,687 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Ramaco Resources by 5.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 383,422 shares of the energy company’s stock worth $4,774,000 after acquiring an additional 18,393 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.